NFL team set for ’emergency’ discussion on new £2billion stadium as franchise plans to relocate

TRENDING Stories Videos Your Say The NFL franchise announced plans to relocate from their current lakeside home, Huntington Bank Field, 18 months ago, with excavation already underway at the suburban site approximately 16 miles south of central Cleveland.Under the terms of the agreement, a Browns-affiliated entity, StadCo, would provide 24.8million (£19.5million) to the city to offset startup costs.The payment structure begins with an 800,000 (£628,000) lump sum upon signing, followed by monthly instalments of 250,000 (£196,000) for a year commencing in May 2026.From May 2027, these payments would increase to 500,000 (£393,000) monthly over a two-year period.The final phase sees monthly contributions rise to 750,000 (£589,000) starting in May 2029, the same year the Browns hope to occupy their new home.According to cleveland.com, the pre-development agreement would establish the framework for a public community authority to eventually take ownership of the stadium and lease it back to the team.Public ownership of the venue would bring significant financial advantages, including exemptions from sales tax on construction materials, savings anticipated to reach millions of pounds.Haslam Sports Group has long advocated for this community authority model, which would see governance shared between city and team representatives.LATEST SPORT NEWSPremier League icon denies tax dodging after police launch investigation into Deliveroo ordersLando Norris spotted with model ex-girlfriend just weeks after 'split' as F1 fans left stunnedMikel Arteta hails ‘extraordinary’ Arsenal star after Champions League victory in LisbonThe arrangement mirrors the structure already in place for HSG's Columbus Crew football club and its stadium in central Ohio.Such a setup would see the newly created authority hold the stadium title whilst the Browns operate as tenants under a lease agreement.This ownership model has been central to HSG's vision for the project since discussions began with Brook Park officials.Councillor Thomas Dufour anticipates a vibrant discussion on the subject when the stadium proposal comes before council.He said: This project isn't about the next five years, but the next 50 years. I think there's a lot to discuss here. In the end this project has to work for working people.HSG has committed to funding approximately 67.5 per cent of the stadium's total cost, with public money covering the remainder, including 600million (£471million) in state funds currently subject to legal proceedings.Browns owner Dee Haslam expressed confidence at recent NFL owners' meetings that the funding would materialise.She said: We're building a stadium. So we're full steam ahead, but we're pretty confident.Our Standards: The GB News Editorial Charter