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Mon. Sep 9th, 2024

Browns sign 20-year stadium rights deal with Huntington Bank as they prepare for potential new home

Browns sign 20-year stadium rights deal with Huntington Bank as they prepare for potential new home

CLEVELAND (AP) — The Browns have changed the name of their lakefront stadium while also considering a change of address.

As they prepare to build a new, covered stadium, the Browns announced Tuesday a 20-year partnership with Huntington National Bank, which bought exclusive naming rights.

Cleveland will open its 2024 season against the Dallas Cowboys on Sunday at Huntington Bank Field.

Financial terms of the deal were not immediately available. It is clear that whether the NFL team renovates its current stadium or builds a proposed $2.4 billion dome in the suburbs, the name will remain the same.

“This is with the Cleveland Browns,” Huntington general manager Steve Steinour said. “So wherever the Cleveland Browns play, we’ll be there in style. Either here or at the new stadium.”

The Browns’ stadium lease expires after the 2028 season.

The team has discussed a $1.1 billion renovation of the property, which is favored by the city of Cleveland and Cuyahoga County. The Browns seem determined to build a dome and entertainment complex in Brook Park, Ohio — about 12 miles to the south.

The team would like to fund the project through a public-private partnership but has met some resistance.

With the sides at an impasse, owners Dee and Jimmy Haslam did not want the stadium dispute to affect the deal with Huntington.

“We’ve been very clear that this is complex, complicated, it’s going to take some time, so at the appropriate time we’ll get to that,” Jimmy Haslam said when asked about a timeline for a decision. “That’s not today.”

Huntington, based in Columbus, Ohio, will become the team’s official and exclusive banking partner.

The Haslams also own the MLS Columbus Crew, and it was during the recent All-Star weekend at their stadium that talks with Huntington about a partnership began.

The Browns’ 65,000-seat lakefront stadium was known as Cleveland Browns Stadium after its deal with FirstEnergy Corp. ended in 2023. FirstEnergy’s partnership with the team came under fire after the utility admitted to paying bribes to Ohio lawmakers.

The Haslams, who have owned the Browns since 2012, believe a new stadium and entertainment complex could attract big events like the Super Bowl, Final Fours and music acts to the city, spurring development and economic growth.

County officials opposed the plans, arguing that moving the Browns would be detrimental to the city’s downtown. The city offered to pay $461 million to renovate the current stadium, which opened in 1999 when Cleveland returned to the league as an expansion franchise.

Huntington also has naming rights in Columbus for Huntington Park, home of the Clippers, the Triple-A affiliate of the Cleveland Guardians. The bank also has its name on the University of Minnesota football stadium.

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NFL News: https://apnews.com/hub/nfl

By meerna

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