Cuyahoga County officials announced Sunday that they would not provide county funds for a new Browns stadium in Brook Park.
County Executive Chris Ronayne and Council President Pernel Jones Jr. sent a letter to Browns owners Dee and Jimmy Haslam on Sunday urging them to keep the team’s stadium in downtown Cleveland.
The county has significant financial resources that could be used for the public half of the proposed $2.4 billion cost of a covered Brook Park stadium. In the past, the county has used sin tax, sales tax and hotel bed tax revenues for stadium projects.
But with their letter, Ronayne and Jones seemed to rule out the possibility of incurring debt for the suburban project.
“The proposal to build a new stadium in Brook Park does not make financial sense for the residents and taxpayers of Cuyahoga County,” Ronayne and Jones wrote. “Furthermore, no proposal can be considered that would pose an unacceptable risk to the general funds of the County.”
Cleveland Mayor Justin Bibb is offering $461 million for a $1 billion renovation of the current lakefront stadium. The Browns indicated last week that the team would prefer to move to Brook Park, calling City Hall’s renovation plan a “complex and challenging undertaking.”
State leaders are considering at least selling $600 million in bonds to finance construction of a new stadium. Senator Matt Dolan, whose family owns the Guardians, said in an interview with Karen Kasler of the Statehouse News Bureau last month that the idea could be a “win-win situation.”
Ronayne and Jones wrote that the Browns should take advantage of investments already made downtown in the arena and ballpark, the convention center and hotel, the new Sherwin Williams headquarters and other projects.
“The team represents the heart and soul of Northeast Ohio and reinforces the identity and pride of our community,” Ronayne and Jones wrote. “Browns fans have a deep-rooted emotional connection to the team’s rich history in Downtown Cleveland.”
Although it was not mentioned in the letter, county leaders already have their hands full with two megaprojects of a new courthouse complex and a jail. Additionally, the city and county face ongoing renovation costs for Rocket Mortgage FieldHouse and Progressive Field.
Selling bonds is only part of the equation. Someone has to pay back that debt, plus interest. The Browns said they are considering “innovative financing mechanisms” that would “amplify the financial impact of the project,” but have not yet publicly outlined how the financing will work.
For now, fans still have plenty of time to watch games at the current stadium as the Browns begin their preseason preparations. A recent engineering audit found the stadium to be well-maintained and “in good condition considering the age of the facility,” but it does need some renovation. As Signal Cleveland reported in June, the audit included plans for millions of dollars in short-term repairs.
