GOOD NEWS: Cleveland Browns signs stunning stadium rights deal with Huntington Bank as they position for possible new……
The Browns signs 20-year stadium rights contract with Huntington Bank as they position for possible new home
The Browns have changed the name of their lakefront stadium as they examine relocating addresses.
On Tuesday, the Browns announced a 20-year relationship with Huntington National Bank, which purchased exclusive naming rights, as they prepare to build a potential new dome stadium.
Huntington Bank Field will host its inaugural game on Sunday, when Cleveland faces the Dallas Cowboys to begin the 2024 season.
The financial parameters of the transaction were not immediately revealed. It is apparent that whether the NFL team renovates its current stadium or installs a proposed $2.4 billion dome in the suburbs, the name will remain same.
“This is with the Cleveland Browns,” Huntington CEO Steve Steinour said. “So wherever the Cleveland Browns play, we’ll be there in force.” That is either here or in a new stadium.”
The Browns’ stadium contract expires after the 2028 season.
The club has considered renovating the site for $1.1 billion, which is preferred by the City of Cleveland and Cuyahoga County. The Browns appear intent to construct a dome and entertainment complex in Brook Park, Ohio, some 12 miles south.
The team would like to fund the project through a private-public collaboration, but they have encountered some pushback.
With the sides currently at odds, owners Dee and Jimmy Haslam did not want the stadium dispute to jeopardize the arrangement with Huntington.
“We’ve been very explicit that this is complex, it’s complicated, it’s going to take some time, and so at the appropriate time, we’ll address that,” Jimmy Haslam said when asked for a schedule for reaching a decision. “That’s not today.”
Huntington, headquartered in Columbus, Ohio, will be 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 when discussions began with Huntington about a partnership.
