The Cleveland Browns are leaving their lakeside stadium for a new domed facility in Brook Park, Ohio, the team confirmed. Browns owners Jimmy and Dee Haslam cited the need for a year-round stadium and economics favoring the new location over the current lakefront site. Cleveland Mayor Justin Bibb criticized the move, stating the decision was driven by profit over community impact. The new $2 billion project will rely on private and public investment but no existing taxpayer funds. Cleveland will lose $30 million in annual economic impact but remains open to negotiations if plans fall through.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Cleveland Browns are leaving their lakeside stadium for a new domed facility in Brook
00:06Park, Ohio, the team confirmed.
00:09Browns owners Jimmy and Dee Haslam cited the need for a year-round stadium and economics
00:14favoring the new location over the current lakefront site.
00:17Cleveland Mayor Justin Bibb criticized the move, stating the decision was driven by profit
00:21over community impact.
00:23The new $2 billion project will rely on private and public investment, but no existing taxpayer
00:28funds.
00:29Cleveland will lose $30 million in annual economic impact, but remains open to negotiations
00:34if plans fall through.
00:36For all things money, visit Benzinga.com slash GSTV.