Mayor Bibb and Haslam Sports Group Reach Historic $100M Agreement for the Residents of the City of Cleveland and the Region

CLEVELAND (October 13, 2025) - Mayor Justin M. Bibb and the Haslam Sports Group (HSG) announced today a historic agreement that reflects the continued partnership of the City of Cleveland and the Cleveland Browns. The agreement includes a $100M commitment from HSG to the City of Cleveland that will accelerate the lakefront transformation and prepare the current lakefront stadium site for redevelopment and the City's commitment to support the continuing progress and timely completion of the Browns' future home in Brook Park.

With today's agreement, Mayor Bibb and HSG move forward together, committed to providing advocacy and partnership for each other's transformative projects.

"I'm proud to deliver this historic deal to the residents of the City of Cleveland," said Mayor Bibb. "My administration, with the Haslams' support, will finally unlock the full potential of our lakefront, benefiting all residents and attracting new investment to the City."

"Because of Mayor Bibb's leadership, and this monumental public-private partnership, we are accelerating the transformation of Cleveland's lakefront while delivering a new world-class stadium and mixed-use development in Brook Park. It's a win for the city, the region, and the fans," said HSG Principal Partners Dee and Jimmy Haslam. "We will always be the Cleveland Browns, and this agreement reflects a continued commitment by the Haslam/Johnson family to strategically invest in City of Cleveland community programs, building on the family's consistent charitable giving across the region since taking leadership of the Cleveland Browns in 2013.

"This $100M investment continues our lakefront momentum and economic resurgence," added Mayor Bibb. This agreement puts the lakefront on the path to transformational development and the Browns on the path to a world-class facility in Brook Park. This is the right solution for the City and the region. Cleveland's time is now. We are a city that leads the region, that's open for business, and that knows how to get big things done."

Agreement Highlights:

• HSG to pay the City of Cleveland the sum of $25 million by December 1, 2025.
• HSG to raze the current Huntington Bank Field in downtown Cleveland to a pad ready state at the Browns' expense. This cost is estimated to be $30 million.
• Beginning on January 1, 2029, pay the City of Cleveland $5 million on or before January 1 of each calendar year until January 1, 2033, totaling $25 million over five years.
• Upon termination of the Lease, HSG to invest no less than $2 million per year over the next 10 years on a mutually agreed Community Benefit Projects totaling no less than $20 million.
• Parties to mutually support infrastructure plans related to road and air travel with respect to both the Brook Park stadium mixed-use project, the modernization of Cleveland-Hopkins International Airport, the development of the Cleveland lakefront, including the redevelopment of the Burke Lakefront Airport property.
• City to support the continuing progress and timely completion of transformational Brook Park stadium and mixed-use development.
• Both parties will voluntarily dismiss all lawsuits with prejudice related to Browns Huntington Bank Field move to Brook Park, OH.

The parties will work collaboratively to finalize a formal settlement agreement, reflecting mutual support of both the lakefront and Brook Park development projects.