The debate that has swirled around the Cleveland Browns’ stadium plans beyond the 2028 season has centered around renovating the existing downtown facility at a $1.2 billion expected cost or building a new domed facility at a $2.4 billion price tag.
Last week, the city of Cleveland offered its proposal to help fund the existing stadium by offering up $461 million in funds that would not create any new taxes for the residents of the town.
Now, the Browns organization has shared its thoughts on how a potential domed stadium would be built with the public being asked to provide roughly half the cost of the facility.
In a public letter Cleveland Browns COO David Jenkins authored, the proposal outlines how the public funding portion would be gathered by state and local governments.
“We are instead working on innovative funding mechanisms with local, county, and state officials that would leverage the fiscal impact of the project and the unprecedented private contribution to support the public investment and generate a substantial return for Brook Park, Cuyahoga County, and the State of Ohio,” Jenkins wrote.
Jenkins said the domed facility’s public funding source would not divert existing taxpayer monies, but instead, the funding could potentially include proceeds from the development outside of the domed stadium or facility usage fees that the NFL franchise could collect to help fund this project.
The Browns’ executive did explain that the funding model is still a work in progress as the organization continues to negotiate with state and local governments to secure the public funding it seeks.
NEXT: Browns Share Vision For Domed Stadium
