Mayor Justin M. Bibb and the Haslam Sports Group (HSG) have reached a $100 million agreement aimed at transforming Cleveland’s lakefront and advancing the development of a new world-class stadium and mixed-use complex in Brook Park.
Under the agreement, HSG will contribute $100 million to the City of Cleveland to accelerate the lakefront transformation, prepare the current stadium site for redevelopment, and support the Browns’ future home in Brook Park.
“This historic deal will unlock the full potential of our lakefront, benefiting all residents and attracting new investment to the city,” Mayor Bibb said. “With the Haslams’ partnership, we’re setting Cleveland on a new path for growth, opportunity, and regional leadership.”
Dee and Jimmy Haslam, principal partners of HSG, praised the collaboration as a “monumental public-private partnership” that will benefit the city, the region, and Browns fans alike. “Because of Mayor Bibb’s leadership, we are accelerating the transformation of Cleveland’s lakefront while delivering a new world-class stadium and mixed-use development in Brook Park,” they said in a joint statement.
The Haslam/Johnson family’s commitment builds on years of investment in Cleveland community programs and charitable giving since acquiring the Browns in 2013.
Mayor Bibb said the agreement represents a continuation of the city’s economic resurgence. “This is the right solution for Cleveland and the region,” he said. “Cleveland’s time is now—we’re a city that leads the region, that’s open for business, and that knows how to get big things done.”
Agreement highlights:
HSG will pay the City of Cleveland $25 million by Dec. 1, 2025. The group will cover the estimated $30 million cost to raze Huntington Bank Field in downtown Cleveland and prepare the site for redevelopment. Beginning Jan. 1, 2029, HSG will pay Cleveland $5 million annually for five years, totaling $25 million. Upon lease termination, HSG will invest at least $2 million per year over 10 years in mutually agreed Community Benefit Projects totaling at least $20 million. Both parties will support infrastructure projects tied to the Brook Park stadium, modernization of Cleveland Hopkins International Airport, and redevelopment of Burke Lakefront Airport property. The city will back continued progress and timely completion of both the Brook Park and lakefront developments. Both parties will dismiss all lawsuits related to the Browns’ relocation from Huntington Bank Field to Brook Park.
City and HSG officials said they will finalize a formal settlement agreement in the coming months, cementing their shared vision for Cleveland’s economic future and sports landscape.
