Ohio Senate Approves $600M for Browns Stadium with Taxpayer Protections

The Ohio Senate has passed a budget bill that includes $600 million in funding for a new enclosed stadium for the Cleveland Browns in Brook Park. The legislation, which now heads to a conference committee to reconcile with the House version, contains significant taxpayer protections. Senate Finance Committee Chair Matt Dolan (R-Chagrin Falls) inserted provisions requiring team owner Jimmy Haslam to provide financial guarantees to protect public investment.

Under the terms approved by the Senate, Haslam must provide $100 million in guarantees, including $50 million in escrow upfront and an additional $50 million backup line of credit. These provisions were designed to ensure taxpayers would not bear financial risk if projected revenues fail to materialize. The protective measures come after months of negotiations between state officials and the Browns ownership regarding the stadium's future.

The stadium funding package represents a significant public investment in the project, though it falls short of covering the estimated $2.4 billion total cost. Following Cuyahoga County's withdrawal from the funding plan, the Haslam Sports Group indicated they would need to increase their private investment to cover the remaining costs. The organization's COO Dave Jenkins acknowledged they would be assuming additional financial risk in the project.

The legislative approach reflects Ohio lawmakers' concerns about protecting public funds while supporting the stadium project. The measures appear influenced by the state's history with the Browns, including the team's 1995 relocation to Baltimore under previous owner Art Modell. With approvals from the Governor, House, and Senate, the funding package appears close to final authorization, though it still requires reconciliation between legislative chambers before becoming law.