NFL team vows to pour over $30bn into new home as former city faces financial meltdown in 2027

The Cleveland Browns leaving downtown for Brook Park is a major loss for the city.

Ground has been broken on a $2.4 billion dome, with the franchise set to abandon Huntington Bank Field in time for the 2029 season.

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Around $845 million has been raised from public sources, with the State of Ohio contributing most of that from unclaimed funds — a controversial plan which is being legally challenged.

The reported economic benefits are huge, with a 2024 study conducted by real estate consulting company RCLCO projecting huge growth due to the mixed-use development in Cuyahoga County.

“We really look at this site as complementary in the broader landscape of Cleveland and Northeast Ohio, overall,” Managing Director of RCLCO Erin Talkington said. “Most regions, including others in the Midwest, have multiple venues that host events and today those types of events aren’t coming to Cleveland.

“So, Cleveland’s spending is actually leaving and going to places like Indianapolis and Detroit to go to those events. So, this is really an opportunity not just for this particular site to have more activity, but for the region to capture economic activity that’s been leaving and to bring in visitor spending that’s not coming here today.

“The region should be really excited for this opportunity, and we recognize that it’s hard to envision today how one NFL venue can be different from another NFL venue when it’s just moving not that far down the road.

“This has the potential to really change the economic impact for the region out of that venue based on the new visitors and the amount of new spending and events that occur and the visitors that can really come to the region from out of state today and the spending that Clevelanders are sending other places that we can retain.”

With up to 1.5 million visitors projected due to year-round events, RCLCO predicted direct economic output of $1.2 billion annually across Cuyahoga County over 30 years, with around 5,400 permanent jobs created.

It will also create much-needed tax revenue for Brook Park, as The City of Cleveland struggles.

City of Cleveland’s funding shortfall

Cleveland Soccer Group was met with a firm after asking for $80 million in public money to help fund a 10,000-seater women’s soccer stadium.

The proposal was hoping to draw on the local parking tax, countywide sin tax, and unclaimed state funds, but the city insisted that the Gateway Economic Development Corporation, which manages venues used by the Cleveland Cavaliers and Cleveland Guardians, would prioritize those arenas.

Cleveland Browns/HKS

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Ohio legislative leaders have already come out against any significant increase in the sin tax, which is unchanged since 1990 and coming under increasing strain.

It generated around $13–14 million annually, which is split between three major sports venues.

Gateway has warned that additional funding is needed to bridge the gap or the system is facing breakdown in 2027, per Stadium DB.

Maintenance costs are rising faster than tax revenues due to inflation on one end, and falling cigarette sales on the other.

There was a $40 million black hole in 2024, requiring a bailout.

The Browns leaving the shore of Lake Erie, may not be coming at the best time with an estimated $11 million in annual tax revenue lost, but RCLCO’s report suggested that the City of Cleveland would benefit from the move.

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Some of the extra visitors to Northeast Ohio would be expected to stay and eat out downtown.

Total annual spending at bars, restaurants and hotels downtown is forecast to rise by $11 million compared to the current setup.

“When we look at this type of domed facility and adjacent mixed-use development, this type of venue is really unique to the region and we expect that based on what we know about some of the concerts and other non-NFL events that have been hosted in the Browns’ Stadium today, that at least 40 percent of visitors are coming from out of state already,” Talkington added. “So, we really expect that trend will continue.

“This is an opportunity to bring in spending to the region and bring in new visitors who will probably stay overnight and spend money.

“When, you look at the area around Brook Park and what can be accommodated on the site, the site itself is only estimated to have 400 or 500 hotel rooms at the end of the day.

“To accommodate the visitors that are coming here and their preferences, downtown Cleveland is going to have to host a lot of these visitors. And when we look at the specific spending that’s happening today from NFL games downtown, as well as the future spending that might happen as spillover from games happening in Brook Park as well as those major events we’re talking about, we actually think downtown benefits to the tune of 10 to 12 million dollars a year.”

The lakefront could also be developed with the site of the stadium expected to be turned into a development which could generate hundreds of millions of dollars in tax revenue over the coming decades, per the forecast.

This may come too late for Cleveland Soccer Group.

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