After a in-person meeting and two Cokes at Jimmy and Dee Haslam’s home in Bratenahl on Friday, Mayor Bibb believed he came to a fair deal with the Browns owners he has been fighting against in court and public opinion since they announced their intentions to move to Berea.
Haslams Sports Group will pay to demolish the current Huntington Bank Field on the lakefront after the lease with Cleveland is up in 2029. They will also, Bibb announced in a press conference on Monday, pay the city $90 million in a lump sum and in installments over the next 20 years.
All pending lawsuits between the Browns and the City of Cleveland, after years of complaints and filings, are now dropped as well.
“I think the fight we put up was the right fight,” Bibb said from a podium in the Mayor’s Office’s Red Room. “This deal shows that the fight worked. And we have a win-win for the city and a win-win for the region.”
Jimmy Haslam, coming off yet another embarrassing Browns loss, said the $100 million heading the city’s way is very much in line with Bibb’s vision for Cleveland.
“After such a bumpy time period, we’ll just describe it as this,” he said, “how excited we are to make this investment in the City of Cleveland with Mayor Bibb. I think these dollars will be put to good use, [and] will make Cleveland an even better place to live, work and raise a family.”
Cleveland will receive the first $25 million of the money this year. Starting on Jan. 1, 2029 the Haslams will pay Cleveland $5 million a year until 2033. That amounts to $80 million in cash.
The remaining $20 million will come in the form of a specific community benefits project paid in $2 million installments until 2045. Neither Bibb nor Haslam elaborated on details on that point.
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