Ohio Senate Approves $600M Funding for Browns Stadium Amid Competing Plans

The Ohio Senate has approved a $600 million funding plan for a new Cleveland Browns stadium in Brook Park, proposing to use money from the state's unclaimed funds, which currently total around $3.7 billion, to create a Sports and Cultural Facility fund. This plan would earmark $600 million immediately for the stadium and repay the fund over 16 years with tax revenue generated by the project, with the Browns' owners also providing financial guarantees to cover potential shortfalls. This Senate proposal differs from the Ohio House's plan, which favors issuing state bonds, and Governor Mike DeWine's preference for raising gambling taxes to fund the stadium. Due to these competing plans, a conference committee will negotiate a compromise before the final budget bill is sent to the governor. Additionally, the stadium's relocation to the suburbs faces legal challenges under the state's Art Modell Law, which requires teams receiving public stadium funding to offer local owners the chance to buy before moving. Overall, the debate centers on how to financially support the Browns' new stadium rather than whether to fund it at all.