Overview
- The four-page term sheet gives the Browns two one-year options to extend their downtown lease through Feb. 1, 2031, allowing play through the 2030 season if the Brook Park stadium is delayed, though the team still targets a 2029 opening.
- Haslam Sports Group’s $100 million package includes $25 million due Dec. 1 upon formal approval, an estimated $30 million to demolish the current lakefront stadium, $5 million annually from 2029–2033, and $2 million annually from 2034–2043, with certain payments characterized as donations for lakefront projects.
- The agreement pauses active litigation, requires the city to dismiss its lawsuits, and obligates Cleveland to use its best efforts to seek dismissal of former Mayor Dennis Kucinich’s suit, with both sides aiming to finalize the deal by Nov. 24.
- Cleveland City Council has set a hearing for Monday and must approve key elements, including demolition of the city-owned stadium and acceptance of donations, with council leadership signaling close oversight.
- The parties commit to coordinate on transportation, utilities, public safety, and safeguards for Hopkins Airport operations, and the term sheet specifies that if the Brook Park project fails, the city keeps the initial $25 million but most future payments and the demolition obligation would not proceed.