Cleveland City Council approves the First Energy Stadium deal with the Cleveland Browns with a 13-5 vote.
During a meeting at 7 p.m. on Monday, November 25, the city voted to commit $2 million dollars a year for 15 years to improvements for the stadium.
"I'd like to thank Cleveland City Council for voting to approve the City's contributions to the renovations of one of the City's most valuable assets – FirstEnergy Stadium. I'd also like to thank Jimmy Haslam and the Cleveland Browns for the significant investment they will make in our stadium. This type of private investment in our City is essential to our continued success," Mayor Frank Jackson said.
The Browns will invest $120M for improvements and capital repairs on the leased stadium.
The city says their $30M investment helps fulfill the city's own obligations for repairs based on that lease agreement.
There's an additional $12M the city would agree to fund the Browns with out of the sin tax fund.
"We respect the process we went through with City Council and Mayor Jackson and appreciate their support for this project. We look forward to moving ahead with the renovation of FirstEnergy Stadium. We know it will positively impact our fans' experience and our community will be proud to showcase the transformed home of the Browns for the rest of the country," said Cleveland Browns owner Jimmy Haslam.
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