Latest news with #Haslams
Axios
15-07-2025
- Business
- Axios
Cleveland launches search for lakefront developers
The city of Cleveland is officially seeking developers to transform up to 50 acres of its downtown lakefront into a year-round neighborhood — this time without the Cleveland Browns. Why it matters: This is the city's most ambitious lakefront redevelopment effort in decades. Mayor Justin Bibb sees it as an opportunity to undo past planning failures and finally connect the downtown core to Lake Erie. If successful, it would reorient downtown toward the water — a key component of Bibb's "Shore to Core to Shore" development framework — and create new housing, jobs, and cultural destinations in an area long occupied by surface lots and the Browns stadium. Driving the news: The city and its nonprofit development partner, the North Coast Waterfront Development Corporation (NCWDC), issued a formal request Tuesday to solicit interested developers. Developers have until Sept. 19 to submit. Zoom in: The city encourages a mix of uses on the waterfront site between West 3rd and East 9th streets, including retail, housing, entertainment, hotels, and public spaces. The request offers flexibility to repurpose or replace the existing stadium, which the city expects to be demolished in 2029 if the Browns move to Brook Park. Bibb told reporters last week that he hopes the Haslams will be "good corporate citizens" and contribute to demolition costs upon their exit. State of play: The city developed a lakefront master plan over three years of public engagement to identify core values for development, including racial equity, economic opportunity and climate resilience. Between the lines: That work was spearheaded by the landscape architecture firm Field Operations. The current request is for developers to execute on the vision. By the numbers: The city has already secured $150 million in federal and state grants to construct a pedestrian land bridge connecting downtown to the project site. Construction is scheduled to begin in 2027. The city is also offering an array of "incentive opportunities," including residential and commercial tax abatements, TIFs, the Opportunity Zone designation, job creation tax credits and proceeds from a New Community Authority to finance infrastructure and public amenities. The last word: Bibb wrote the 50-acre North Coast site "sits at the intersection of civic pride, economic opportunity, and global ambition" in an introductory letter to developers.
Axios
01-07-2025
- Business
- Axios
DeWine signs budget giving $600M for Browns' new stadium
The biennial state budget that Gov. Mike DeWine signed into law late Monday night includes $600 million for the Haslam Sports Group to build a new Browns stadium in suburban Brook Park. Why it matters: The state funding is roughly half of the total public contribution the Haslams sought for their $2.4 billion project. Locking it down sets the table for the team's relocation after the current lease expires in 2028. The latest: The Browns formally purchased the $76 million, 175-acre site last week in Brook Park, where they intend to construct the new stadium. Yes, but: The mechanism by which state lawmakers chose to fund the project has generated controversy. Zoom in: The legislature decided to tap a $4.8 billion pot of "unclaimed funds" — generally small sums that Ohio residents have not yet collected from old bank accounts, uncashed checks and security deposits. The budget sets aside $1.7 billion of these funds to create a new reserve for Ohio's pro sports facilities. The Browns will be the first recipient, but the Cincinnati Bengals are next in line. Between the lines: DeWine's preferred funding method was doubling a tax on sports betting operators, but he did not veto the measure. The other side: Cleveland-area elected officials have sharply criticized the proposal, part of the unanimous Democratic opposition to a budget they say prioritizes billionaires at the expense of Ohio's working and middle classes. The budget also includes a tax cut for wealthy earners. What they're saying:"Ohioans' private property should not be taken without due process, and certainly not to subsidize billionaire developers," said State Rep. Tristan Rader (D-Lakewood) in a recent statement. "This isn't economic development, it's a constitutional red flag." Between the lines: Two former Democratic state lawmakers plan to file a lawsuit in Franklin County over the unclaimed funds' reallocation, which they call a "classic, unconstitutional taking of people's property." What's next: County Executive Chris Ronayne has affirmed the county will not issue additional bonds for the project and still believes that by holding out, the Haslams may ultimately choose to return to a renovated lakefront facility.
Yahoo
11-06-2025
- Entertainment
- Yahoo
Charles Woodson Faces Tom Brady Again, Now as Browns Owner
The Super Bowl isn't just a game—it's a giant convention, a who's who of football money, where the members of the sport's ownership class rub shoulders and make deals. During the run-up to last year's event in Las Vegas, Cipriani, the upscale Italian eatery at the Wynn Plaza, served as the backdrop for one such meeting, featuring one of the game's most accomplished players and an NFL power couple. Hall of Famer Charles Woodson dined with Cleveland Browns owners Jimmy and Dee Haslam, along with their daughter-heir Whitney and her husband JW Johnson. For nearly two hours, the Haslams and the Fox broadcaster discussed an array of topics, from football and team operations to Woodson's humble upbringing in Fremont, Ohio. Woodson, named Ohio's Mr. Football in 1994 after a stellar career at Ross High School, told the Haslams that even in his wildest dreams, he could never imagine being an owner of his hometown NFL team—the same storied franchise that drove him to become a pro football player. Advertisement More from Woodson left Las Vegas optimistic about the conversation. However, he still had no real indication that the Haslams would offer to sell him a stake in the Browns and let him become the franchise's first outside minority partner in their family ownership group. 'It could've gone either way from there,' Woodson said in a phone interview. 'It was a great meeting, at least I felt like it, but you never know how someone is feeling on the other side. From there, I didn't know anything.' The interest was, in fact, mutual. Woodson and the Haslams sat down again for another meeting near Woodson's home in Orlando, Fla., during NFL owners' meetings a month later. The family eventually invited him out to Browns headquarters in Berea to tour the team's facilities and training grounds and meet with team executives and staffers. Woodson soon received a formal offer to join the ownership group, a minority deal approved by NFL owners last month. He reportedly paid $5 million for his .01% stake. Advertisement 'I'm from a working-class community, so ownership was never part of my [previous football] conversations,' Woodson, a nine-time NFL Pro Bowler who retired in 2015, said. 'But I feel like I deserve the opportunity for what I was able to give to the game. In some ways, I feel like this is the game repaying me back, and I'm thankful for that.' Woodson isn't the only Fox employee to be an NFL limited partner; Tom Brady, Woodson's friend and former Michigan teammate, officially bought into the Raiders last year. Woodson and Brady are tied together in NFL history through the infamous 'Tuck Rule' game in 2001, but the two remain close more than 20 years later. He says the former New England Patriots quarterback reached out to him to send a note of congratulations last month. The two will fight for bragging rights when the Raiders host the Browns on Nov. 23. 'Here's two guys who came into the University of Michigan together in 1995, and here we are [30] years later and now we're both NFL owners,' said Woodson, who won a national championship and Heisman Trophy with the Wolverines. 'How about that? We're co-workers and opponents again.' Woodson, 48, is the latest former pro athlete to join an NFL ownership group. His purchase highlights the league's push to diversify ownership. The last few years have featured a swath of diverse leaders joining the league as limited partners, from former Olympic gymnast Dominique Dawes (Atlanta Falcons) to a trio of former Toronto sports stars in Vince Carter, Tracy McGrady and Jozy Altidore (Buffalo Bills). Advertisement Both of those deals were orchestrated by Shepherd Park Sports CEO Derrick Heggans. The former NFL attorney with close ties to league owners also played an integral role in Woodson connecting with the Haslam family. The former All-Pro defensive back's entree into the Browns ownership started with a phone call a couple years ago from former Arizona Cardinals star Larry Fitzgerald, who plays golf alongside Woodson every year at the American Century Championship celebrity tournament in Lake Tahoe, Nev. Fitzgerald, a savvy investor who once owned a stake in the NBA's Phoenix Suns, asked Woodson if he'd ever considered team ownership. If so, he said he should meet with Heggans. Soon after, Heggans and Woodson were discussing possible cap table openings, including with the Las Vegas Raiders, the franchise for which he played 11 of his 18 NFL seasons. Heggans ultimately convinced Jimmy and Dee Haslam to consider Woodson, given his football championship pedigree and deep roots in the Buckeye state. 'He's a favorite son of Ohio,' Heggans remembers telling Jimmy Haslam. 'Once you're that, you're always that. … Ohio is proud of Charles Woodson and would love to welcome him back home. He becomes your secret weapon.' As a part team owner, Woodson, like Brady, will be subjected to the league's broadcast restrictions—he will be barred from production meetings with owners and players, and he will not be able to enter other teams' facilities. He says it's not a problem due to his studio analyst pregame role on FOX NFL Kickoff. Advertisement '[Brady's] job is much different than mine,' Woodson said. '[Brady] has to have much more of a touchpoint with each team that's playing each week where he's the analyst. He's more intimate with that process, so he's got a lot of restrictions on him and what knowledge he's privy to.' Woodson says his job 'is a different animal.' Being a limited partner in an NFL team may also impact Woodson's other ventures. He owns a liquor company (Woodson Whiskey) and wine company (Intercept Wines), and reports have stated he will have drop the 'Woodson' name from his whiskey venture, since the NFL's alcohol policy states no team owner can use their name, image and likeness for promotional purposes. Woodson says he hopes his new ownership position will be beneficial for his brands from an awareness standpoint even if that means potentially changing the way he promotes his businesses. The Super Bowl champion has ambitions of marrying his former and current ventures, hoping to make his wine company a leaguewide NFL partner, like California-based Barefoot Wine. Advertisement Woodson, nonetheless, is pumped to be part of the Browns' organization. He looks to contribute in a variety of ways, including with on-field matters, he says, if head coach Kevin Stefanski and the front office are interested in his perspective. When he's not handling his Fox analyst duties or elevating his businesses, he's spending time as a defensive coach for his son's high school football team (Lake Nona) in Orlando, Fla. But now he can also add owner to his lengthy football resume. It's a dream come true for the kid from Fremont. 'It's incredible news,' he said. 'Incredible.' Best of Sign up for Sportico's Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram.
Yahoo
04-06-2025
- Business
- Yahoo
Ohio Senate GOP targets unclaimed property fund to help pay for Browns, Bengals stadium projects
The Browns hope to pay for their new stadium in part with state-issued bonds. Senate Republicans have a different idea. Via the Cleveland Plain Dealer, the initial budget of the Senate GOP's initial proposal for the state budget would include 'raiding' the unclaimed property fund. It currently has $4.8 billion. A total of $1.7 billion would be removed, with $600 million going to the Browns and $1.1 billion devoted to other stadium projects — including proposed upgrades to the Bengals' stadium. For the Browns, the $600 million would be repaid to the unclaimed property fund with tax revenues. It's unclear whether the Ohio House or governor Mike DeWine will support the proposal. The House has endorsed a bond issuance. DeWine wants to increase the taxes on sports books. Meanwhile, Cuyahoga County executive Chris Ronayne, who has been squabbling with the Browns lately, opposes using any state money for a stadium in Brook Park. 'This is a sad day for the state of Ohio and a sad day for the residents of Cuyahoga County,' Ronayne said. He added that the money would cover Medicaid for 50,000 Ohio residents. 'Put your own money in this, Haslams,' Ronayne said. It's just another example of the current mood held by many regarding whether NFL teams should pay for their own stadiums, or whether they're entitled to public funding. And it's currently playing out for multiple teams — the Browns, Bengals, Chiefs, and Commanders.
NBC Sports
04-06-2025
- Business
- NBC Sports
Ohio Senate GOP targets unclaimed property fund to help pay for Browns, Bengals stadium projects
The Browns hope to pay for their new stadium in part with state-issued bonds. Senate Republicans have a different idea. Via the Cleveland Plain Dealer, the initial budget of the Senate GOP's initial proposal for the state budget would include 'raiding' the unclaimed property fund. It currently has $4.8 billion. A total of $1.7 billion would be removed, with $600 million going to the Browns and $1.1 billion devoted to other stadium projects — including proposed upgrades to the Bengals' stadium. For the Browns, the $600 million would be repaid to the unclaimed property fund with tax revenues. It's unclear whether the Ohio House or governor Mike DeWine will support the proposal. The House has endorsed a bond issuance. DeWine wants to increase the taxes on sports books. Meanwhile, Cuyahoga County executive Chris Ronayne, who has been squabbling with the Browns lately, opposes using any state money for a stadium in Brook Park. 'This is a sad day for the state of Ohio and a sad day for the residents of Cuyahoga County,' Ronayne said. He added that the money would cover Medicaid for 50,000 Ohio residents. 'Put your own money in this, Haslams,' Ronayne said. It's just another example of the current mood held by many regarding whether NFL teams should pay for their own stadiums, or whether they're entitled to public funding. And it's currently playing out for multiple teams — the Browns, Bengals, Chiefs, and Commanders.
