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Home»World»North America»United States
United States

Huntington Bank signs 20-year stadium rights agreement with Browns as they prepare for potential new stadium location

September 5, 2024No Comments3 Mins Read
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The Cleveland Browns have officially changed the name of their lakefront stadium to Huntington Bank Field as they consider the possibility of moving to a new location. The team announced a 20-year partnership with Huntington National Bank, which has acquired exclusive naming rights. The stadium will host its first game under the new name on Sunday as the 2024 season kicks off against the Dallas Cowboys. The financial terms of the deal have not been disclosed, but it is clear that the name will remain the same regardless of whether the team renovates its current stadium or builds a proposed $2.4 billion dome in the suburbs.

The Browns have been exploring options for the future of their stadium, with discussions of a $1.1 billion renovation preferred by the City of Cleveland and Cuyahoga County. However, the team seems inclined towards building a new dome and entertainment complex in Brook Park, Ohio, approximately 12 miles south of their current location. They are looking to fund the project through a private/public partnership, but have encountered some resistance in reaching an agreement. Despite the ongoing discussions, the team’s lease at their current stadium is set to expire after the 2028 season.

The team’s owners, Dee and Jimmy Haslam, are focused on finding a solution that works for all parties involved. They are determined to avoid any negative impact on their partnership with Huntington as they navigate the complexities of the stadium decision. Huntington, which is based in Columbus, Ohio, will become the Browns’ official and exclusive banking partner. The strategic partnership was initiated during discussions at the recent MLS All-Star weekend held at the Haslams’ stadium, where plans for a new stadium and entertainment complex were discussed in detail.

The Browns’ stadium had previously been known as Cleveland Browns Stadium after a partnership with FirstEnergy Corp. ended in 2023. The Haslams have been exploring the potential benefits of a new stadium, including the ability to attract major events such as the Super Bowl, Final Fours, and music acts, which could drive development and economic growth in the city. However, county officials have expressed concerns about the potential impact of moving the team from downtown. The city has offered to contribute $461 million towards renovating the current stadium, which was opened in 1999 when Cleveland returned to the NFL as an expansion franchise.

In addition to the partnership with the Browns, Huntington also holds naming rights in Columbus to Huntington Park, home of the Clippers, the Triple-A affiliate of the Cleveland Guardians. The bank’s name is also featured on the University of Minnesota’s football stadium. The partnership with the Browns represents a strategic move for Huntington as they expand their presence in the sports industry and strengthen their ties to local communities. The future of the Browns’ stadium remains uncertain, but the team and its partners are committed to finding a solution that benefits the team, the city, and the fans.

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