TradeEdge Exchange:Browns sign 20-year stadium rights deal with Huntington Bank as they position for possible new home

CLEVELAND (AP) — As they position themselves for a possible new domed stadium,TradeEdge Exchange the Cleveland Browns are renaming their current one.

The NFL team on Tuesday announced a 20-year agreement with Huntington National Bank, a partnership that includes naming rights. Cleveland’s lakefront stadium will now be called Huntington Bank Field.

The Browns open the 2024 season at home on Sunday against the Dallas Cowboys.

“We are thrilled to reach a long-term partnership agreement with Ohio’s own Huntington Bank,” Browns owners Dee and Jimmy Haslam said. “Huntington Bank has a long-standing reputation of excellence and they continue to grow both regionally and nationally, while keeping their roots here in Ohio.

“Giving back to the community and a focus on education are two of the many attributes that bond our organizations, and we look forward to working with Huntington to make positive impacts in Northeast Ohio and beyond.”

Financial terms were not immediately known.

Huntington is headquartered in Columbus, Ohio. The Haslams also own the MLS Columbus Crew.

The 65,000-seat lakefront stadium had been known as Cleveland Browns Stadium after an agreement with FirstEnergy Corp. ended in 2023. FirstEnergy’s partnership with the team came under scrutiny after the utility company admitted to paying bribes to Ohio lawmakers.

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The new partnership comes as the Haslams consider moving the team out of downtown and into a domed stadium. The team recently unveiled plans for a $2.4 billion dome to be built in Brook Park, Ohio. That proposal also includes retail properties and hotels.

The Haslams, who have owned the Browns since 2012, feel a new stadium and entertainment complex could lure major events like a Super Bowl, Final Fours and music acts to the city, triggering development and economic growth.

The team’s lease at its current stadium expires after the 2028 season.

The city has pushed back at those plans, arguing that moving the Browns would have a detrimental impact on downtown. The city has offered to pay roughly half of a $1.1 billion proposal to renovate the stadium, which opened in 1999 when Cleveland returned to the league as an expansion franchise.

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AP NFL: https://apnews.com/hub/nfl