Gov. approves funds for new Browns stadium

Ohio Gov. Mike DeWine has signed a two-year, $60 billion budget that sets aside $600 million in unclaimed funds for a new Cleveland Browns stadium.

The Republican governor signed the budget late Monday night, about 45 minutes before the midnight deadline.

The Haslam Sports Group, owner of the Browns, had requested that the state help build a new $2.4 billion domed stadium in suburban Brook Park south of Cleveland. DeWine had proposed doubling taxes on sports betting to help the Browns, as well as the Cincinnati Bengals and other teams who might seek facility upgrades. But the Legislature used some of the $4.8 billion in unclaimed funds the state is holding on to -- in small sums, residents left behind from dormant bank accounts, uncashed checks and forgotten utility deposits. Currently, there's a 10-year time limit before that money reverts to the state.

In a statement issued Tuesday, the Browns called the budget approval a "tremendous milestone for our organization" and said DeWine and the Legislature worked together "to find a responsible way to support such a transformative project."

"This is a win for taxpayers, and it will provide significant money to things that improve the quality of life in Ohio," DeWine said of the stadium money.

Last October, the Browns announced they informed the city of Cleveland of their intentions to build a state-of-the-art stadium and entertainment complex in Brook Park -- which is in the same county but 15 miles south of Cleveland -- when their stadium lease with the city expires at the end of the 2028 NFL season.

The budget also included changes to the state's "Art Modell Law," which was passed in 1996 after former Browns owner Art Modell moved the franchise to Baltimore. The law had stated that no professional sports team playing in a tax-supported stadium in Ohio could relocate without an agreement with the city in which it plays unless that city is given six months' advance notice with an opportunity to buy the team. The new language in the signed budget applies the law only if a sports team attempts to move out of Ohio.

Cleveland Mayor Justin M. Bibb expressed his disappointment Tuesday with the final state budget.

"We are deeply disappointed that the final state budget includes both a $600 million public subsidy for a domed stadium in Brook Park and changes to Ohio's Modell Law -- provisions we strongly opposed and requested be removed," Bibb said in a statement. "Relocating the Browns will divert economic activity from downtown, create a competing entertainment district, and disrupt the momentum of our lakefront redevelopment."