CLEVELAND (WJW) – The FOX 8 I-Team has uncovered a new look at what the Cleveland Browns stadium is costing you and how much it brings into the city.
This comes to light with growing talk of major stadium renovations.
However, a big part of the stadium’s impact is still a mystery.
A records request revealed the cost of the Browns stadium to the city and revenues collected over the last dozen years.
The records show the cost added up to more than $240 million.
The revenues collected only added up to a little more than $67 million.
The cost includes paying off debt for the stadium and making repairs and improvements. Money collected includes admission taxes, income taxes and rent from the Browns.
At a glance, it looks like the city loses a lot, but those figures don’t tell the entire story. Remember, Browns games become weekend events.
We noticed the figures in that city breakdown did not include how much money the stadium generates in economic impact. Money spent on game days at bars, restaurants, hotels and parking lots. It’s big money that’s harder to measure.
City Council President Blaine Griffin wants to know more, especially now, with talk just beginning about major stadium renovations and how to pay for that.
“We need to be armed with the facts, which means we need accurate numbers. We need someone to take a deep dive on this,” Griffin said. “We’re always going to make sure the City of Cleveland gets a good return on their investment for any taxpayer dollars.”
In fact, the Browns tell the I-Team they are in the process of doing a detailed study so they can better understand every dollar the stadium brings to the region.
It’s all part of adding up the cost and benefit of the Browns stadium — not as easy as watching the scoreboard.