Browns, Cleveland Reach Deal For $120M Stadium Renovation

Law360, New York (November 20, 2013, 1:17 PM EST) -- The Cleveland Browns said Tuesday they have reached a deal with the Cleveland mayor’s office to share funding for a two-year, $120 million renovation of the NFL team’s FirstEnergy Stadium, which is scheduled to begin once the 2013 season ends.

Under the terms of the agreement, which still needs to be approved by the Cleveland City Council, the Browns will pay the full $120 million up front for capital improvements and repairs and will receive $2 million from the city each year for the next 15...
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