August 27, 2014

Browns deal with FirstEnergy worth $102 million over 17 years per report

Get used to that First Energy Stadium name. It isn’t going away anytime soon.

According to a report from the Akron Beacon Journal’s Nate Ulrich, the deal is for the next 17 years, or the life of the current lease agreement with the city-

“Chuck Jones, president of FirstEnergy Utilities, acknowledged in an interview Wednesday with the Beacon Journal that the contract is for 17 years and lasts for the remainder of the lease the Browns have with the city of Cleveland, which owns the stadium.

So the contract that changed the name of Cleveland Browns Stadium to FirstEnergy Stadium: Home of the Cleveland Browns is a 17-year, $102 million deal.”

The $6 million dollar per year figure is in line with what experts were saying a deal in Cleveland might be worth. The fact that it is extended for so long may come as a bit of a surprise however.

[Related: NFL Report- Norv Turner officially named Offensive Coordinator]

  • Harv 21

    yep, another embarrassment in a month of them. Haslam totally schooled by First Energy. Could have gotten $204m easy if he hadn’t gone into usual panic mode, or for sure $102m over half as many years. Why do you do this in January when exhibition season doesn’t start til late summer? How long does it take to put a freakin sign up?

    Typical Browns. Other towns get owners, we get bumpkins. Do us a favor and sell, loser.

  • nj0

    This is on the low end for naming rights, which is to expected.

  • The_Real_Shamrock

    Imagine how all of those First Energy workers feel who were laid off at the end of 2012!

  • TJ

    I like that Haslam has a usual panic mode already. He has owned the team for 3 months?

  • boomhauertjs

    Like Progressive Field will always be “The Jake” to me, First Energy Stadium will always be The Factory of Sadness to me.

  • dwhit110

    Understood that it’s a lot of money, but are companies supposed to just cut their entire marketing budgets if they’ve recently performed layoffs? Are TV commercials ok? Radio spots?

  • Garry_Owen

    Um, he was joking.

  • http://www.facebook.com/people/Evan-Walter/701089855 Evan Walter

    The Steelers sold the naming rights to their stadium, now Heinz Field, for $57 million over 20 years. Yeah, this is such a lame deal.

  • The_Real_Shamrock

    Just think about it for a second if that doesn’t work find a former First Energy employer laid off at the holidays and ask them how they felt reading this story. Priorities man, it’s all about priorities!

  • old school

    You clowns don’t now that he’s in panic mode. He has a guaranteed revenue stream. You won’t be crying when he starts signing free agents will you.

  • http://www.facebook.com/people/Evan-Walter/701089855 Evan Walter

    Not really. The Steelers get $3 million a season, the Patriots get $7 million, the Eagles get $6.5 million, the Lions get $2 million…the only stadium with a huge deal was New York’s stadium.

  • cmm13

    Anyone have any idea how this plays into the contract with the city concerning repairs?
    I remember last year when everyone was in a tizzy regarding Lerner asking the city to front him money for repairs that weren’t scheduled for a few years.

  • dwhit110

    I’ll say it another way. First Energy has a responsibility to the (thousands?) of employees still working there to make money and keep their doors open. Stopping all marketing efforts because it “looks bad” because they recently had layoffs seems like it would run counter to that plan.

  • Harv 21

    You know, even if there was an actual sarcasm font I think I’d ignore it.

  • Garry_Owen

    You obviously don’t [k]now that we clowns are joking.

  • mgbode

    perhaps. or is it:

    You, clowns, don’t. Now that he’s in panic mode, he has a guaranteed revenue stream.

  • mgbode

    it’ll always be the FED-UP to me (first energy diviserfied utility park)

  • Harv 21

    or this, an urban streetwise Yoda thing:

    You clowns dooooon’t!! Nooooo! That … he’s in … PANIC! Modey’s ass is guaranteed revenue. Stream you WON’T! Be crying when he starts siging free agents, will you?

  • nj0

    Houston Texans, Reliant Stadium; $300 million, 30 years
    Washington Redskins, FedEx Field; $207 million, 27 years
    Arizona Cardinals, University of Phoenix Stadium; $154 million, 20 years
    Carolina Panthers, Bank of America Stadium; $140 million, 20 years
    Philadelphia Eagles, Lincoln Financial Field; $140 million, 20 years
    Indianapolis Colts, Lucas Oil Stadium; $122 million, 20 years
    Denver Broncos, Invesco Field at Mile High; $120 million, 20 years
    New England Patriots, Gillette Stadium; $115 million, 15 years
    Baltimore Ravens, M&T Bank Stadium; $75 million, 15 years

    Not sure about the Steelers/Lions or when they signed the deals, but everything I came across puts us near the bottom.

  • TSR3000

    The Lions….I love that Ford pays the Ford family $2M a year to put Ford on their stadium. I think they got a “it is our name” discount.

  • MrCleaveland

    While my house went without power for five days last October, First Energy was galavanting around New Jersey. So I should get some kind of dibs, no?

    Also, as a Cuyahoga County taxpayer and thereby an owner of the stadium, I am also selling naming rights. So listen up, guys, For a hundred bucks, I’ll spray paint your name on the wall by Gate A.

  • MrCleaveland

    Yep. What a d . . . a deb . . . deba . . .

    /Nope, can’t do it. Can’t beat that poor horse anymore

  • Jaker

    Us New Jersians are very appreciative of all the help we received from outside states such as but not limited to Vermont, Minnesota, Alabama and the great state of Ohio. The help we received was awesome, and the attitude of “we’re happy to help in any way we can” was nothing short of amazing. My town lost power for 13 days, but it could have been much worse without that help

  • Jaker

    This is my favorite

  • MrCleaveland

    Yeah, I was just being a little jerky with that comment. I shouldn’t complain. You folks really got nailed, while all I did was move into a comfy motel for a few days.

    Actually, my electricity was finally turned on by some power-company guys who drove here from Kansas City. They stopped to help us out on their way to N.J.

  • The_Real_Shamrock

    Free agents! Did someone say free agents. Don’t tease me. I’ll believe it when I see it.

  • http://www.facebook.com/people/Evan-Walter/701089855 Evan Walter

    Considering how small Cleveland’s market is compared to DC, Houston, Phoenix, Baltimore (all of Maryland), Boston and how bad our football team has been…I’d say we’re getting a good deal.

  • http://www.facebook.com/neil.smith.5220665 Neil Smith

    Greatest News I have ever heard! Thank You Haslam! My dad is about to retire after 35 years with First Energy and he is offered season Tickets for the next 17 years! Love you Jimmy!

  • Jaker

    AMERICA!

  • mgbode

    oh, he’ll tease you like a fake online girlfriend

  • dan

    I’m going to go on calling it Cleveland Browns Stadium. Now, if FirstEnergy wants to pay me $102 million to call it FirstEnergy Stadium, that’s fine by me. Heck, if FirstEnergy’s biggest competitor wants to pay me $101 million to call the stadium by their name, I’ll do that too. But I’m not going to go around calling it FirstEnergy Stadium just because FirstEnergy gave some rich guy some money.

  • Garry_Owen

    Four people hate you. Ha!

  • Harv 21

    I wish