The franchise is dropping the 17-year naming rights agreement with FirstEnergy after 10 years
Browns changing stadium name
The Cleveland Browns are changing their stadium name. Actually, they are dropping the naming rights agreement with FirstEnergy. Their home is now going back to its original name, Cleveland Browns Stadium. The decision was announced by both sides this Thursday and the terms and conditions of this decision were not disclosed.
According to Ideastream Public Media’s Abbey Marshall, the decision comes a month after a jury convicted Larry Householder, former Ohio’s House Speaker, in a public corruption scheme. The record of the trial says that Householder was fueled by millions of dollars in bribes from FirstEnergy.
The agreement termination happens seven years before its original date. In 2013, the Cleveland Browns and the energy company signed a 17-year deal for the stadium’s naming rights. 10 years later the parts ended the contract in a reportedly amicable way.
“Our decision to remove the name was based on FirstEnergy’s evolving corporate priorities,” said FirstEnergy spokesperson Jeniffer Young. On the other hand, the City Council celebrated the breaking news. “Clevelanders own the stadium, and it’s only fitting to call it by its name that we can be proud of,” said Councilmember Brian Kazy.
On the NFL franchise’s side, Dave Jenkins, COO of Haslam Sports Group, founded by Browns’ owners Dee and Jimmy Haslam, explained the decision. “We’ve had a great association with FirstEnergy for more than two decades, and we appreciate this partnership and what it has created for our team and the broader northeast Ohio community. We reached this amicable agreement that is consistent with the productive relationship we have always enjoyed, and we wish FirstEnergy success with their future initiatives.”
New name
Reports from multiple sources indicate that the Cleveland Browns are planning to re-open bidding for the stadium’s naming rights. However, it is not clear yet if the team will proceed with this decision or if they will stick to the new old name. The Cleveland Browns stadium was opened in 1999 and went through some upgrades in 2014-15.
