COLUMBUS, Ohio (WLIO) — Gov. Mike DeWine and state lawmakers have competing plans to help fund a new $2.4 billion stadium for the Cleveland Browns.
In his state budget, DeWine proposed doubling the tax on sports gambling operators to pay for future stadium projects. However, the Statehouse News Bureau obtained a draft amendment from lawmakers that includes $600 million in state-backed bonds to cover a portion of the new stadium, which is set to be built in Brook Park, Ohio.
DeWine has veto power to remove the bond proposal from the budget. However, he told reporters he hopes lawmakers will recognize the benefits of his proposed tax increase on sports gaming companies.
“I have every hope that the legislature will see the wisdom of creating a fund for sports gaming and getting the money for that fund from the people who make the most money from it, and that is these out-of-state gaming companies. 99.5% of the gaming that’s done online, the sports gaming, goes to these out-of-state companies. They don’t employ people in Ohio. They don’t give anything back in Ohio other than the taxes they might pay, so they should be paying for the right to come into the state of Ohio and do that way we will no longer have to use general fund money for sports stadiums,” DeWine said.
The Browns are also seeking an additional $600 million from Cuyahoga County. However, county officials have told media the request is too risky for taxpayers and the county’s credit rating.
If the funding plan moves forward, half of the $2.4 billion project would come from state and local governments, with the other half coming from private sources, including Browns owner Haslam Sports Group.
