On Thursday, Mayor Justin M. Bibb unveiled a comprehensive package totaling $461 million in municipal funds, with no impact on city services.

Under the proposal, a significant portion of the funds, $367 million, would be generated from admission and sin taxes, as well as existing stadium reserves. The remaining amount would come from the proceeds generated by converting a pair of garages into exclusive stadium usage on game and event days. The city emphasized that any additional funds from the county or state would be separate from the proposed package.

"We have worked closely with the Haslam Sports Group over many months and developed a competitive, thoughtful, and comprehensive package that we believe respects taxpayers and protects the city's budget while enhancing the Browns' fan experience," said Mayor Justin M. Bibb in a statement.

The alternative option being considered is the construction of a domed stadium in Brook Park. General Manager Andrew Berry recently expressed a preference for the domed stadium, although he emphasized that finding any suitable solution for the team and its fans is a priority.

Responding to the city's proposal, the Browns released a statement on Wednesday, stating that they are in the process of reviewing the details and engaging in discussions with the City of Cleveland. The team highlighted that they are diligently exploring all possible options to identify the best path forward not only for their fans but also for the entire Greater Cleveland and Northeast Ohio community.

The proposed renovation project aims to modernize the current lakefront stadium, enhancing amenities and infrastructure to elevate the overall fan experience. The financing plan put forth by the city demonstrates a concerted effort to collaborate with team ownership and public stakeholders, ensuring that the project is both financially viable and beneficial for all parties involved.

As discussions continue and plans are refined, the future of the Browns stadium remains a topic of great interest, as residents and fans eagerly anticipate a decision that will shape the team's home for years to come.