Seahawks/Sounders Looking For Naming Rights Turner Field Area Could Become College Stadium Kentucky Scores Big With Luxury Football Seating Redskins Sell Naming Rights For Team HQ Sources: Isles In Talks For Arena At Belmont Park Facility Notes Islanders Potential Arena Near Citi Field? Chargers Dive Into Convention Center Possibilities MetLife Stadium Name To Stay Despite Changes Broncos Have No Stadium Naming Rights Offers
OFFICIALS AGREE ON A PLAN TO FINANCE CLEVELAND STADIUM
Published June 23, 1995
Elected officials in Cleveland have agreed on a $154M plan to renovate Cleveland Stadium that would include "slightly higher prices for parking, going to concerts, plays or sporting events, and renting or leasing a car in Cleveland," according to the Cleveland PLAIN DEALER. The plan, which would also include higher taxes on cigarettes and alcohol, is "essentially a melding of several that have been proposed in recent weeks," and was said to have the preliminary support of Mayor Michael White, city council and county leaders. The state will give $25M; private sector and the team contribute $26M -- $10M of that from club seats, $6M from naming rights; Cuyahoga County will contribute $5.75M a year by extending the current cigarette and alcohol tax established to pay for the Gateway sports complex; the city would contribute the remainder through an 8% parking tax and a 2% hike in an admissions tax and fee on renting or leasing a car. To extend the sin tax established for the Gateway construction, current law requires a public vote. Officials will ask state lawmakers to change that law. Also, opponents of an earlier proposal that would have raised the parking tax to 15% in order to pay for the stadium say that lowering the amount "does not ensure clear sailing for the plan" (Cleveland PLAIN DEALER, 6/22).