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.