“Huntington Bank Field Naming Deal Revealed: Details Remain Hidden”
Before the Cleveland Browns could begin installing Huntington Bank Field signs at their stadium, they needed approval from their landlord, the City of Cleveland. The City Council gave its go-ahead last week, but one significant detail remains undisclosed: the cost of the naming rights agreement.
Ward 16 Councilman Brian Kazy questioned Browns’ legal counsel Ted Tywang during a special council meeting about the financial terms of the deal. Tywang responded that the team will not reveal the amount, as they are not required to do so.
So, how do naming rights deals compare in the Cleveland market? Here’s a look at some recent figures:
In 2008, Progressive Corp. acquired naming rights for Jacobs Field for nearly $58 million, which translated to approximately $3.6 million per year over 16 years. Progressive recently renewed its deal with the Guardians, though the terms are undisclosed.
Rocket Mortgage appears to be paying a higher price for the naming rights to the Cavaliers’ arena. Rocket Companies, Inc. disclosed several past and future payments totaling $158.3 million over 17 years, averaging about $9.3 million annually.
However, Cleveland City Hall will not benefit directly from the Huntington Bank deal. According to the lease agreement, the naming rights revenue goes entirely to the Browns.
Med Mart’s Final Farewell
The Med Mart, a striking white building intended as a showroom for medical technology, has officially closed its doors. Built alongside the convention center and hotel with funds from a 0.25% sales tax increase in 2007, the Med Mart opened in 2013 as the Global Center for Health Innovation. Unfortunately, the venture never gained the expected traction.
After years of challenges under different county executives, the Med Mart was effectively retired this summer. The building is now part of the Huntington Convention Center of Cleveland. The transition was marked quietly with a new sign at the entrance, reflecting a shift in focus from the troubled Med Mart era.
Election Season Kicks Off
Labor Day marked the beginning of the final stretch for the November elections, and Signal Cleveland is closely covering the developments. Our latest story by Olivera Perkins explores how unions are campaigning for Democrats in a traditionally Republican state. The AFL-CIO is prioritizing support for U.S. Sen. Sherrod Brown and Issue 1 over presidential candidate Kamala Harris and her running mate, Tim Walz.
Additionally, we are highlighting local events, such as the Ohio Black Judges Association’s outreach to Black communities of faith. Their series, starting this Sunday at Olivet Institutional Baptist Church, emphasizes the theme “Justice is on the Ballot,” underscoring the importance of voting beyond the presidential race.
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