On equity grounds, plus this fact: The city still owes $53 million in bond payments for the original stadium
According to the, there is $9,225,000 allocated for repayment of that remaining $53 million in bonds, along with $4 million in capital repairs and $1.4 million in property taxes and insurance.
"And then, it flows into this special revenue fund," Maurer said, annotating a slide."And then it immediately flows out again to pay off our debts." What Humphreys, along with the rest of the panel, sees as unfair is how many Clevelanders, forced to pay for a new stadium, won't actually be going to use it. "Because this is general revenue funds, every taxpayer in Cleveland is contributing to that, whether they watch a Browns game, listen to a Browns game, care about the Browns or not— taxpayer!" he said."For a team that's owned by a billionaire, the equity implications for that are shocking.
Browns spokesperson Peter John-Baptiste referred to a June statement, one that defers to the upcoming release of the organization's stadium feasibility study.
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