We knew on Monday that FirstEnergy Corp. was purchasing the naming rights of Cleveland Browns Stadium. What we didn't know was the name.
The Browns unveiled FirstEnergy Stadium, Home of the Cleveland Browns. I personally preferred FirstEnergy Field, but I'm not the one putting up millions of dollars. Browns owner Jimmy Haslam told reporters that terms of the deal with FirstEnergy will remain private.
The stadium was built in 1999, when the Browns returned to the league, and it had been named Cleveland Browns Stadium until the team sold the naming rights this week.
“This is a great day for all of us and it builds on the momentum we have experienced as we enter into a new era of Cleveland Browns Football,” Haslam said in a statement. “Our core values of being the best at everything we do are clearly aligned, and because of their commitment to the City of Cleveland and to all of Northeast Ohio, we felt this would be the perfect partnership. Plus, it’s a great name for the stadium – FirstEnergy.”
The Steelers sold the naming rights for Heinz Field for $57 million over 20 years. The Ravens got $75 million over five years for M&T Bank Stadium.
The only stadium in the division without a corporate sponsor is Cincinnati's Paul Brown Stadium.
"Having a stadium naming rights deal in place was extremely important for us as we look towards the future, and it was just as imperative to accomplish this with a strong, regional company such as FirstEnergy,” chief executive officer Joe Banner said. “We are excited about what this long-term partnership means, allowing both the Browns and FirstEnergy to derive many benefits from this association. This deal is a great example of why we feel very good about the direction our organization is headed, and we believe it can serve as a catalyst for many other positive developments moving forward.”