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CLEVELAND, Ohio -- FirstEnergy Corp. Chief Executive Officer Anthony Alexander and Cleveland Browns owner Jimmy Haslam this afternoon announced a partnership that changed the name of the lakefront stadium to "FirstEnergy Stadium, Home of the Cleveland Browns."
The deal must be approved by the Cleveland City Council, because the city owns the stadium. The lease between the team and the city encourages the Browns to sell naming rights.
City council will probably hear from the public about the new name for Cleveland Browns Stadium, partly because fans have been paying seat licensing fees since the stadium opened in 1999, and all Cuyahoga County residents have been paying "sin taxes" to help finance the debt on the stadium.
FirstEnergy is not saying how much it is paying the Browns annually for the naming rights or the length of the contract.
The deal would not only change the name of the $300 million building but also would give FirstEnergy exclusive rights in a wide range of joint marketing, from logos on tickets to television, newspaper and Internet advertising.
The companies intend to launch a FirstEnergy Stadium web site in the near future and plan other joint marketing efforts, including philanthropic campaigns.
A new logo has been designed for the partnership and will be featured in large signs at the top of stadium -- signs big enough to be seen by passing traffic but probably large enough to be seen from the Goodyear Blimp.
The agreement will prevent other competing electric companies from advertising with the Browns. In other words, fans won't see signs from American Electric Power, of Columbus, which is among about half dozen outside companies now offering discounts rates to FirstEnergy customers.
The Browns have a 30-year stadium lease that requires the city to put $850,000 a year into repairs. That money comes from a countywide tax on alcohol and tobacco sales. But the so-called sin tax expires in 2015.
The deal must be approved by the Cleveland City Council, because the city owns the stadium. The lease between the team and the city encourages the Browns to sell naming rights.
City council will probably hear from the public about the new name for Cleveland Browns Stadium, partly because fans have been paying seat licensing fees since the stadium opened in 1999, and all Cuyahoga County residents have been paying "sin taxes" to help finance the debt on the stadium.
FirstEnergy is not saying how much it is paying the Browns annually for the naming rights or the length of the contract.
The deal would not only change the name of the $300 million building but also would give FirstEnergy exclusive rights in a wide range of joint marketing, from logos on tickets to television, newspaper and Internet advertising.
The companies intend to launch a FirstEnergy Stadium web site in the near future and plan other joint marketing efforts, including philanthropic campaigns.
A new logo has been designed for the partnership and will be featured in large signs at the top of stadium -- signs big enough to be seen by passing traffic but probably large enough to be seen from the Goodyear Blimp.
The agreement will prevent other competing electric companies from advertising with the Browns. In other words, fans won't see signs from American Electric Power, of Columbus, which is among about half dozen outside companies now offering discounts rates to FirstEnergy customers.
The Browns have a 30-year stadium lease that requires the city to put $850,000 a year into repairs. That money comes from a countywide tax on alcohol and tobacco sales. But the so-called sin tax expires in 2015.
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