The Cleveland Browns want a new stadium. Ohio’s got unclaimed cash reserves. There’s a plan to use those funds to build the football digs, but a judge just came in with a block and tackle. 🏟️🛑
If you’ve been here awhile, you might remember when we reported on this issue over the summer. 🗞️ And now that there’s recent developments, we figured we’d catch you up to speed. ⏬
Here’s Five Fast Facts on the Browns and Ohio’s unclaimed funds:
- ❌ Access Denied - Ohio state had plans to move a whopping $1.7B in unclaimed funds to a pool that would go towards new sports and cultural projects. Right before Christmas, an Ohio Common Pleas Court Judge put a 14-day block on it.
- 🏈 Run It Back - This switcheroo decision comes after the transfer of funds was already approved. Roughly $600M of that unclaimed cash was set to go towards building the new domed stadium for the Cleveland Browns.
- 🧑⚖️ Laying Down the Law - Two former Ohio lawmakers with unclaimed funds filed a lawsuit, claiming the use of the funds for the stadium was unconstitutional. They also claim the decision violates rules against trying to stuff several unrelated policies into one law.
- 👌 100% Kosher - If you ask the state’s legal team, they’ll tell you that there’s no harm in the transfer. Although money will be sent to the new project pot, Ohioans have until 2036 to claim their outstanding property.
- 🤹 Funny Business - Critics say using unclaimed funds to build a new stadium is straight up theft. There’s also rumblings of potential corruption. Some lawmakers allegedly made a backroom deal with the Browns’ owners, trading stadium money for help fighting voting-map reform.
🔥Bottom line: Word to the wise: check if you have any unclaimed property and snatch it up ASAP! Head to the Ohio Department of Commerce website to do a quick and easy search. January brings a brand new year and a set of brand new laws to the Buckeye State. Find out what they are in this article.
Do you think the Browns should be able to use the unclaimed cash?
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