After the state of Ohio gave Jimmy and Dee Haslam $600 million for the proposed move of the Cleveland Browns to Brook Park, the couple purchased a $25 million North Palm Beach, Fla. mansion three days later, according to reports.
The oceanfront home is 5,906 square feet on 1.1 acres of land. It was purchased through Dee Haslam’s Knox-Main Trust.
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The home, which was built in 1971, was purchased in an off-market sale. It was previously sold in 1990 for $3.2 million. It’s inside the gated Lost Tree Village neighborhood.
In a situation that’s been controversial, the optics of such a move cannot be considered ideal.
The Haslam Sports Group received a gift from the state in the recently passed budget bill.
And, yes, it’s basically a gift that won’t have to be repaid, contrary to reports that said that tax revenues from the proposed entertainment district with a domed stadium as its centerpiece, would replace monies taken from the state’s unclaimed funds account.
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In the budget the Republican-dominated state legislature established a Sports and Cultural Facility Fund with monies from holdings in the unclaimed funds account.
Cleveland.com reported that the $600 million will not have to be repaid. The Haslam Sports Group was only required to put $100 million in escrow to cover potential stadium shortfalls. If there are no shortfalls, that money will be returned.
That gift could face obstacles as two former Democratic members of the legislature have filed a class-action suit on behalf of three individuals to halt the transfer of funds in Franklin County Court.
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No one should tell anyone how or when to spend their money, but…
George M. Thomas covers a myriad of things including sports and pop culture, but mostly sports, he thinks, for the Beacon Journal.
This article originally appeared on Akron Beacon Journal: Browns owners Jimmy, Dee Haslam close on $25 million Florida mansion
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