CLEVELAND -- The Cleveland Browns held an afternoon news conference where they revealed that FirstEnergy has made a deal for the naming rights for Cleveland Browns Stadium.
It will be officially known as "The FirstEnergy Stadium, Home of the Cleveland Browns."
Financial terms of the deal were not revealed. Browns owner Jimmy Haslam said that the price will "remain private."
WKYC's Jim Donovan exclusively reports that the deal is for 20 years.
Cleveland City Council must approve the deal.
Late Tuesday, Cleveland City Council President Marty Sweeney released this statement:
"Cleveland City Council, by lease, has the ability to within 30 days disapprove of any naming rights deal for Cleveland Browns Stadium for very specific reasons, and those specific reasons do not appear to be applicable to today's announcement," it read.
On other stadium issues, Haslam says all options are open in terms of installing a dome or artificial turf.
He ruled out changing the traditional orange helmets.
Regarding when they started the search for naming rights, Haslam said "...we started almost immediately (on naming rights) and FirstEnergy jumped right to the front, right from the beginning..."
President/CEO of FirstEnergy Tony Alexander shared the stage Tuesday afternoon with Browns owner Jimmy Haslam and Browns CEO Joe Banner.
Alexander said "...having the FirstEnergy name in the national spotlight is important to us.."
Haslam also said that "...the official name will be "The FirstEnergy Stadium, Home of the Cleveland Browns" to honor the Cleveland Browns.
Neither the Browns nor FirstEnergy would confirm the deal Monday but FirstEnergy did release a statement on Monday that read in part:
"In Ohio, we've long championed Cleveland teams with prominent sponsorships at Browns Stadium, Progressive Field and Quicken Loans Arena. While we remain committed to partnering with local community leaders and businesses to make our communities attractive places to live and work, we have no new announcements regarding any major sponsorships at this time."
Haslam left open the possibility of selling naming rights to the stadium when he first took over the reins of the team last fall.
Browns Stadium has never had a corporate sponsor attached.
Former Browns owner Randy Lerner declined to sell naming rights to Cleveland Browns Stadium, which opened on the shore of Lake Erie in 1999 when the team was reintroduced as an expansion franchise. Art Modell moved his team to Baltimore after the 1996 season.
The deal could bring millions to new owner Jimmy Haslam, who bought the Browns from Lerner for around $1 billion last October.