Gateway Economic Development Corp., the landlord for Progressive Field and Rocket Mortgage FieldHouse is millions of dollars in debt and needs a bailout from Cleveland and Cuyahoga County coffers.
The downtown Cleveland skyline is reflected in the glass facade of the newly renovated Rocket Mortgage FieldHouse in October 2019, near completion of a major renovation.CLEVELAND, Ohio – The publicly funded entity that oversees Rocket Mortgage FieldHouse and Progressive Field is already $25 million in the hole for promised repairs at the two facilities and the bills keep growing, but no one knows yet where that money will come from.
City and county officials have reportedly been in talks with the teams to explore such options, county spokeswoman Jennifer Ciaccia recently toldand The Plain Dealer, but a funding source has yet to be identified. She did not say whether the county might have to take money from other services to meet its obligation to the sports facilities.
Last summer, Gateway’s then-board chair Ken Silliman warned that the Cavs had just $10 million left of their allocation, while the Guardians had up to $30 million. And the Guardians have indicated more projects on the horizon. It has introduced a $27.7 million proposal to replace 17,000 seats in the ballpark over the next three years, nearly $2 million to replace air handling systems, and a $4.7 million project for televising games.
Cuyahoga-County Gateway-Economic-Development-Corp Progressive-Field Rocket-Mortgage-Filedhouse Cavaliers Guardians
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