A judge has temporarily blocked Ohio from tapping into $1.7 billion in residents' unclaimed funds, much of which was earmarked for the Cleveland Browns' new stadium in Brook Park.
Earlier this year, the state legislature pledged $600 million to publicly fund the $2.4 billion enclosed stadium complex. The decision was a major blow to Cleveland officials, who cited it as an "unprecedented move" they couldn't anticipate in their bid to keep the team playing in the city-owned stadium in Downtown Cleveland.
The state's commitment was supposed to come from Ohioans' unclaimed funds, which are forgotten financial assets like bank accounts and uncashed checks.
But — at least for now — a Franklin County judge is saying the state can't tap into those funds.
A 14-day temporary restraining order blocks the state's ability to move that $1.7 billion to a new fund to pay for sports and cultural projects on Jan. 1.
The move comes two weeks after a federal judge ruled the funds could be used to pay for the new Browns stadium. That decision is being appealed.
It's unclear how the decision will affect the team's plans to move to the neighboring suburb of Cleveland, just weeks after the city begrudgingly gave its blessing in exchange for $100 million in local investment from the Haslam Sports Group.
Cuyahoga County Executive Chris Ronayne has stayed in line with his messaging that the team would receive no public money from the county.
