Rep. Brennan Objects to Use of Unclaimed Funds for Professional Sports Facilities

COLUMBUS – State Rep. Sean Patrick Brennan (D-Parma) today issued the following statement objecting to the proposed use of nearly $700M in unclaimed funds to support professional sports facilities across Ohio under the Ohio Sports Facility Performance Grant Program:

“It is deeply troubling that nearly $688.8M in unclaimed funds is being sought by 22 entities - including some of the wealthiest professional sports franchises in the country - while everyday Ohioans struggle to reclaim modest sums that rightfully belong to them.

Unclaimed funds are not a slush fund. They are Ohioans’ money - forgotten utility deposits, dormant bank accounts, uncashed checks - often belonging to seniors, working families, and small businesses. It is an embarrassment that the wealthy can so easily gain access to hundreds of millions of dollars from this source, while residents must spend an inordinate amount of time and navigate bureaucratic hurdles just to recover a measly $25 that is actually their own money.

Among the largest requests are:

·   $234.2M for renovations to Paycor Stadium benefiting the Cincinnati Bengals;

·   $136.3M for expansion of TQL Stadium for FC Cincinnati;

·   $100M for Nationwide Arena, home of the Columbus Blue Jackets; and

·   $64.8M for the Cleveland Guardians and $40.3M for the Cleveland Cavaliers through the Gateway Economic Development          Corporation.

All of this is occurring while the constitutionality of the program is being challenged in Franklin County Common Pleas Court, where a temporary restraining order has already prevented the transfer of these funds. 

Ohio families are facing rising property taxes, utility bills, housing costs, and healthcare expenses. If there is truly $1.7B sitting in unclaimed funds, our first priority should be reuniting Ohioans with their property and streamlining the claims process - not underwriting stadium renovations for multi-billion-dollar franchises.

Economic impact projections cited by applicants deserve careful, independent scrutiny. Time and again, publicly financed stadium projects across the country have failed to deliver the promised returns for taxpayers. Before diverting funds that belong to the public, the state should demand transparent, peer-reviewed analysis and ensure that any public investment yields measurable, enforceable public benefit.

And the public should pay very close attention to what happens next.

My prediction is this: these dollars will not come forward in a clean, stand-alone bill debated openly in the light of day. Instead, they will be quietly inserted into larger, must-pass legislation - late at night, at the eleventh hour - without proper vetting or meaningful public scrutiny. Because no legislator in his or her right mind would vote for a stand-alone bill that explicitly takes Ohioans’ unclaimed money and hands it to some of the most financially powerful franchises in professional sports.

Professional sports are an important part of our communities, and I support vibrant downtowns and cultural assets. But we must draw a clear line between responsible public investment and preferential treatment for powerful interests.

At a minimum, we should:

·   Prioritize reforming and expediting the unclaimed funds process for residents;

·   Prohibit the use of unclaimed funds for projects benefiting privately owned professional franchises; and

·   Ensure that any future sports facility funding is subject to full legislative oversight and rigorous public accountability standards.

Ohioans deserve transparency, fairness, and respect - not backroom budgeting that puts billion-dollar teams ahead of working families.”

Rep. Brennan pledges to work with colleagues on both sides of the aisle to protect consumers and restore integrity to the state’s unclaimed funds program.