It’s not the purchase of a Florida mansion that raised eyebrows among several media outlets but its timing, coming just three days after $600 million of Ohioans’ unclaimed funds were given by state elected officials to the Haslams for their planned new stadium in suburban Brook Park (Traded). CLICK IMAGES TO ENLARGE THEM.
Sale closed 3 days after $600M for stadium OK’d by state
Three days after Ohio officials approved $600 million in state funds for the Haslam Sports Group’s new stadium in suburban Cleveland, billionaires Dee and Jimmy Haslam closed on the purchase of a $25 million beachfront mansion in Florida. The two events are either a remarkable coincidence or some tone-deaf scheduling.
The Haslams sealed the deal July 3 on the 5,906-square-foot house at 11914 Turtle Beach Rd. in North Palm Beach, according to the real estate Web site Traded. The house is in an exclusive, gated community called Lost Tree Village on the Atlantic Ocean with its own private golf course.
Three days earlier, Ohio lawmakers and Gov. Mike DeWine passed the state’s two-year budget which included the $600 million from existing unclaimed funds that are at least 10 years old as of Jan. 1, 2026. A class-action lawsuit was filed this week against the use of Ohioans’ unclaimed funds for the stadium.
If the lawsuit fails, the funding will pay for roughly half of the public assistance for the $2.4 billion enclosed stadium in Brook Park for the Cleveland Browns home football games starting in 2029 and other events. The Haslams said the other $1.2 billion will come from them and their private-sector investors.
The other public funds will come from local taxes collected on stadium activities to service a $480 million debt issue as well as from the countywide sin tax on alcohol and tobacco products which is due to expire in 2034, barring a voter-approved expansion.
At the center of the image is Dee and Jimmy Haslam’s newly purchased Turtle Beach Road home on the Atlantic Ocean in North Palm Beach, Florida (Bing).
The state budget that was passed last week also forced revenues from Cuyahoga County’s sin tax to be used for the Haslams’ new stadium. Ohio is supposed to be a home-rule state where local matters are decided locally and not forced upon communities by the state.
Haslam Sports Group’s Chief Communications Officer Peter John-Baptiste declined to comment on the purchase of the mansion or the timing thereof.
However, a business source close to the Haslams said it was unfair to criticize them for buying a home, regardless of the timing. The source, who chose to stay anonymous because of the community’s emotions surrounding the Browns’ move, said the Haslams have invested $800 million in development projects and more than $150 million in philanthropy across Ohio since they bought a majority stake in the Browns in 2012.
According to property records, Susan “Dee” Bagwell Haslam and Jimmy Haslam acquired the 1971-built oceanfront home and its 1.1 acres of land in an off-market transaction. Although the property was not publicly listed for sale, the real estate site Zillow valued the property through its “Zestimate” appraisal at $19,443,500.
“Susan ‘Dee’ Haslam, through the Knox-Main Trust, acquired the property from Robert and Diane White, who previously purchased the home in 1990 for $3.2 million, demonstrating a significant return on investment for the sellers,” the Web site Traded reported.
The proposed, enclosed Huntington Bank Field in the Cleveland suburb of Brook Park carries a price tag of about $2.4 billion, half of which is coming from the public sector and half of the public financing is from unclaimed funds from the state, approved last week (HKS).
The Knox-Main Trust is a trust connected to Knoxville, Tennessee-based attorney William D. Edwards, who serves as trustee. The trust has been involved in real estate transactions in Palm Beach County, Florida.
The Haslam Sports Group also is a majority share owner of the Major League Soccer Columbus Crew and a minority share owner of the National Basket Association Milwaukee Bucks.
News of the Florida mansion purchase has been reported in The Real Deal real estate news site and in the Business Journal publications based in Columbus and Milwaukee but not in any Northeast Ohio media — until now.
Surprisingly, when asked about the timing and optics of the Haslams’ mansion purchase, Cuyahoga County Executive Chris Ronayne also told NEOtrans “no comment.”
Built in 1999, the city of Cleveland’s lakefront stadium, branded as the current Huntington Bank Field by the Haslam Sports Group, could be demolished as early as 2030 if the Haslams are able to build their Brook Park stadium in time (HSG).
Instead, he said he preferred to discuss the issues relating directly to the Brook Park stadium and why he believes it’s a bad idea for a 60,000-plus-seat stadium to leave Downtown Cleveland for a site next to Cleveland Hopkins International Airport.
“My goal is to protect the taxpayers,” Ronayne told NEOtrans. “Downtown is the place for sports and entertainment. And it’s an opportunity cost to build a stadium on 180 acres in Brook Park when it should be used for manufacturing or something aviation related. And lastly, I’m concerned about the impact this stadium is going to have on airport access and parking.”
In related news today, Cuyahoga County Common Pleas Court Judge Lauren C. Moore rejected the Haslam Sports Group’s request to throw out the City of Cleveland’s lawsuit against the Browns’ pending move, citing the Modell law.
The Browns have a lease to remain at the city’s lakefront stadium until after the 2028 football season ends. The judge’s rejection came despite the new state budget’s language weakening the Modell law. That law limits sports teams’ options to relocate.
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