Nationwide Arena eyes unclaimed funds in Ohio budget for $400 million renovation

COLUMBUS, Ohio (WCMH) -- Nationwide Arena is eyeing unclaimed funds in the Ohio budget for its $400 million renovation, similar to the Cleveland Browns' plan to use state dollars for a new stadium.

Signed by Gov. Mike DeWine last month, Ohio's next two-year, $60 billion operating budget designates more than $1 billion from the state's unclaimed funds to culture and sports facility projects. Of that sum, $600 million has already been set aside for the Browns' new domed stadium to be built in suburban Brook Park south of Cleveland. 

Now, Nationwide Arena's owner, the Franklin County Convention Facilities Authority, is jockeying to get a piece for its recently announced rejuvenation, which will include a refreshed entrance with a sprawling screen, an outdoor terrace connecting to a new food fall, refurbished restrooms and concessions, an expanded team store, and an updated heating and cooling system. Watch a previous NBC4 report on Nationwide's renovation in the video player above.

"We're hopeful that we can access some of those state funds for sure," said Michael Gatto, chief operating officer of the Columbus Arena Management, the operator of Nationwide. "It's important for reinvestment in the arena so that we can remain competitive with the markets that we're competing with for tours and events."

The convention facilities authority will need to contend with other Ohio theaters, arenas and stadiums also angling for funds. The effort could face a legal challenge as well, like the class action lawsuit filed this month by former Ohio Attorney General Marc Dann seeking an injunction to prevent the state from using unclaimed dollars for the Browns' stadium.

Dave Yost, the state's current attorney general, has also criticized the move. In a letter to the governor in June before he signed the budget, Yost argued using these funds "would deviate from the norm" and be a disadvantage to Ohioans who are unaware that they are entitled to their unclaimed dollars.

"Billionaires should finance their own stadiums -- full stop," wrote Yost, referring to Browns owner Jimmy Haslam. "This provision risks prioritizing one private entity over more urgent statewide needs -- such as lowering childcare costs to boost workforce participation or easing the property tax burdens that weigh heavily on every Ohio homeowner."

Gatto said he's aware of the concerns but pointed to support from DeWine and the Statehouse's Republican majority. He also noted there's a key difference between Nationwide and the Brown's stadium: While funding for the Brook Park venue is a public-private partnership with Haslam -- who also owns the Columbus Crew of Major League Soccer -- the arena is a entirely publicly owned facility.

As Nationwide marks its 25th anniversary in September, the renovation would enhance fan experience and ensure the arena's longevity, Gatto said. Nationwide is "the economic driver of the arena district," Gatto argued, citing more than 1 million visitors each year and $120 million in annual tourist spending generated by the arena.

"We're 25 years in. The building, just like your home, needs a refresh," said Gatto. "As a key anchor of central Ohio's economy, Nationwide Arena and the arena district are critical to bringing in continuous public revenue so central Ohio can compete with other communities."

Ohio is currently holding about $4.8 billion in unclaimed funds, which includes cash from dormant bank accounts, uncashed checks, stocks and bonds, utility deposits, or unclaimed wages. Residents can head to the Ohio Department of Commerce's unclaimed funds site to look for their missing money, upload necessary paperwork, and track their claim status.