Cleveland Browns to be sold to Jimmy Haslam III

Cleveland Browns to be sold to Jimmy Haslam III

Berea : OH : USA | Aug 02, 2012 at 12:25 PM PDT
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Cleveland Browns coaches arrive in Berea

Berea Ohio. A person who is close to the business deal told the Associated Press on the condition of anonymity because the sale of the Cleveland Browns has not been announced officially.

The current owner of the Cleveland Browns Randy Lerner has reached a business agreement to sell the team to Tennessee truck stop magnate Jimmy Haslam III.

Lerner will sell 70 percent of the franchise to Haslam and keep 30 percent of the franchise for your years after the closing date.

The selling of the Browns franchise to Haslam must be approved by 24 of the 32 owners of the National Football League (NFL). No date for a vote has been set since the NFL owners have not received the sale yet.

ESPN reports the sale of the Browns to Haslam is more than $1 billion dollars.

It is unknown at this time if Haslam plans to move the franchise to another city or keep it in Cleveland.

News sources Fox Sports and Associated Press

George Vieto is based in Lake Charles, Louisiana, United States of America, and is a Reporter on Allvoices.
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News Stories

  • Reports: Deal to sell the Browns complete

      AP Online
    NFL Network said Thursday that an agreement on the team sale had been reached. The team had no immediate announcement and the sale has not yet been presented to the NFL. Lerner, whose family has owned the franchise since it returned to...
  • Report: Browns sold to Haslam group

      The Bellingham Herald
    The Sports Network The Cleveland Browns have reportedly been sold. According to the Cleveland Plain Dealer, a group led by Jimmy Haslam III has purchased 70 percent of the franchise from Randy Lerner for a price said to be in excess of $1 billion.
  • New Browns owner has no plans to move team

      United Press International
    The new owner of the Cleveland Browns said Thursday he is committed to keeping the team in the city and creating a new golden era for the venerable NFL team. Jimmy Haslam closed a deal said to be in excess of $1 billion for controlling interest in...
  • NFL | Report: Browns sold for more than $1 billion

      The Columbus Dispatch
    The transaction must be approved by NFL owners, who are expected to vote this month to confirm the deal. The recent sale of the Jacksonville Jaguars from Wayne Weaver to Shahid Khan was unanimously approved by the league in less than two weeks.
  • Browns sold to Tennessee truck-stop magnate pending NFL approval

      Star Phoenix
    Here's one to make Cleveland fans shake their heads: A partial owner of the hated Pittsburgh Steelers is buying the Browns. Randy Lerner has reached a deal to sell the club to Tennessee truck-stop magnate Jimmy Haslam III -- a minority stockholder in...
  • New Browns owner wants a winner in Cleveland

      Merced Sun-Star
    That's been a tough task for a club still looking for its first NFL championship in nearly a half century. The expansion Browns entered the NFL in 1999 and have made the playoffs just once. They've had two winning records in 13 seasons and are 68-140...



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