Cleveland Browns move to Tennessee
Ok, Not really, there are currently no plans to move the team, but the Cleveland Browns sale has been completed. Tennessee business man Jimmy Haslam is the proud new owner of a failing franchise. League sources quote the sale as being over the $1 Billion dollar mark.
Randy Lerner, the previous owner of the Browns, had been often criticised for a hands off approach. Often being compared to as a dead beat dad of NFL owners. Lerner had owned the Browns since recreating the franchise in Cleveland after the original team became the Baltimore Ravens.
New owner Jimmy Haslam is the CEO of Pilot Flying J truck stops, the worlds largest chain of such franchises. Haslam has been a partial owner of the Pittsburgh Steelers prior to his invenstment in Cleveland.
ESPN’s Adam Schefter is reporting the payment for the Browns will come in two different installments. The first to be $700 million, with a second payment of over $300 million to come at a later date.