Found July 01, 2013 on Cleveland Sports 360:
PLAYERS: Jimmy Haslam
TEAMS: Cleveland Browns
The owner of the Cleveland Browns Jimmy Haslam III,  has serious debt problems with his Pilot Flying J company. The Wall Street Journal reported over the weekend that Pilot Flying J is over 4 billion dollars in debt. Not only is he facing criminal charges for the scam his company pulled off by defrauding their customers, he is also facing a multitude of law suits. Haslam just sold his minor league baseball team this past week and some think it was because MLB wanted to distance themselves from the Haslam family and all the trouble they are facing. The NFL is going to take action soon. People were excited when Haslam III bought the team but that excitement may be short-lived. How could the NFL over look the debt problems Haslam and his company are faced with? How could they completely over look that he and his company could be facing bankruptcy? Could this have been a set up to move the Cleveland Browns out of Cleveland for the second time in one’s lifetime? There are new stadiums be...
3 Comments:
  • "In debt" does not mean they have more debt than assets. It merely means they elect to borrow $4B of the money they use in the pursuit of a rather large sales volume. You can have debt and still make money and increase the value of the company. So a fact they have four billion in debt means nothing without the other pertinent numbers.
  • BuckOhio is correct...other numbers are needed...$4B is serious debt but the Haslams might have serious assets the same or bigger than $4B and a good business plan and operation generating cash flow to more than service the $4B debt. Can't tell with one number
  • Hey Buck. You are wasting your time with this guy, Larry Glicken, (L.G) of clevelandsports360. He claims to be a Browns fan yet posts nothing but negative articles slagging off players, mostly Weeden and Richardson, and the entire organization. He is, quite simply, the worst writer I have ever seen, and the worst fan I have ever come across, in any sport, over the last 30 years.
    He has posted article after article, and had them featured by Yardbarker too, that do not show anything the Browns do in a favorable light. He has sold his soul, in effect, to get his juvenile drivel featured, in order to get people like us to click on his site, which in turn, earns him money.
    He then claims to be a fan, but his site is becoming something of a laughing stock now, and anyone familiar with it knows exactly what they are getting when they go there.
    One day he may grow up. One day he may learn how to write. But while there is money involved he will never know how to truly support a team, and so you should take anything he writes at face value. He is an embarrassment to himself, and the Browns.
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