Photo Credit: ClevelandBrowns.com
Randy Lerner agreed Thursday to sell a majority stake in the Cleveland Browns to Jimmy Haslam (James A. Haslam III), CEO of the Tennessee-based Pilot Flying J Corporation, along with his family.
The sale is subject to a review by the NFL and a vote of the league’s owners at a later date.
“On behalf of my family and as trustee for the Lerner Family Trust, which holds the shares of the Cleveland Browns, I have agreed to sell the Browns to Jimmy Haslam and his family,” said Lerner, according to the team’s release.
“I was approached regarding Mr. Haslam’s interest several weeks ago. While as a fiduciary I have always felt it was my responsibility to listen to offers, I had not been approached with a proposal that felt as natural and complete as Mr. Haslam’s.
“He had done a lot of work on the Browns and the City of Cleveland and first and foremost gave me his personal assurance the team would remain in Cleveland,” he continued. ”As I was at first overwhe