Originally written on Helmet2Helmet  |  Last updated 11/18/14
The Cleveland Browns are officially in new hands. League sources confirmed to ESPN that Randy Lerner has sold the team to Tennessee businessman Jimmy Haslam for more than $1 billion. The deal, which will be approved by the NFL in October, works in two parts: Haslam gets "controlling interest" of the Browns for $700 million, while the remaining $300 million (give or take a penny) will later go toward completing the purchase. This had been in the works for some time, as the Lerner family, which had owned the club since 1999, were looking to move on from their investment. Haslam, the CEO of Pilot Flying J and former minority investor (and fan) of the Steelers, has opted to bring along ex-Eagles president Joe Banner as part of his executive team. Although no major changes are expected under Haslam's watch, this likely spells the end for current team czar Mike Holmgren, whose failed to turn the Browns into a contender and, worse, has overseen a record of 9-23 in two seasons.
GET THE YARDBARKER APP:
Ios_download En_app_rgb_wo_45
MORE FROM YARDBARKER

Jon Jones thinks he can beat Cain Velasquez

Larry Bird jokes about pose of Dominique Wilkins’ statue

Barry Switzer urged Cowboys to draft Murray with great quote

SF Giants file brief in support of gay marriage to Supreme Court

Jay Cutler available to teams in trade

LIKE WHAT YOU SEE?
GET THE DAILY NEWSLETTER:

Brian Hoyer praises Johnny Manziel for checking into rehab

Dockett: I would have signed with Cardinals for less money

Report: Darrelle Revis' decision to come down to Patriots, Jets

Maurice Jones-Drew announces his retirement from NFL

Ndamukong Suh is biggest prize, risk in free agency

Associated Press will have 'robots' writing game stories

Five areas the Eagles must address this offseason

WATCH: Craig Sager emotional in warm welcome back to TNT

Likeliest landing spots for Ndamukong Suh

Tigers pitcher Alfredo Simon drives a chrome Mercedes

WATCH: Ronda Rousey breaks guy's ribs who doubts her ability

Michelle Beadle’s campaign to be cast in ‘Sharknado 3′ pays off

Ten teams who have tightened the belt

Dodgers will have a tough time dumping Andre Ethier

Brian Cashman: Derek Jeter should be final Yankees captain

Tom Brady, Rory McIlroy to play round at Augusta National

No one knows who will win the 2014-15 NBA MVP

Giants TE on plane that slid off runway in New York

NFL News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

By clicking "Sign Me Up", you have read and agreed to the Fox Sports Digital Privacy Policy and Terms of Use. You can opt out at any time. For more information, please see our Privacy Policy.
the YARDBARKER app
Get it now!
Ios_download En_app_rgb_wo_45

Larry Bird trash talks Dominique Wilkins’ statue

Likeliest landing spots for Suh

Jay Cutler available to teams in trade

Ronda Rousey breaks guy's ribs

Ten teams who have tightened the belt

Mayweather waited for Pacquiao to get old, right?

Maurice Jones-Drew announces his retirement from NFL

Ndamukong Suh is biggest prize, risk in free agency

AP will have 'robots' writing game stories

Manning officially returning to Broncos

No one knows who will win the MVP

Pop rips notion of NBA Finals in July

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.