Hall of Fame DB to purchase ownership stake in Browns

Woodson has a deal in place to purchase a 0.1 percent stake in the Browns, Dianna Russini of The Athletic reports. She adds this arrangement will bring about similar restrictions to those created for his former Michigan teammate Tom Brady as a condition of his stake in the Raiders. That arrangement limits Brady’s involvement in certain aspects of his broadcasting career (among other things) as part of an effort to avoid conflicts of interest.

Russini adds that Woodson – a native of Freemont, Ohio – will also need to cease using his name, image and likeness on packaging for the wine and whiskey companies he is associated with to comply with the NFL’s alcohol policy. Once those conditions are met, the 48-year-old will take on a minimal Browns share. Jimmy Haslam remains in place as the team’s controlling owner.

Over the course of his time with the Raiders and Packers early in his career, Woodson established himself as one of the greatest cornerbacks of his generation and beyond. The Super Bowl winner eventually transitioned to safety at the end of his All-Pro tenure, which included a return to the Raiders.

Last August, Forbes valued the Browns at $5.15 billion (h/t Chris Easterling of the Akron Beacon Journal). Based on that figure, Woodson’s purchase would cost $5.15 million, although deals such as this are often based on lesser franchise valuations and thus a lower cost to new owners. In any case, Woodson should be in place as the latest member of Cleveland’s ownership group in the near future.