Cleveland Mayor Michael White "vigorously endorsed the
partnership" of MBNA Corp. Chair & CEO Al Lerner and former
49ers President Carmen Policy "to carry the ball as owners
of the new Browns yesterday," according to Tony Grossi of
the Cleveland PLAIN DEALER. Former Browns QB Bernie Kosar
also stated his strong support at a news conference
announcing the partnership, and Grossi writes that given
those "strong endorsements ... the Lerner-Policy ownership
group looks unbeatable." White previously had not commented
on any of the six known groups seeking to own the expansion
team. White: "Not only do I endorse this ownership group,
but I intend to use any relationship I have with the NFL to
convince them ... that if there is to be a continued legacy
for the Cleveland Browns, let it be started by this team and
led by these men." Lerner said that he was undecided about
bidding for the team until contacted by Policy: "When Carmen
called, it changed the equation. ... I made a decision to
pay the price. The price is not money. The price is
answering these kinds of questions [about the Browns' move
to Baltimore]." Lerner was a part owner in Art Modell's
Browns/Ravens group and helped facilitate the team's move in
'95. Policy, who will serve as President & CEO if their bid
is successful, said that he will have a 10% stake in the
team. Kosar "might have a future role in the organization
... but none was defined yesterday" (PLAIN DEALER, 7/24).
INSTANT FAVORITE? In Akron, Michael Weinreb calls the
Lerner-Policy team "an instant favorite" to land the Browns.
He adds that White's endorsement "might have come as a
surprise to some, considering that a number of prominent
Cleveland business executives" had recently endorsed
Islanders co-Owner Howard Milstein and a group that includes
Paul Warfield and Calvin Hill (AKRON BEACON JOURNAL, 7/24).
DEEP POCKETS: In Akron, David Adams reports that Lerner
owns about 13% of MBNA and has a net worth estimated at
about $2.5B (AKRON BEACON JOURNAL, 7/24). Columnist Terry
Pluto: "The happiest people today are NFL Commissioner Paul
Tagliabue and the 30 NFL owners. They know the price rises
with Lerner in the field" (AKRON BEACON JOURNAL, 7/24).
