SBD/July 27, 2012/Franchises

Browns Confirm They Have Been Approached By Investor; Size Of Investment Unknown

The Browns confirmed Friday morning that they "have been approached by a potential investor, Jimmy Haslam, the president of Knoxville, Tenn.-based Pilot Travel Centers," according to Joel Hammond of CRAIN'S CLEVELAND BUSINESS. It is unclear whether Haslam's "'investment' would involve him becoming a majority or minority owner," or whether Browns Owner Randy Lerner would maintain a stake in the team. Haslam "currently owns a stake" in the Steelers. The Browns in June "emphatically denied a report from a veteran Philadelphia reporter that said the Browns were one of a handful of NFL teams that could be for sale." Lerner took over ownership of the Browns in '02 after his father, Al, died (CRAINSCLEVELAND.com, 7/27). Haslam's company is "the nation's largest retail operator of travel centers and truck stops" (CLEVELAND.com, 7/27).
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Cleveland Browns, Franchises

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