MBNA Corp. Chair & CEO Al Lerner, who will announce his
bid for the Browns expansion team today, has lined up Carmen
Policy "to join him in a partnership of two," according to
Tony Grossi of the Cleveland PLAIN DEALER. A press
conference is scheduled for 2:30pm ET today, and en route to
Cleveland, Policy confirmed that he would be a part Owner,
President & CEO of the team if he and Lerner are successful
in buying the team. Grossi adds "it is possible" that
former Browns QB Bernie Kosar will announce his endorsement
of the Lerner-Policy effort today. A role for Kosar in the
organization "is uncertain." Lerner could not be reached
for comment. Lerner had been a partner with Art Modell with
the Browns/Ravens until Modell bought out his 9% stake in
the Ravens and his 50% share of the affiliated stadium
operating company for $32M in '97 (PLAIN DEALER, 7/23). In
N.Y., Mike Freeman reports that NFL club execs said that
Policy would be given 6-8% ownership in the Browns in
Lerner's bid (N.Y. TIMES, 7/23). In S.F., Matier & Ross
report sources said that Policy's deal with Lerner "could
double his salary and give him twice the ownership stake he
had hoped for" in S.F. (S.F. CHRONICLE, 7/23).
REAX: In S.F., Matier & Ross add that Policy "was left
with a clear choice. Remain a hired hand in a fractured
family operation that showed no signs of improving. Or hop
on board a $300 million deal that could finally fulfill his
dream of becoming part owner of a pro football franchise"
(S.F. CHRONICLE, 7/23). In Akron, Terry Pluto, on a Lerner-
Policy-and-possibly-Kosar tandem: "To the NFL, this is a
very attractive combination. ... [W]hen it comes down to who
has the deepest pockets, no other potential owner is in the
same league as Lerner." Those close to Lerner "insist" he
"desperately wants to rehabilitate his image. He is the guy
who introduced Art Modell to the Baltimore bankers" (BEACON
JOURNAL, 7/23). ESPN's John Clayton reported that if Lerner
"doesn't get the team, then Carmen can maybe move over into
another expansion possibility in [L.A.]" (ESPN, 7/22).
WHAT IS THE L.A. STORY? In L.A., T.J. Simers wonders,
"Why did Los Angeles fumble the chance to secure such an
influential force within NFL circles? The answer: Los
Angeles' bid to regain football remains as disorganized as
ever, with the survivors now spending much of their time
trying to sabotage each other's efforts rather than
pressuring the NFL for immediate action" (L.A. TIMES, 7/23).
