In connection with current rumors and press inquiries, I can report that I’ve been approached by Mr. Jimmy Haslam, who is interested in making an investment in the Cleveland Browns. We are currently in negotiations and both sides have agreed to keep that dialogue and its details private. Given that any transaction would require League approval, care has been taken so that this process will not be disruptive to the organization, in particular the football team, as it prepares for the upcoming season. We will share further details or make an announcement if it becomes necessary.
There is a raging debate on what exactly an “investment” is, rangjng from minority stake to outright ownership. The rumor, as far as we can trace back, started on WKNR 850AM’s morning show, but rumors also circulated on June 7 that were subsequently refuted by Browns Public Relations. Jim Haslam is an 81-year-old philanthropist and business man who is best known for founding the Pilot Corporation, the travel center and convenience store chains.
[Related: So Jimmy Haslam Could Invest in the Browns?]