Browns sold for a Billion

[the Talking Can]

http://espn.go.com/nfl/story/_/id/8225861/randy-lerner-sells-cleveland-browns-more-1b-sources-say

The Cleveland Browns have been sold by Randy Lerner to Jimmy Haslam for in excess of $1 billion, league sources said.

The sale of the Browns is laid out in two parts. Haslam will take over controlling interest of the Browns for over $700 million. Then, in the second phase of the purchase, he will pay over $300 million to complete the deal.

NFL ownership is expected to approve Haslam's purchase at its October meeting. Commissioner Roger Goodell could expedite the process by calling a special meeting, although that is considered unlikely.

The NFL helped bring Haslam to Lerner so that a sale could be completed smoothly, efficiently and with a high probability of success. Haslam had informed the league how much he wanted to buy a team, and Lerner -- who is more interested in his soccer team (Aston Villa in England) -- was interested in selling the Browns.

Paperwork between the two sides was completed Thursday morning.

[Sofa King]

Cheap!

[evolve27]

Cheap!

Relative to your casino cash, why yes. I don't see it as a marketable team whatsoever.

[Frazod]

Does this bargain price include the Factory of Sadness?

[Sofa King]

Relative to your casino cash, why yes. I don't see it as a marketable team whatsoever.

I've come to find out Casino Cash is basically on a 1:3 ratio to real cash. I'm just waiting for the right team to come along, then maybe I'll start bidding.

[Dr. Johnny Fever]

Something for Browns fans to be happy about in the short term at least.

[the Talking Can]

a soccer guy getting out of the NFL...

[Fairplay]

straight to the dog pound

[CoMoChief]

Does this bargain price include the Factory of Sadness?

LMAO

[ThaVirus]

Any chance this guy tries to relocate the team?

[Frazod]

Any chance this guy tries to relocate the team?

I don't think they're lucky enough to have that happen twice.

[Strongside]

Any chance this guy tries to relocate the team?

Probably not. But the chance of them re-naming the team to "Cleveland Steamers" is probably pretty high.

[OnTheWarpath15]

Any chance this guy tries to relocate the team?

I thought I read somewhere that part of the sale includes an agreement to keep the team in Cleveland.

[vailpass]

14 posts in and no Photoshopped picture of Dr. Evil in Brown's gear? Planet I am dissapoint.

[RealSNR]

Everybody cheer for yoooooouuuuur Los Angeles Browns!

[Rausch]

And this is the worst team in the league...

[Fairplay]

Their uniforms are so boring. I can see how it would make the players have a sense of apathy on the field no question about that.

[Chief_For_Life58]

Relative to your casino cash, why yes. I don't see it as a marketable team whatsoever.

Los Angeles

[vailpass]

Relative to your casino cash, why yes. I don't see it as a marketable team whatsoever.

They'll be gone from Cleveland quick fast in a hurry.

[the Talking Can]

no way the nfl yanks a team from them twice

[Chiefnj2]

The Browns family sells the team to a Steeler fan.

[cdcox]

Haslam has given every indication he is happy to have the team remain in Cleveland.

[Chief_For_Life58]

Haslam has given every indication he is happy to have the team remain in Cleveland.

yeah right lol

[Sofa King]

I thought I read somewhere that part of the sale includes an agreement to keep the team in Cleveland.

That's what i heard on espn today.

[notorious]

Let's hope the NFL tries to get Mark Cuban to meet Clark soon........

[cdcox]

yeah right lol

Well there is this thing called a lease and it runs through 2029.

[Chief_For_Life58]

Well there is this thing called a lease and it runs through 2029.

nah

[vailpass]

Haslam has given every indication he is happy to have the team remain in Cleveland.

I hope he does. Cleveland doesn't deserve to be sodomized twice; they are a good football town. I was just speculating because on the surface there seem to be some pretty good reasons to jump ship to LA if the big $$ comes calling.

[Backwards Masking]

The Browns family sells the team to a Steeler fan.

with their luck half will go to a Steeler Fan and half will go to a Ravens Fan. right before the stadium collapses for no scientific reason and everyone realizes the insurance clause says in that scenario the team moves to LA and Cleveland is never allowed to have a pro team again.

and the name Browns gets banned too

[Bewbies]

I don't know a Browns fan that isn't thrilled about this. Lerner sucked ass as an owner.

[chefsos]

Steelers/Browns is historically a pretty intense rivalry (on the occasions that the Browns are up to it).

Would you guys think twice if a guy rode in here and bought the Chiefs, and he was a lifetime Raider or Donk fan?

[whoman69]

Cheap!

I was going to say overpriced, but not by much it seems. I can't believe the Browns are worth more than the Saints, Titans, Vikings or Chargers. Chiefs are only slightly ahead of them.

[chefsos]

I was going to say overpriced, but not by much it seems. I can't believe the Browns are worth more than the Saints, Titans, Vikings or Chargers. Chiefs are only slightly ahead of them.I'm just winging this, but I'd guess a sweet stadium deal (or lack thereof) makes a huge difference.

[Jewish Rabbi]

I don't know a Browns fan

FYP

[BigRedChief]

Something for Browns fans to be happy about in the short term at least.They sucked for years and still sell out every game. They are damn good fans that deserve a winner.

[BigRedChief]

Haslam has given every indication he is happy to have the team remain in Cleveland.they sell out every game. They get the NFL TV money. They are in better shape than some team owners.

[cdcox]

Haslam grew up a Cowboys fan but later bought interest in the steelers. I don't think his loyalties to the steelers are that deep.

[Dr. Johnny Fever]

They sucked for years and still sell out every game. They are damn good fans that deserve a winner.

I would probably agree. I'm not sure if you're reacting to something I said or just making a statement though.

[MahiMike]

I dunno. Methinks the NFL bubble is the size of the Real Estate bust. How the hell can these franchises make their money back when football is over-saturated, concussion lawsuits sure to come, less kids playing and much less fans in the stadium?

[whoman69]

I dunno. Methinks the NFL bubble is the size of the Real Estate bust. How the hell can these franchises make their money back when football is over-saturated, concussion lawsuits sure to come, less kids playing and much less fans in the stadium?

Wouldn't say its oversaturated since they control the game times. There also hasn't been an expansion in 10 years and there's no team in LA.

[MahiMike]

Wouldn't say its oversaturated since they control the game times. There also hasn't been an expansion in 10 years and there's no team in LA.

Guess I'm talking football in general. Used to be only on during the weekends; Saturday College and Sunday NFL. Now there's some kinda game on almost every night. I can remember having to decide between a round of golf or watching the games. Now I find myself not even paying attention that much. Especially with the crazy amount of commercials it takes to fund this behemoth called the NFL.

[ChiefsCountry]

With him being from Tennessee you would have thought they might have their eyes on the Titans with old Bud getting up there.

[Marcellus]

A few years ago I read an interesting article in Forbes explaining that there is almost no way to make $1B back on an NFL team.

Lots and lots of cash flow, very little margin at that cost.

The owners like say Clark who have had teams forever (in the family etc...) can make a killing but starting out in a $1B hole is near impossible to work out of.

Think about it, a guy has to borrow and leverage $ to get $1B together and work at paying off that debt while operating the team. Even if you had $1B laying around you have that tied up in the team to start.

Clark's dad started the league and had less than $100,000 in the team I believe.

Both owners are operating off a similar revenue stream. 1 had to spend $1B the other has already seen the investment return x 1,000,0000.

Pretty interesting if you think about it.

[ShowtimeSBMVP]

Bob Glauber ‏@BobGlauber

Holmgren era over? "@MaryKayCabot: BREAKING: Former Eagles president Joe Banner will be joining Jimmy Haslam in Cleveland, sources told PD."

[Chief Roundup]

WOW

[Dr. Johnny Fever]

Bob Glauber ‏@BobGlauber

Holmgren era over? "@MaryKayCabot: BREAKING: Former Eagles president Joe Banner will be joining Jimmy Haslam in Cleveland, sources told PD."

This is why I don't do twitter. I don't need to... I have ChiefsandO'sfan.

[ShowtimeSBMVP]

Clark Judge ‏@ClarkJudgeCBS

2 league sources confirmed Banner in Cle as team prez. Said Holmgren, Heckert probably gone. Said 1: "They're going to blow whole place up."

[Deberg_1990]

They sucked for years and still sell out every game. They are damn good fans that deserve a winner.

and yet they have won a playoff game more recently than the Chiefs. 1995 with Bellichek and Testeverde i believe?

[Nightfyre]

This ought to be interesting to watch unfold.

[ChiefsCountry]

and yet they have won a playoff game more recently than the Chiefs. 1995 with Bellichek and Testeverde i believe?

94 season against Bill Parcels and Pats ironically.
Posted via Mobile Device

[BIG_DADDY]

a bill and he can get out of Cleveland. It just doesn't get any better than that.

[gold_and_red]

http://espn.go.com/nfl/story/_/id/8225861/randy-lerner-sells-cleveland-browns-more-1b-sources-say

Lets take a moment to LOL at Mike Holmgren. Never was high on him.

[Planetman]

Why would anyone pay that kind of swag for The Mistake By The Lake?

[RedDread]

Just an excuse to post this again.

<iframe width="640" height="480" src="http://www.youtube.com/embed/tRBDMMVctu8" frameborder="0" allowfullscreen></iframe>

[Rasputin]

Why sell it for one billion dollars when he could have sold it for one million dollars?

http://i13.photobucket.com/albums/a264/buttmuffin/Dr_Evil.jpg

[Hammock Parties]

Someone tell this guy about The Patriot Way before he makes a giant mistake with his first hire.

[Aries Walker]

Just an excuse to post this again.

<iframe width="640" height="480" src="http://www.youtube.com/embed/tRBDMMVctu8" frameborder="0" allowfullscreen></iframe>

Mike Polk is hilarious. He also did the Hastily Made Cleveland Tourism Video.

Edit: And "I'm a Stupid Cat".

[TimeForWasp]

Something for Browns fans to be happy about in the short term at least.

It would be funny if The new owner moved the team to Baltimore again.