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Sale of Browns to Jimmy Haslam officially closes

By Nate Ulrich Published: October 25, 2012

The sale of the Browns to Jimmy Haslam officially closed today as expected, a team spokesman said.

Haslam, whose family owns truck-stop empire Pilot Flying J, struck a deal to buy the Browns from Randy Lerner for about $1 billion on Aug. 2. NFL owners approved Haslam’s purchase of the team during their meeting Oct. 16 in Chicago.

Haslam is now majority owner of the Browns. Lerner still has a 30 percent stake in the team. Lerner will complete the sale of his minority share to Haslam four years from today.

Haslam, a native of Knoxville, Tenn., attended practice today and chatted with coach Pat Shurmur on the field. Haslam’s top lieutenant, new CEO Joe Banner, did not begin working at the Browns’ headquarters today as originally planned because he visited his ill father in Boston.

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