Jimmy Haslam becomes official owner of Cleveland Browns

Eric P. Mull-US PRESSWIRE

The sale of the Cleveland Browns to Jimmy Haslam for $1.05 billion was officially completed on Thursday.

The sale of the Cleveland Browns to Jimmy Haslam was officially completed on Thursday. Haslam purchased the Browns for $1.05 billion from Randy Lerner. The deal was closed nine days after being approved by league owners.

Haslam, 58, now owns 70 percent of the Browns and will get the other 30 percent from Lerner in four years. The deal was originally agreed to in August and was approved by the NFL owners by a unanimous vote on Oct. 16. Haslam built his fortune with Pilot Flying J truck stops. He is also a minority owner of the Pittsburgh Steelers. Haslam spent the day watching Browns practice and talking with head coach Pat Shurmur.

Haslam has already made changes in Cleveland, bringing in Joe Banner as the new CEO to replace team president Mike Holmgren. Holmgren will remain with the team until the end of the season. The Cleveland Browns are 1-6 this year and take on the San Diego Chargers on Sunday.

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