The Cleveland Browns are close to being sold to Jimmy Haslam, the president and CEO of the Pilot Corporation. Browns owner Randy Lerner acknowledged in a Friday morning statement that he was in negotiations to sell part of the team and we now find out that the portion he would sell would be a controlling interest of the team.
Browns executive Mike Holmgren told reporters on Friday that if the sale goes through, current owner Randy Lerner "will give up controlling interest in the team."
The deal has been characterized as "close" by the Cleveland Plain-Dealer. That Lerner already released a statement acknowledging the negotiations suggests this is likely to happen.
One key part of the sale is that Lerner has reportedly received assurances that the team won't be moved out of Cleveland.