The Cleveland Browns will introduce their new owner Jimmy Haslam III at a Friday press conference at the team facility in Berea, Ohio, according to the Cleveland Plain Dealer. Haslam will also be on the field watching his new team practice.
One question likely to come up at Haslam's press conference concerns the future of team president Mike Holmgren. Holmgren acknowledged the possibility that he would not return, and expressed hope that he would remain. His status likely hinges in part on what role former Philadelphia Eagles president Joe Banner has with the team under Haslam.
Banner is reportedly going to be involved in Haslam's management group, and there would not be enough room for both men atop the organizational chart. Holmgren said Thursday that he was not aware if Banner was taking on a leadership role with the team.
The status of head coach Pat Shurmur and general manager Tom Heckert under the new owner will likely hinge on the outcome of the 2012 season. Both men will need to convince their new boss that the team is moving in the right direction after years without much progress. The Browns have just two winning seasons since being reactivated in 1999.
The sale of the team will be approved by NFL owners at their October meeting. A special meeting to approve the deal sooner is possible. The NFL requires approval from two-thirds of league owners to make it official.
Haslam will pay more than $1 billion for the team, though an exact amount has not been reported. To start, he will own a 70 percent share of the team, with Randy Lerner retaining a 30 percent stake. On the fourth anniversary of the sale's closing, Haslam will take on complete ownership.