Modell died of natural causes on Thursday. He was 87 years old.
Modell was one of the most influential owners in the NFL's history, but is perhaps best-known for moving the Browns to Baltimore in 1996. The "other appropriate gesture" is likely geared toward the current Browns, as many fans will never forgive Modell for moving the team.
The Browns did confirm earlier that they will honor Modell during Sunday's opener against the Philadelphia Eagles, although a specific plan has not been decided, according to Cleveland.com.
"We're trying strike the right balance,'' Browns spokesman Neal Gulkis said today. "We want to show respect and dignity for Modell's family, the community and the fans.''