Jimmy Haslam will be introduced as the new owner of the Cleveland Browns at a 1 p.m. news conference on Friday.
Haslam will take over contingent on league approval, which is not expected to be an issue.
The Browns released a statement late Thursday afternoon confirming the sale from the Lerner Family Trust to Haslam, the CEO of Tennessee-based Pilot Flying J Corporation (the nation’s largest retail operator of travel centers and truck stops).
Haslam released a statement through the Browns promising to keep the team in Cleveland, and “seeing it get back to the elite of the NFL.”
“We plan to bring relentless dedication and hard work to every aspect of this organization, and we look forward to getting to know this team and community as quickly as possible,” Haslam said. “Our family is committed to becoming an integral part of the Cleveland community.”
Haslam has been a minority owner of the Pittsburgh Steelers since 2008, and must sell his interest in the Steelers before taking over the Browns.
"He's a fine guy, I can tell you that," said Dan Rooney, Chairman Emeritus of the Steelers and U.S. Ambassador to Ireland. "I can't tell you a lot else, but he knows the game and he'll be an excellent partner."
Rooney, speaking at the team’s training camp in Latrobe, Pa., smiled at the notion of a minority owner of the Steelers helping the team in Cleveland.
"It will help the league," he said. "It might make things a little tougher, but that's what it's all about. He'll be a good partner."
Privately, Steelers employees seemed genuinely sad that Haslam would no longer be part of their team; everyone seemed to like and admire him. A few joked with Haslam, though, that he will lose at least two games every season.
The price was reported at $1 billion.
The sale is not expected to meet with much, if any, opposition from NFL owners. The only question is when the actual vote takes place; it could come this month in a special vote, or as late as October at a regular owners meeting.
The process of selling his interest in the Steelers might not be difficult, but could take time.
Steelers president Art Rooney II declined to comment, as did other minority owners approached to discuss the sale.
Randy Lerner said in a statement that Haslam approached him several weeks ago about buying the team, and Lerner listened only out of responsibility to his family.
The more he heard, the more he realized Haslam was making a serious offer. Lerner called the offer “natural and complete.”
“As I was at first overwhelmed, I asked for a few days to consider the proposal during which time I consulted with my mother and sister, Lerner said in his statement. “Over this short period we agreed that the proposal was strong, the buyers made sense and the time was right for us to move on.
“Going forward, we anticipate that the league will meet and vote on the deal, and the closing is expected to follow shortly thereafter. During this time the organization will operate as it has in the past with all senior executives in place.”
Lerner, who took over the Browns when his father Al died in 2002, said it was a privilege to be involved with the Browns.
The sale agreement will be submitted to the NFL for review. The league’s Finance Committee then makes a recommendation to the teams, and a vote follows. Approval of 24 of the 32 teams is required.
It’s still now known how or if the sale will affect any of the Browns employees once the sale is completed.
If the league approves the sale before the season via a special voting meeting -- as originally expected -- it’s possible there could be immediate transition involving team president Mike Holmgren.
If approval takes until October, Holmgren could stay.
