News
News Home
The Regina Brett Show
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
Weather
From WKYC.COM / TV 3
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

SummaCare

Metro RTA


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Sports


Why the Browns are for sale
Crain's Cleveland Business reporter says owner Randy Lerner's issue is not money
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
The Browns' lease on Browns Stadium runs through 2029, and fans have been assured the team is not moving
Courtesy of WKSU
In The Region:
Cleveland Browns’ President Mike Holmgren is confirming the Browns are for sale but won’t be going anywhere.
At a press conference Friday, Holmgren said team owner Randy Lerner is negotiating the sale of a majority stake in the Browns to Tennessee businessman Jimmy Haslam the Third. Haslam already has a minority stake in the Pittsburgh Steelers. WKSU’s Kabir Bhatia has more on why the team is seeking a new owner.
Why the Browns are for sale

Other options:
Windows Media / MP3 Download (2:46)


(Click image for larger view.)

WR Hambrecht, a sports finance company, puts the Browns' 2012 value just slightly above the team's 2006 value
Forbes magazine ranks the Browns as the 30th most valuable sports team in the world, at nearly $1 billion. But the same magazine ranks Randy Lerner as the fourth worst owner in the NFL.

He inherited the team in 2002 from his late father, credit card magnate Al Lerner. Four years later, he bought England’s Aston Villa soccer team, which has suffered big financial losses for the last two years.

But Joel Hammond of Crain’s Cleveland Business does not think Lerner’s problem is money.

Since Art Modell moved the Browns in 1995, the Steelers have made the playoffs 10 times and won two Superbowls. The Browns have won less than a third of their games and made the playoffs once.

But, the team continues to sell out, and at a press conference, Browns President Mike Holmgren said the team won’t be moving. Hammond, of Crain’s Business, says the NFL will have to approve any sale and they simply will not allow it.

Jimmy Haslam’s Tennessee-based Pilot/Flying J is the 11th largest privately held company in the country. NBC Sports is reporting that former Philadelphia Eagles President Joe Banner also is part of the group trying to buy the Browns.
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Husted's voter-address plan is under scrutiny
=========== The new directive allows voters to make the updates online for the first time. =========== Ahem!!! You might want to do some fact checking before ...

Leveling the field between private and public school sports
Consideration should be given to establishing a limit on athletic scholarships to private schools (which may be disguised as financial aid to poor students). I...

Thirteen Cleveland firefighters indicted
What was stolen? Section 7(p)(3) of the FLSA provides that two individuals employed in the same capacity by the same public agency may agree, solely at their ...

Union refuses to back gay teacher fired by Catholic school
Catholic schools can be very vindictive regarding the lifestyles of their teachers. Insurance does not pay for birth control, non-Catholic teachers are replace...

Drilling for wind on Lake Erie
May God help us defeat the WIND MONSTER ...

Raise a glass to craft beer week
Vivian, What a great interview - Just done so professionally. I loved the way you smoothly transitioned from production to interview to history of the company...

Castro could face death penalty as abduction case goes to a grand jury
I thought kidnapping was automatically a federal charge. Is it not?

Funk Hall of Fame in Dayton?
My quesiton how much of this groups own money are they investing? What resources has the City of Dayton's Mayor Leitzell (who just lost the run off elections) ...

Ohio has an election Tuesday; who knew?
WHY isn't there any information in this article about what the issues are for???????? Oh, I guess so only those who know about it will vote and everything will...

Copyright © 2013 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University