News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Lehmans

Don Drumm Studios


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


Cleveland Browns sell for more than $1 billion
Truck-stop magnate Jimmy Haslam III will get 70 percent now, and 30 percent in 4 years
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
Quarterback Colt McCoy runs the Browns offense during training camp in Berea. He and his teammates will soon be playing for a new team owner, Jimmy Haslam III.
Courtesy of Ron Schwane, Associated Press
Download (WKSU Only)
In The Region:

The Cleveland Browns have been sold for more than $1 billion to Tennessee truck-stop magnate Jimmy Haslam III.  WKSU’s Kabir Bhatia spoke with sports commentator Terry Pluto about why a losing team went for so much money.

Cleveland Browns sell for more than $1 billion

Other options:
Windows Media / MP3 Download (3:54)


(Click image for larger view.)

By the numbers, the Browns may not look like the 30th most valuable sports team in the world. 

Since its 1999 rebirth, the team has won less than a third of its games and made the playoffs just once.  Forbes magazine last year ranked Randy Lerner as the fourth worst owner in the NFL.

So he’s selling 70 percent of the team to the man who runs Pilot/Flying J truck stops, Jimmy Haslam III.  The remaining 30 percent goes to Haslam in four years, assuming the NFL approves the sale.

The price tag is about double what Randy Lerner’s father, Al, paid for the team in 1998, and WKSU sports commentator Terry Pluto says the boost is due to a number of factors.

“That’s based on the fact that the NFL keeps growing, the TV pot keeps getting bigger and bigger.  And a big thing, too, if you’re an owner, is the brand new labor agreement that goes on for a minimum of seven years.  [So] you’ve got a pretty good idea of what it’s going to cost to run this operation, and that helps you to really project profits.”

WKSU sports commentator Terry Pluto.  He says Haslam’s minority stake in the Pittsburgh Steelers actually helped him get a leg up on the Browns sale, as he’s already been vetted by the NFL.  And moving the team is out of the question for a number of reasons, starting with the fact that the Browns have another 18 seasons left on the lease at Browns stadium.

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

What the U.S. Supreme Court ruling means for early voting
r.gov trying to slow down voters to stop the people from voting out the r. govener

Cleveland Orchestra heads home from Europe
So proud to be a lifetime Clevelander! Yes, our Orchestra is the best ambassador a city could hope for! My wife and I happened to hear the European Festival T...

Northeast Ohio undocumented immigrants praying for a miracle
Stop it, just stop it. They are not undocumented but illegal aliens. I live in a 'sanctuary' city and it's not pretty. Dahlberg is a notorious trouble maker in ...

Ohio survey shows low-income people are choosing phones over food
Where is this study published? no sign of it on google scholar. is there a cite

The Akron Sound rocks the porches
fabulous group interview! you covered so much in so little time. wish i could be there for porch rockr.

Head of Ohio Dems says Kasich administration is lying about Suarez contacts
when Kasich's mouth is open , he's lying. Look what he did at Lehmans brothers and then lied about it all during the campaign. If a GOP didn't lie, he or she ...

Canton's Basilica of St. John absorbs news of the pope at morning Mass
Hello Chris,Marina,and Patrice, I just read this article and you all look great. I'm on facebook Jean Dutcher in blue and white stripped blouse. I"M so glad to ...

Exploradio: Avoiding the 'acting-white' trap
Growing-up black and being black should not determine that you will not speak well or will not be a high achiever in your goals in life.But society te nds to la...

Charter-school supporters to rally at Statehouse
I am on the bus now headed to the rally. Horizon is an excellent school. My son is is 7 th grade. The teachers and administrators are top notch and spend so m...

Former Nursing Home Land Added to Parks
In addition, LED technology also plays a very important role in advertising- LED placard is very, very useful for shop owners.

Copyright © 2014 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