Cleveland Browns Offically Sold to Jimmy Haslam III

The Cleveland Browns have a new owner, as today the NFL owners unanimously approved the sale of the team to Jimmy Haslam III.

The sale was approved during the owners meeting in the Burnham Ballroom at the JW Marriott hotel in downtown Chicago. Haslam, whose family owns truck-stop empire Pilot Flying J, needed 24 of the league’s 32 owners, or three-fourths, to vote in his favor.

The thought was there was no question that the sale would be approved to the 58-year-old, who paid a reported $1 billion for the franchise.

The sale, from now former owner Randy Lerner, is expected to close in the next couple of weeks.

Lerner will retain a 30 percent stake in the team for four years before Haslam takes complete control. Lerner did not attend the meeting.

Haselm is in the process of selling off his 12.5 percent of the Steelers that he still currently owns.

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