Amid a number of speculative media reports, Browns owner Randy Lerner on Friday released a statement that confirms negotiations are underway to bring in another investor, not to potentially sell a portion of the team.
“In connection with current rumors and press inquiries, I can report that I've been approached by Mr. Jimmy Haslam, who is interested in making an investment in the Cleveland Browns.
"We are currently in negotiations and both sides have agreed to keep that dialogue and its details private. Given that any transaction would require League approval, care has been taken so that this process will not be disruptive to the organization, in particular the football team, as it prepares for the upcoming season. We will share further details or make an announcement if it becomes necessary.”
Haslam is CEO of Pilot Flying J, a nationwide chain of truck stops.
It would appear based on the statement released by Lerner that Haslam is negotiating only to invest in the Browns and not to purchase the team or gain majority interest.
But one must wonder how significant the investment would be considering Lerner has vowed secrecy to prevent the attention from becoming "disruptive to the organization, in particular the football team, as it prepares for the upcoming season."
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