|Holmgren's tenure in Cleveland will be over at the end of the season. (US Presswire)|
The league announced Tuesday that Jimmy Haslam has been formally approved as the Browns owner. The sale to Haslam, a Tennessee businessman, took place in August but was subject to approval of the other owners, which came today at the league meetings in Chicago in a unanimous vote.
Joe Banner will be announced as the new CEO/top executive this week, sources tell CBS Sports' Jason La Canfora, and Holmgren will retire at the end of the season. Holmgren learned of Banner's arrival on Sunday and will stay on to aid the transition, but no longer has any say in team policy or decisions.
Holmgren approached former owner Randy Lerner about having a reduced role prior to this season and, though the team has struggled mightily on the field during his reign, the business side was greatly improved and aided, which ultimately made it easier for Lerner to strike the kind of deal he wanted to sell the Browns.
League soures tell La Canfora that Holmgren has no interest in pursuing other football ventures -- coaching or front office.
"He's a guy who's committed to doing things right," NFL Commissioner Roger Goodell said of Haslam's approval. "He wants to make sure that the Cleveland Browns are represented the right way, that they're going to have a winning franchise and that they're a big part of the community. That's great news for the fans."
Holmgren, who previously coached the Packers and Seahawks, joined the Browns in January 2010. In that time, the team has gone 10-28, including a 1-5 mark this season.
The first question Haslam asked Holmgren in their initial meeting back in August was if rookie first-round pick Brandon Weeden could play. The inquiry -- and the implications about Holmgren's overall personnel skills -- didn't portend good things for his future with the organization.