New Browns Owner Jimmy Haslam Gives Up Stake In Steelers

Discussion in 'Cleveland Browns' started by SRW, Apr 11, 2013.

  1. SRW

    SRW Ex-World's Worst Site Admin

    New Cleveland Browns owner Jimmy Haslam no longer has a stake in the Pittsburgh Steelers.

    The Steelers announced Thursday that Haslam's minority share in the team has been bought by existing stockholders and new investors Scott and Russ Swank.

    Haslam purchased the Browns in October and directed Steelers President Art Rooney II and Morgan Stanley to find suitable buyers for the shares he acquired in 2008.

    Haslam spent $1.05 billion last October to buy a 70 percent stake in the Browns from Randy Lerner. Haslam - who made his fortune as president and CEO of Pilot Flying J, the largest operator of travel centers and travel plazas - will receive the remaining 30 percent owned by Lerner in 2016.

    Source: Associated Press
     
    Last edited: Apr 11, 2013
    SRW, Apr 11, 2013
    #1
  2. 86WARD

    86WARD -

    Isn't that something that should have been done before purchasing the Browns?
     
    86WARD, Apr 11, 2013
    #2
  3. Alcohol_IV

    Alcohol_IV eBattle Champion

    No, because it wasn't a controlling stake.
     
    Alcohol_IV, Apr 12, 2013
    #3
  4. CaptainStubing

    CaptainStubing Gave her a Dirty Sanchez

    god, if the browns are worth $1.5 billion, imagine what some of the better organizations are now worth?

    :jawdropper:
     
    CaptainStubing, Apr 12, 2013
    #4
  5. TheSnowman

    TheSnowman #1 Trap Star

    NFL teams are damn near printing their own money at this point
     
    TheSnowman, Apr 12, 2013
    #5
  6. Diesel44

    Diesel44 Serial Killer

    i'm guessing they also bought the stadium too?
     
    Diesel44, Apr 12, 2013
    #6