The sale of the Cleveland Browns to Jimmy Haslam III for $1 billion was approved in a unanimous vote Tuesday by NFL owners, according to a report on the league’s website.
“It’s going to be a great situation for Cleveland, their fans, players, coaches, and the National Football League,” Atlanta Falcons owner Arthur Blank said according to the NFL Network’s Ian Rapoport. “Cleveland does have a storied history. It’s important to (return back to that). It’s a great franchise, it’s been a great franchise.”
Haslam struck it rich with Pilot Flying J truck stops and has been a minority owner of the Pittsburgh Steelers—though he has sold his shares to go all in in Cleveland.
Haslam announced that Mike Holmgren will step down as team president and retire at the end of the season. Former Eagles CEO Joe Banner will take over as CEO on Oct. 25.