Statement by Randy Lerner

"On behalf of my family and as trustee for the Lerner Family Trust, which holds the shares of the Cleveland Browns, I have agreed to sell the Browns to Jimmy Haslam and his family.

"I was approached regarding Mr. Haslam’s interest several weeks ago. While as a fiduciary I have always felt it was my responsibility to listen to offers, I had not been approached with a proposal that felt as natural and complete as Mr. Haslam’s. He had done a lot of work on the Browns and the City of Cleveland and first and foremost gave me his personal assurance the team would remain in Cleveland.

"As I was at first overwhelmed, I asked for a few days to consider the proposal during which time I consulted with my mother and sister. Over this short period we agreed that the proposal was strong, the buyers made sense and the time was right for us to move on.

"Going forward, we anticipate that the League will meet and vote on the deal and the closing is expected to follow shortly thereafter. During this time the organization will operate as it has in the past with all senior executives in place.

"While a statement like this is certainly part of the process, it couldn’t possibly capture my feelings towards the Browns and the many people whom I feel very strong about. Those feelings therefore will need to be expressed in person. Notwithstanding, I feel a deep debt of gratitude to the loyal and passionate fan base, as well as the people I’ve met and worked with over the years. It has been a privilege to be involved with the Cleveland Browns and my only hope is that the Haslam family has the best of luck and that the Browns are restored to their rightful place among NFL Champions."

BEREA, Ohio -- Jimmy Haslam III, the new owner of the Cleveland Browns, will watch practice and be introduced at a press conference here on Friday at 1 p.m.

Browns President Mike Holmgren confirmed that Haslam will meet with the local media Friday. He also confirmed that an "agreement was reached'' between Randy Lerner and the Tennessee businessman on the sale of the team.

"This is a very exciting time for my family and me," Haslam said late Thursday afternoon in a statement released by the team. "To own such a storied franchise as the Cleveland Browns, with its rich tradition and history, is a dream come true.

"We are committed to keeping the team in Cleveland and seeing it get back to the elite of the NFL – something all Browns fans want and deserve. We plan to bring relentless dedication and hard work to every aspect of this organization, and we look forward to getting to know this team and community as quickly as possible.

"Our family is committed to becoming an integral part of the Cleveland community. We also want to thank Randy Lerner for his friendship, counsel and support during this process.”

The transfer is set to be approved by the owners in October.

At this time, no special meeting has been called by Commissioner Roger Goodell to approve the deal earlier. League spokesman Greg Aiello said "it's possible,'' but premature to discuss a special meeting. A vote of three-quarters of the owners is required.

Haslam, who will purchase the team for more than $1 billion according to ESPN's Adam Schefter, will initially own 70 percent and Lerner will keep 30 percent. Haslam will then buy Lerner's shares, a source told The Plain Dealer. The AP reported that will happen on the fourth anniversary of the closing date.

Haslam, who's been a minority owner of the Steelers since 2008, has long wanted to own a football team. Before Haslam was even permitted to enter into negotiations, he had to agree that he wouldn't move the team out of Cleveland. The Browns are tied to a 30-year lease through 2029 with Cleveland Browns Stadium.

Haslam, CEO of Pilot Flying-J Travel Centers, will not make any decisions on Holmgren or other staff members until he takes over. The Plain Dealer reported that former Eagles President Joe Banner will join Haslam in Cleveland, but Banner has declined to comment.

Holmgren said "I hope to'' remain as president of the team, but acknowledged such talk is premature. He said he spoke with Haslam Wednesday night and that he'll meet with him when he gets here.

"It was nice to hear his voice,'' said Holmgren. "We look forward to spending some time together when he gets to town.''

Holmgren told The Plain Dealer Wednesday "I hope I have the opportunity to sit down with (Haslam) at some point and tell him what a fine job the people in this building are doing.''

Haslam will first have to divest of his Steelers shares, an estimated 10 to 16 percent, but that won't be an issue. The NFL's finance committee will then meet to recommend approval of the sale, but Haslam already passed the league's review when he purchased his Steelers' interest.

Lerner's sale of the Browns transpired rather quickly, with the two parties communicating for the first time within the last 45 days.

Haslam, 58, is expected to be a visible and involved owner, and will spend time both here and in his hometown of Knoxville, Tenn. where Pilot is headquartered.

Browns coach Pat Shurmur said today that the sale will not affect the team's performance this season.

"I have no fear,'' said Shurmur. "I have no fear about any of that because I trust my coaches, I trust the players and I’ve watched the work they’ve done based on the conversation of this last week. I’ve watched the work that they’re doing and I have no fear. I think we’re moving full steam ahead. That doesn’t bother me one bit at this point. My concern is getting this team ready to play and our players understand that message and they are doing a good job.''

The following is Haslam's Pilot Flying J bio:



James A. Haslam III, a Knoxville native, joined Pilot Corporation in 1976, a company his father, James A. Haslam II founded in 1958. During Haslam's career, Pilot Travel Centers has grown its annual gallon sales from approximately 125 million to 8 billion. In addition, the company has grown its network from 7 states in the Southeast to 43 states in the US and 6 Canadian provinces with over 600 travel centers and travel plazas. Today, Pilot Flying J is one of the top privately held companies in the United States and employs more than 21,000 people.

Haslam’s civic involvement includes service on the boards of directors for the United Way of Greater Knoxville and Lakeshore Park. He is the co-founder of the Haslam Scholars Program at the University of Tennessee and formerly served as campaign chair for Knox Area Rescue Ministries and United Way of Greater Knoxville.

Haslam also serves on the boards of Innovation Valley Inc., the National Association of Truckstop Operators, First Horizon Corporation, and Anderson Media Corporation. In 2006, he served as Tennessee statewide campaign chair for the now United States Senator Bob Corker. Haslam was also the 2010 Tennessee statewide campaign chair for now Governor Bill Haslam. In 2010, he was named a recipient of the Ernst & Young Entrepreneur of the Year award for the Southeast region. In October 2011, Haslam was recognized as a "Significant Sig" by the Sigma Chi Foundation. He also received the University of Tennessee College of Business Administration’s Distinguished Alumni Award.

In 2008, Haslam became a part owner of the Pittsburgh Steelers, marking the first time ownership of the franchise expanded beyond the Rooney and McGinley families.

Haslam is married to Susan "Dee" Bagwell Haslam, CEO of RIVR Media. They have three adult children, Jim, Whitney and Cynthia and four grandchildren.