Browns Sold For Over $1B
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The one part I don't get yet about this deal... if Haslem bought the Browns for over 1B, did he get 100% ownership, or did he pay 1B for 70%, since we have seen reports that Randy Lerner was keeping a 30% stake. Maybe that second 300M payment is to buy out Randys 30%?
So Al paid ~530M for the expansion team in 1998, and 14 years later his son sells either all of it, or 70% of the team for a billion dollars. wow
The one part I don't get yet about this deal... if Haslem bought the Browns for over 1B, did he get 100% ownership, or did he pay 1B for 70%, since we have seen reports that Randy Lerner was keeping a 30% stake. Maybe that second 300M payment is to buy out Randys 30%?
So Al paid ~530M for the expansion team in 1998, and 14 years later his son sells either all of it, or 70% of the team for a billion dollars. wow
ESPN said Haslem is buying the team in two parts. First he'll be paying $700 million for control of the team. The 2nd part of the deal he'll pay the rest of the $300 million for full controll. They didn't give a timeline of when it will happen though.
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The one part I don't get yet about this deal... if Haslem bought the Browns for over 1B, did he get 100% ownership, or did he pay 1B for 70%, since we have seen reports that Randy Lerner was keeping a 30% stake. Maybe that second 300M payment is to buy out Randys 30%?
So Al paid ~530M for the expansion team in 1998, and 14 years later his son sells either all of it, or 70% of the team for a billion dollars. wow
The one part I don't get yet about this deal... if Haslem bought the Browns for over 1B, did he get 100% ownership, or did he pay 1B for 70%, since we have seen reports that Randy Lerner was keeping a 30% stake. Maybe that second 300M payment is to buy out Randys 30%?
So Al paid ~530M for the expansion team in 1998, and 14 years later his son sells either all of it, or 70% of the team for a billion dollars. wow
Not to mention ALL the cash the Lerners made in those 14 years. Pretty good investment if you can get it
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Now I assume he'll be 100% the biggest Browns fan ever.
Just hope learning how the Rooneys run a successful NFL franchise has rubbed off on him.Now I assume he'll be 100% the biggest Browns fan ever.
Just hope learning how the Rooneys run a successful NFL franchise has rubbed off on him.i'm pretty sure that we would have learned very little as a Steelers minority owner. He probably attended few, if any, meetings. Besides, he had his own business to run.
One thing that he did learn is that he wanted to own a football team. Now he has one.
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i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
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i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
I'm concerned about this also. We had a big pot to pay players before. I think the pot got a lot smaller with the new owner.
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i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
I'm concerned about this also. We had a big pot to pay players before. I think the pot got a lot smaller with the new owner.
I'm concerned about this also. We had a big pot to pay players before. I think the pot got a lot smaller with the new owner.
I would think that this wouldn't be as much an issue after this season as you have to use at least 89% of your cap space, which might be why Randy Lerner sold the team this year...
Which of course makes him look like a cheap bastard...not at all the moneybags everyone is giving him credit for.
http://tampabay.sbnation.com/2011/7/30/2304918/nfl-salary-cap-floor-doesnt-take-effect-until-2013
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awesome article http://www.beastfitnation.com/sources-browns-sold-for-over-1b/
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What an awful article
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The one part I don't get yet about this deal... if Haslem bought the Browns for over 1B, did he get 100% ownership, or did he pay 1B for 70%, since we have seen reports that Randy Lerner was keeping a 30% stake. Maybe that second 300M payment is to buy out Randys 30%?
So Al paid ~530M for the expansion team in 1998, and 14 years later his son sells either all of it, or 70% of the team for a billion dollars. wow
Not to mention ALL the cash the Lerners made in those 14 years. Pretty good investment if you can get it
Not to mention ALL the cash the Lerners made in those 14 years. Pretty good investment if you can get it
I wonder what they would say if I walked into my bank and requested a billion dollar loan?
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Not to mention ALL the cash the Lerners made in those 14 years. Pretty good investment if you can get it
I wonder what they would say if I walked into my bank and requested a billion dollar loan?
I wonder what they would say if I walked into my bank and requested a billion dollar loan?
"OK, but we need to see your last 4 pay stubs"
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I read somewhere that he's getting 70% of the team and the other 30% will be his on the fourth anniversary of the sale. So I presume he'll be 100% owner on 08/02/16.
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i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
The family is pretty deep in cash. About 3.5 deep.
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>>The family is pretty deep in cash. About 3.5 deep.>>
So many people here seem to be so caught up in how deep the new owner's pockets are.
The Lerners had the deepest of the deep and their organization 'stunk' for nearly 15 years.
Don't mix up money with smarts (and commitment).
This new owner will do just fine.
How could he make things worse.
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i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
The difference is that in the NFL just having money isn't enough. Look at Dan Snyder etc. The Rooneys may be one of the poorest of NFL owners, yet they know how to manage a football team. With shared revenues, etc. the wealth of the owner of an NFL team is less relevent than an MLB owner. Now, if Lerner really wanted to own the Indians and put his big money into that....that would be great. But I think he has less passion for baseball than he did football. He is essentially a Eurofag. He will probably want to buy a German professional handball team.
But, as I have said, if he really likes soccer he should buy into the MLS for a Cleveland team. He can hold games in Cleveland Browns stadium perhaps.
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i want to get excited about this, but i need some encouragement. It smells like Dolan/Indians all over again.
Jacobs bought the Indians for $35 million and sold the team to Dolan for $300 million. Now, did Dolan have $300 million laying around to buy the team? No. He had to borrow. He's been saddled with debt service on his loans while our star baseball players have left for greener pastures.
Does anyone think that Mr. Haslam has $1 billion sitting around in a mutual fund? Let's hope so.
The difference is that in the NFL just having money isn't enough. Look at Dan Snyder etc. The Rooneys may be one of the poorest of NFL owners, yet they know how to manage a football team. With shared revenues, etc. the wealth of the owner of an NFL team is less relevent than an MLB owner. Now, if Lerner really wanted to own the Indians and put his big money into that....that would be great. But I think he has less passion for baseball than he did football. He is essentially a Eurofag. He will probably want to buy a German professional handball team.
But, as I have said, if he really likes soccer he should buy into the MLS for a Cleveland team. He can hold games in Cleveland Browns stadium perhaps.
The difference is that in the NFL just having money isn't enough. Look at Dan Snyder etc. The Rooneys may be one of the poorest of NFL owners, yet they know how to manage a football team. With shared revenues, etc. the wealth of the owner of an NFL team is less relevent than an MLB owner. Now, if Lerner really wanted to own the Indians and put his big money into that....that would be great. But I think he has less passion for baseball than he did football. He is essentially a Eurofag. He will probably want to buy a German professional handball team.
But, as I have said, if he really likes soccer he should buy into the MLS for a Cleveland team. He can hold games in Cleveland Browns stadium perhaps.
Good point.
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don't think he'll 'stickin around' cleveland for very much longer. doesn't have to deal with all the US thug-a-lugs anymore and our boorish ways. he can sit and have his spot of tea and still collect money while being thousands of miles away watching 'football' (HA!)
remember he has that castle to build.
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don't think he'll 'stickin around' cleveland for very much longer. doesn't have to deal with all the US thug-a-lugs anymore and our boorish ways. he can sit and have his spot of tea and still collect money while being thousands of miles away watching 'football' (HA!)
remember he has that castle to build.
don't think he'll 'stickin around' cleveland for very much longer. doesn't have to deal with all the US thug-a-lugs anymore and our boorish ways. he can sit and have his spot of tea and still collect money while being thousands of miles away watching 'football' (HA!)
remember he has that castle to build.
Do you mean Futbol?
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I believe this is a great thing and in the not so distant future, I believe the Browns will make the AFC North the best and toughest division in the entire league. Can you imagine 4 teams from the same division fighting it out every year for only 3 spots in the playoffs? The best part about that is all 4 teams will be deserving of a playoff spot but one will be left out since the West really sucks, lol.
It could be wild seeing the Browns, the Bengals, the Ravens and the Steelers all having 13-3 records with the 3 loses coming to away losses at each divisional opponant. It would all come down to coin flips on which 3 teams out of the division make the playoffs. This happening year after year getting each other ready to win the Super Bowl every year.
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Well, things can only get better, right?
He's a Steelers fan from Tennessee and a businessman.
He does not give a shit about you or Cleveland.
And you believe him when he says he's gonna keep the team in a small market?
His family made all their money by putting their businesses on the main roads with high traffic and big markets.
Cleveland peaked in the 1960 US Census.
Consider the Ravens, They do not sow or reap, they have no storeroom or barn; yet God feeds them. And how much more valuable are you to God than the Ravens? Book of Luke, Chapter 12, Verse 24.
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