NFL: Cleveland Browns sold to truck-stop magnate

Associated Press

Published: Thursday, Aug. 2 2012 10:58 p.m. MDT

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FILE - In this Oct. 23, 2011, file photo, Cleveland Browns' quarterback Colt McCoy (12) is greeted by his team during player introductions before taking on the Seattle Seahawks in an NFL football game in Cleveland. Browns owner Randy Lerner has reached a deal to sell the team to Tennessee truck-stop magnate Jimmy Haslam III, according to multiple reports on Thursday, Aug. 2, 2012. ESPN and the NFL Network said Thursday that an agreement on the team sale had been reached. ESPN said the sale price was for more than $1 billion. (AP Photo/Amy Sancetta, File)

Associated Press

Summary

Here's one to make Cleveland fans shake their heads: A partial owner of the hated Pittsburgh Steelers is buying the Browns.

Randy Lerner has reached a deal to sell the club to Tennessee truck-stop magnate Jimmy Haslam III — a minority stockholder in the rival Steelers.

Lerner will sell 70 percent of the Browns to Haslam now, with the other 30 percent reverting to him four years after the closing date, a person with knowledge of the sale told The Associated Press on condition of anonymity because details have not officially been announced.

While the papers have been signed, the NFL still must approve the sale. Getting the nod from 24 of the 32 teams is required, and no date has been set for a vote because the sale has not been presented to the league yet.

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