Browns Owner In Negotiations To Sell 'Investment' In Team

Browns owner Randy Lerner released a statement announcing that he was in negotiations with Jimmy Haslam to purchase an "investment" in the team.

Rumors have been circulating that the Cleveland Browns are for sale, and though the team has denied that in the past, owner Randy Lerner released a statement indicating that he and Jimmy Haslam, founder of the Pilot Corporation, are negotiating an "investment" in the team.

Nov. 30, 2004; Berea, OH, USA; Cleveland Browns owner Randy Lerner speaks to the media about the resignation of Butch Davis and the naming of Terry Robiskie as the interm head coach of the Cleveland Browns at the Cleveland Browns training facility. Former

"In connection with current rumors and press inquiries, I can report that I've been approached by Mr. Jimmy Haslam, who is interested in making an investment in the Cleveland Browns. We are currently in negotiations and both sides have agreed to keep that dialogue and its details private. Given that any transaction would require League approval, care has been taken so that this process will not be disruptive to the organization, in particular the football team, as it prepares for the upcoming season. We will share further details or make an announcement if it becomes necessary."

It's not clear what "investment" means. Is he selling the entire team? Or just a small share? Who will be the majority owner?
As recently as June, the Browns said the team is not for sale.
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