August 3, 2012 in Sports

Browns reach deal to sell team for $1 billion

Associated Press
 

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

Team President Mike Holmgren confirmed Thursday that owner 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.

“It’s an agreement that has been reached,” Holmgren said.

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. The person with knowledge of the sale said approval is expected by the end of September.

ESPN reported the sale price was more than $1 billion. For comparison, the Miami Dolphins sold at a value of more than $1 billion in 2009.

Jets’ Tebow featured

It was Tebow Time for the New York Jets in goal-line drills.

The Jets provided a small glimpse for the first time during training camp into their plan for Tim Tebow on offense, as the backup quarterback ran for two touchdowns and threw for another to Josh Baker in a four-play sequence that got the crowd at SUNY Cortland fired up.

Manning hits target

Even with Eric Decker down, Denver quarterback Peyton Manning didn’t miss a beat.

When Decker went out with a strained groin, Demaryius Thomas stepped up to solidify his standing in Manning’s eyes and with Denver’s offense.

Thomas made several big catches, including a 35-yard TD from Manning.

Around the league

NFL Commissioner Roger Goodell says he may discipline Detroit defensive tackle Nick Fairley, who is charged with marijuana possession and a DUI in two separate cases in Alabama. … Carolina terminated the contract of offensive tackle Jeff Otah.

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