By LG

NFL insiders are reporting that Cleveland Browns owner, Jimmy Haslam III will be forced to sell the team. The concerns are that Haslam’s bank accounts are going to take harder hits  than Cleveland quarterback Brandon Weeden took in his first game last season, leaving the billionaire in poor financial shape.

The NFL has standards for team owners. The insiders are saying, if Haslam loses enough law suits, he may no longer meet the standards they have for team ownership. If Haslam was as smart as he thinks he is, he would already put the for sale sign up on the team.

This scandal is a large distraction for the Cleveland Browns. Some fans are so disgusted about the events surrounding Haslam and his truck stop company, they refuse to even talk about it. They cannot believe their hopes in the new ownership has been taken away already.

This could be the shortest lived ownership in NFL  history.  Haslam is refusing to step aside and continues to say he and his company did nothing wrong. He puts on a great show. The sooner this gets behind the great city of Cleveland the better off the Browns will be. If the ownership of the Cleveland Browns changes hands again, how long is the rebuilding process going to last? Would Chudzinski be the head coach? Would Joe Banner be the teams President?

There are lots of questions that people are wanting answers to. The future of the Cleveland Browns with Jimmy Haslam III as owner, doesn’t look bright…..

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Readers Comments (14)

  1. JohnnyV

    Are you kidding – Surely you can do better than this. Regarding the financial part of it (bank accounts), the “insiders” dont have a clue.

     
    • LG

      What are you saying? That Haslam has so much cash it won’t matter how much he has to pay out?

       
      • JohnnyV

        What i’m saying is that Flying J/Pilot surely has structure in place to protect the company in case something happens. I’m willing to bet there are several companies which limits how much of the company can be taken (down). Not my area of expertise. Further, Haslam has his money, company money and shares in the company.
        After thinking about it and writing this repsonse the following is taken from Wikipedia – The company is owned by Pilot, FJ Management Inc., and CVC Capital Partners… ALSO, CVC Capital Partners is a private equity firm with approximately US$46 billion in funds focused on management buyouts. Since 1981, CVC has completed over 250 investments across a wide range of industries and countries.

        Like I said there’s more to it.

        Criminal charges against Haslam is another can of worms. So far thats all supposition. He owns the Browns independent of the company and over the past 10 years has donated about 45 million to charity. No matter how you slice it, a guy like that is more useful out of jail than he is in it. If a plea bargin is needed I’ll bet he’ll find a way to work things out. Hell, OJ was running free until..well you know.

         
    • William Crowell

      The Lawsuits will take at the least 4 or 5 years to make it to Court. Add in appeals and such, and it is easy to see that over the long haul, the plaintiffs of the suits will have to explore an option of settling the claims sooner rather than MUCH later.If JH hangs onto the team for five years, provided the Browns have moved up into the middle of the pack for wins and losses, he will be able to double his investment’s value. So I for one think all the speculation on JH having to sell the team or not. A business that has revenues of 29 billion dollars annually, is able to take major hits……bc

       
  2. RICK

    LG, Maybe the fans don’t talk about because it’s not a huge distraction.If they are not talking about it how do you know there hopes were taken away.

     
    • LG

      Rick, some of the fans I have talked to say they don’t talk about it because it makes them sick to think about it….

       
  3. RICK

    LG, Weeden makes some people sick too but they don’t have a problem talking about it. LOL

     
    • LG

      Good Point Rick…

       
  4. Jeremy

    Haslem point blank said that he has called “250 – 300″ of his affected trucking customers to try to make amends by paying them their owed rebates, and has put several sales team members on indefinite leave. This tells me that he is admitting that the incidents happened, and that he is doing his best to address the charges against himself and his company. Unless, he goes flat broke, he won’t lose the team.
    Where do you get your info? The “fans” you talk to do not represent myself or any of my friends. Try creating a poll to graph some real statistics on any given subject…

     
    • LG

      You got it….I’ll make the poll…..

       
  5. MPH

    The nfl will protect themselves and should be very carefull not to force a guy out until he is proving at fault. Besides in the end Haslam will problem be cutting checks in amounts that are chump change to him and some 6 figure executives will get the blame. Remember Haslam was forced to sell gas stations at one point to his competitors just for a fair market. Plus not to mention all his political ties in being a huge Republican Party financial supporter. A lot of people are also in Haslams corner only time will tell.

     
  6. NINO

    ONLY TIME WILL TELL, THEN MOST ALL FACTS WILL SURFACE…UNTIL THEN ALL SPECULATIONS ARE WITHOUT MERIT…………….

     
  7. Tornado

    The Browns are MOVING to L.A. with the colors Orange and Brown and their history.
    Go Los Angeles Browns!

     
  8. Dave

    James H Will come out on top! We are talking 5 years before any real action in court happens. By that time all the little people under him will take a fall.

     

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