Jimmy Haslam, the new Cleveland Browns owner, has started the process of selling his share of the Pittsburgh Steelers.
Mary Kay Cabot of the Cleveland Plain Dealer reports Friday via Twitter that Haslam, a Tennessee businessman and CEO of Pilot Travel Centers, has already begun selling his minority stake that he bought back in 2008.
In a Thursday interview, Haslam announced that the process of divesting his Steelers\’ shares “has already begun.\’\’
This process is the next legal step in him taking control of the Browns franchise. Business Week reports that Haslam will at first have a 70 percent stake in the team, assuming that 24 of the 32 NFL owners approve of the sale of the team to him. Haslam will obtain the other 30 percent from former Browns owner Randy Lerner four years after the closing date of the deal.
On Friday, Steelers president Art Rooney II released a statement concerning losing Haslam from the Ownership group. Below is the statement.
Jimmy Haslam and his family have been great partners in the Steelers Ownership for the past three years. I am sorry that he will be leaving our Ownership group, but I am happy the National Football League is going to have a strong new Owner. I am sure the Haslam Family will bring constructive and able ownership to the Cleveland Browns.