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Haslam could simultaneously have ownership interest in Browns, Steelers

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When the owners convene in Chicago on Monday, the top item on the agenda will relate to the proposed purchase of the Browns by Jimmy Haslam.

But Haslam already has, as we’ve previously been told, a double-digit piece of the Steelers.  And while it’s believed that a large amount of that equity will be sold at or about the time the purchase of the Browns officially closes, a source with knowledge of the situation tells PFT that Haslam possibly will continue to hold a small slice of the Steelers while actively running the Browns.

If it happens, it won’t last for long, and it won’t be evidence of any dual agenda by Haslam.  Instead, it’s a reality of major business transactions that consume lots of time and even more trees to get fully resolved.  Given the speed with which Haslam’s purchase of the Browns transpired, it’s not surprising that Haslam has yet to dot all i’s and cross all t’s when it comes to unloading his piece of the Steelers.

The league has no reason to erect unreasonably barriers to such practical realities of ownership transactions, especially when a minority owner of one team decides to become a majority owner of another.  Though the fans may feel differently, it’s an unavoidable aspect of what Haslam is hoping to ultimate accomplish — owning the Browns and ending his partial ownership of the Steelers.

UPDATE 11:28 a.m. ET:  Per Tony Grossi of ESPNCleveland.com, Haslam owned 12.5 percent of the Steelers.  That’s a significant chunk, given that chairman Dan Rooney and president Art Rooney, II own 15 percent each.  It also means that, unless someone plans to buy all 12.5 percent from Haslam, it will require multiple transactions and a greater chance that Haslam will have ownership interest in both teams, at least for a little while.

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10 Responses to “Haslam could simultaneously have ownership interest in Browns, Steelers”
  1. dixon29 says: Oct 14, 2012 11:16 AM

    Great. Now we have to listen to Steeler fans say “Well the Steelers actually own the Browns now”… that joke never gets old. (Sarcasm).

  2. beavertonsteve says: Oct 14, 2012 11:29 AM

    I’d be more concerned if they show him in the owners box during games sporting a Hines Ward jersey.

  3. brownsclown says: Oct 14, 2012 11:39 AM

    Did you get this information from Tony via Twitter?

    Because as all Browns fans know, if the information comes from Tony ‘the tweet’ Grossi it must be true!

  4. jmp527 says: Oct 14, 2012 11:40 AM

    Well Dixon29, win a couple games against the Steelers and they won’t be able to make the joke. I still find it funny just like the joke that for tornado warnings in Cleveland all residents head to the stadium because they never touchdown inside that dump

  5. jaxhotspur11 says: Oct 14, 2012 11:44 AM

    Why is it that the rules don’t apply when the Steelers and the Rooneys are involved?

  6. stairwayto7 says: Oct 14, 2012 11:53 AM

    He can have the best of times (Steelers) and the worse of times (Browns)

  7. ampats says: Oct 14, 2012 12:05 PM

    As a fan of a non AFCN team, I believe that Bill Cowher will be the next Browns HC/GM with total control over personnel. Haslam has the Steeler DNA and this would be the perfect scenario for Cowher to return.

  8. baloneyjohn says: Oct 14, 2012 12:10 PM

    I would assume he is a silent owner with the Steelers. No biggie, anyways

  9. bigzant82 says: Oct 14, 2012 1:18 PM

    :(

  10. Deb says: Oct 14, 2012 1:53 PM

    Maybe the Steelers could sell that 12.5 percent to the fans a la the Packers. I wouldn’t mind owning a tiny piece of my Steelers :D

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