Tag: Jimmy Haslam

Browns owner dips his hand into day-to-day operation of another franchise

Jimmy Haslam is trying his hand at a different sport

Cleveland Browns owner Jimmy Haslam is trying his hand in the day-to-day operation of a new sports franchise: the Milwaukee Bucks.

Haslam has been the owner of the Browns since 2012, and since then has been known for being too involved in the day-to-day operations in Berea, not allowing those he hires to do his job. While that has seemingly gotten better over the last half-decade, there were some murmurings that he was once again involved in the decision to keep Deshaun Watson on the field despite a league’s worst output.

He has now taken his talents and influence to the NBA as well.

Talking to reporters about whether or not he is on the hot seat in Milwaukee after an ice-cold start to the season despite a talented roster, Bucks’ head coach Doc Rivers may have let a little more information than necessary slip. Rivers revealed that he is in conversation with part-owner Jimmy Haslam “every day.”

Haslam became a part owner of the Bucks in April of 2023, and since then the head coaching decisions have been turbulent at best. The Bucks fired one of the best head coaches in the NBA in Mike Budenholzer, then hired Adrian Griffin before firing him just six months later despite a 30-13 start to their season. Griffin was then replaced by Rivers.

Get used to it Bucks fans, it grows old fast.

Jimmy Haslam says Browns wants to get an extension done with Paul DePodesta

No deal yet, but the team wants to get one done

Early in June, the Cleveland Browns extended Kevin Stefanski and Andrew Berry, locking up two of the organization’s most important pieces. Owners Jimmy and Dee Haslam were asked on Saturday about the other part of the brain test Paul DePodesta and if they had extended him as well.

“Paul has not. We’re working through the situation with Paul. It’s a little bit different because he lives in San Diego, but we’re comfortable Paul will remain with us in some very important fashion for the long term.”

Cleveland’s culture shift with this brain trust in charge has been significant as they look to build a consistent winner year after year. Not a ton is known about DePodesta’s role with the team, but if he is trusted, then I am all for him being here as long as the other two.

The Browns will have their first padded practice of the year on Monday as the preseason gets closer.

Browns owners Jimmy and Dee Haslam release statements on the extensions of Andrew Berry, Kevin Stefanski

Ownership has heaped praise onto the duo.

Following the contract extensions of head coach Kevin Stefanski and general manager Andrew Berry by the Cleveland Browns, owners Jimmy and Dee Haslam put out a statement.

Praising the job this regime has done in the four seasons since they took the reins in Cleveland, the ownership group had this to say:

“We are incredibly fortunate to have Kevin Stefanski and Andrew Berry leading the Cleveland Browns… Since the day they were hired, each has worked tirelessly to help the Cleveland Browns win. We are proud of what they and the team have achieved, but Kevin and Andrew would be the first to say that Browns fans deserve even more. Their leadership, collaborative approach, and ability to overcome obstacles bode well for the future of this franchise… Last season was a prime example… Despite facing multiple player injuries and using five different starting quarterbacks, Andrew and his staff built a roster that adapted well, while Kevin and his staff led the team to its second playoff appearance in four years, earning Coach of the Year honors for the second time in that period. They are two of the brightest people we know, and selfless people who only care about what is best for the Cleveland Browns. We are thrilled that Kevin and Andrew will remain with the team for the future.”

The Browns are 37-30 with two 11-win seasons and playoff berths under the duo of Stefanski and Berry in their four seasons. The Browns finally have continuity.

Browns owner Jimmy Haslam confirms building dome in Brook Park is on the table

Both options are firmly on the table.

The Cleveland Browns and their owner Jimmy Haslam are candid about the football team’s future home.

No, the Browns are not leaving Cleveland again. Well, I guess they technically could, but they are not leaving the Cleveland area. Speaking to the media at the NFL owners’ meetings today, Haslam confirmed what we already knew based on the purchase of 176 acres in a Cleveland suburb:

Building a dome is firmly on the table for the Browns.

But that is not the only stadium renovation pathway on the table for the Haslams and their team. The Browns have also pitched a $1 billion renovation idea to the city as well. However, if the city of Cleveland is unwilling to assist in the project, where the Browns are currently requesting a 50/50 split in costs, then that’s when Haslam is most likely taking his talents to the suburbs.

If the Browns were to renovate the current stadium, it would remain an open-air facility.

Brook Park is about 15 miles from the downtown location of Cleveland Browns Stadium right now, and the plot of land is right next door to the Cleveland Hopkins airport.

Will the Browns stay downtown and renovate or will they build a dome in the suburbs?

Browns want Cleveland to pay for half of stadium renovations totaling $1 billion

Would residents be OK with the city picking up half the tab?

Another event in the stadium saga has taken place as the Cleveland Browns have suggested a renovation plan costing between $1 billion and $1.2 billion. The real kicker, of course, is that the Browns want the city of Cleveland to foot about half of the bill.

This comes after the team bought land in Brook Park, leading fans to believe that the Browns could be moving to that location after the current stadium lease ends. This seems like it could be the team positioning themselves to say they are moving the stadium to Brook Park if the city doesn’t help with renovation costs to keep them on the lake.

This storyline will continue for a while — the stadium lease isn’t due to end until after the 2028 season.

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Browns release statement regarding future stadium planning

Could the Browns move out of Cleveland?

The lease between the City of Cleveland and the Cleveland Browns regarding the team’s current stadium runs through the end of 2028, so no future stadium plans are imminent right now.

However, rumors were flying early in the week after the Haslam Sports Group bought a ton of land in Brook Park which could be for the site of a future stadium.

This left a lot of plans frustrated that the team could move outside of the City of Cleveland if the future new stadium ends up being built in Brookpark. With all of these rumors going around the Browns decided to release a statement about future stadium plans.

“We’ve been clear on how complex future stadium planning can be. One certainty is our commitment to greatly improving our fan experience while also creating a transformative and lasting impact to benefit all of Northeast Ohio. We understand the magnitude of opportunity with a stadium project intent on driving more large-scale events to our region and are methodically looking at every possibility. We appreciate the collaborative process with the City of Cleveland and the leadership of Mayor Bibb in analyzing the landbridge and renovating the current stadium. At the same time, as part of our comprehensive planning efforts, we are also studying other potential stadium options in Northeast Ohio at various additional sites. There is still plenty of work to do and diligence to process before a long term stadium solution is determined and will share further updates at the appropriate time.”

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Feds investigate Browns owner Jimmy Haslam after Berkshire Hathaway accused him of bribery

Federal prosecutors from the Southern District of New York investigate Jimmy Haslam over Berkshire Hathaway’s bribery accusations.

Jimmy Haslam, the owner of the Cleveland Browns, is under investigation by Federal prosecutors from the Southern District of New York for an alleged bribery scheme, as reported by Bloomberg. The prosecutors are reviewing claims by Warren Buffett’s Berkshire Hathaway that Jimmy Haslam offered bribes to a dozen executives at Pilot Travel Centers to inflate profits affecting a sale to Berkshire Hathaway.

This investigation is part of a legal battle between the Haslams family, including Jimmy’s brother Bill Haslam, the former Governor of Tennessee, and Berkshire Hathaway over the Haslams’ remaining 20 percent stake in Pilot Travel Center. In 2017, Berkshire Hathaway agreed to a deal with the Haslams to buy 80 percent of the company by 2023, and the Haslams would have an option to sell the remaining 20 percent of the company. It’s reported that the 20% share is worth close to $3 billion.

In late October, Pilot Corp. sued Berkshire Hathaway charging Berkshire Hathaway of changing their accounting rules to suppress the family’s stake. Berkshire Hathaway countersued Pilot a month later for the alleged Haslam bribery scheme. 

On December 13th, the Haslams received some good news when a Deleware judge ruled that Berkshire Hathaway could not use the bribery allegations to defend itself in the Pilot Corp. lawsuit.

The Haslams and Pilot J were investigated by the FBI over a decade ago for a rebate scam which resulted in them paying a $92 million fine.

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Warren Buffett’s Berkshire Hathaway accuses Jimmy Haslam of offering bribes to Pilot executives

Warren Buffett’s Berkshire Hathaway accused Cleveland Browns owner Jimmy Haslam of bribing multiple Pilot Flying J executives to improve company profits.

Berkshire Hathaway has accused the Haslam family, including Jimmy and his brother – who’s the former Governor of Tennessee, Bill Haslam – of offering bribes to multiple Pilot Flying J executives to inflate company profits to force Berkshire Hathaway to pay a higher price for the Haslam family’s remaining 20% of ownership in the company. This report is from Reuters.com.

The Haslam family and Berkshire Hathaway have been fighting for the past few months over the Haslam family’s remaining 20% stake in Pilot. In late October, the Haslam family sued Berkshire Hathaway, accusing Hathaway of changing their accounting rules to devalue the family’s 20% stake.

In 2017, Berkshire Hathaway and the Haslam family agreed to an arrangement where Hathaway would buy 80% of the company by 2023 and allow the Haslams an option to sell the remaining 20% share to Hathaway at the end of 2023. It’s reported that the 20% share is worth nearly $3 billion.

Berkshire Hathaway’s countersue alleges Jimmy Haslam of offering bribes to 15 Pilot executives to inflate company profits, promising the executives excessive end-year bonuses.

The Haslams have been struck by allegations of financial irregularities before. Soon after Jimmy Haslam bought the Cleveland Browns, Pilot Flying J was investigated over a rebate scam that resulted in a $92 million fine.

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NFL News: Jimmy Haslam will sit on new ownership rules committee

Browns owner Jimmy Haslam appointed to the committee to oversee NFL ownership rules in response of underwhelming Commanders bid.

Last week, the NFL announced a new committee to review the NFL’s ownership policy, according to Sports Business Journal. The committee is composed of five owners: Jimmy Haslam of the Cleveland Browns, Patriots owner Robert Kraft, Falcons owner Arthur Blank, Broncos owner Greg Penner, and the Committee chairman, Clark Hunt of the Chiefs. The committee will suggest changes to the NFL ownership rules ahead of the NFL owners’ meeting in the offseason.

The committee was formed in response to the recent sale of the Washington Commanders to Josh Harris. It’s rumored that the owners were unhappy with the number of bidders for the team. Owners were also reportedly displeased by Josh Harris’s complex bid structure. On the other hand, bidders found the NFL ownership rules extremely constraining.

Currently, NFL teams can only be owned by individuals, and the new committee’s job is to examine whether they need to broaden this policy to include financial entities. The group is reportedly interested in examining nonprofit foundations and Grantor Retained Annuity Trusts, which would keep ownership between natural persons. The group is expected to recommend changes to the debt limit that an ownership group can take on to buy a team.

The committee could also recommend radical changes to allow private equity funds, including investment groups, sovereign wealth funds, and public companies, to buy teams. Across the pond, soccer teams are now mega investments for countries like Qatar and Saudi Arabia and American-based groups like 777 Partners and RedBird Capital. It seems doubtful that the owners would allow such arrangements to befall the “real” football, but one can never know. While the owners use the business as vanity projects, the teams are still businesses.

The last time the NFL owners changed ownership policy was in 2018, which allowed NFL owners to own and operate teams in other sports. Many league owners took advantage of the policy change, including Jimmy Haslam, who helped save the Columbus Crew from relocation in 2018. Haslam recently bought a 50% stake in the Milwaukee Bucks. Jimmy Haslam has become quite the expert on sports franchises over the past decade. Haslam seems dedicated to Ohio and smaller market teams in general. The committee will gain valuable insight from him as I hope he looks out for small-market teams.

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Jimmy and Dee Haslam approved as Milwaukee Bucks co-owners

Haslams officially owners in the NBA as well.

The previously reported purchase of 25 percent ownership of the Milwaukee Bucks by Jimmy and Dee Haslam, the owners of the Cleveland Browns, has officially gone through. The Haslams will pay $800 million for the stake in the NBA franchise.

The different ownership groups plan to rotate who governs the team. The Bucks are the Eastern Conference’s top seed entering the NBA playoffs and are two years removed from a league championship, so it’s a good time to get in on an ownership stake with everything running right with the franchise. The Haslams continue to grow their ownership of sports teams, and Bucks fans hope their impact isn’t similar to when they took over the Browns in 2012.

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