Not long after it was announced that Tennessee businessman and Pilot Travel Centers CEO Jimmy Haslam would buy the Cleveland Browns, Mary Kay Cabot reports that he has already begun selling his minority stake in the Pittsburgh Steelers.
In yesterday's interview, Haslam said the process of divesting his Steelers' shares "has already begun.''— Mary Kay Cabot (@MaryKayCabot) August 3, 2012
The process is the next legal step in taking control of the Browns franchise. He will at first have a 70 percent stake in the team, according to Business Week, assuming that 24 of the 32 NFL owners approve of the sale. He will obtain the other 30 percent from former Browns owner Randy Lerner four years after the closing date of the deal.
Haslam has been a minority owner of the Steelers since 2008. It's a little strange to see him head to another AFC North team.
Via Steelers Depot.
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