Mike Holmgren will stay with the Cleveland Browns until the end of the season, but will cede control as CEO and team president to Joe Banner. The initial report from Ed Warder indicated that Holmgren would be fired immediately, but a league source later confirmed that Holmgren is expected to remain with the Browns until the end of the season.

New Browns owner Jimmy Haslam will still name Joe Banner as the team's new CEO and president effective immediately, but Holmgren will be allowed to stay with the organization for the remainder of the year. Banner, 59, was president of the Philadelphia Eagles from 2001 to 2012 and is expected to be introduced on Wednesday.

Holmgren, 64, was hired by Cleveland at the end of the 2009 season as team president. Holmgren fired coach Eric Mangini after the 2010 season and replaced him with Pat Shurmur. The Browns never had a winning record during Holmgren's tenure in Cleveland.