Cleveland Browns Sale: Forbes Reports Browns Being Sold For $920 Million

Cleveland Browns owner Randy Lerner is in the process of closing a $920 million deal to sell the Browns to Knoxville, TN businessman James Haslam, according to a report from Forbes. While that sounds excessive and will certainly net the Lerner family a tidy profit on their initial investment, Haslam may be getting a deal in the context of the NFL.

Lerner had been looking for between $1 billion and $1.1 billion for the team his father purchased for $530 million in 1998. Haslam is currently a minority owner of the NFL's Pittsburgh Steelers and is president and CEO of Knoxville, Tenn.-based Pilot Flying J, an $18 billion in sales chain of truck stops.

Last August we valued the Browns at $977 million, 2oth out of the league's 32 teams. The Browns posted an operating loss (earnings before interest, taxes, depreciation and amortization) of $2.9 million during the 2010 season. The only other NFL teams to have an operating loss that year were the Detroit Lions. The Browns have lost 67% of their games during their 13 seasons. The only team to do worse over that span? The Lions.

As mentioned above, Haslam owns a piece of the Pittsburgh Steelers and still considers himself "1000% Pittsburgh Steelers fan." If he closes this deal with Lerner, Haslam won't be wearing any black and yellow after shelling out so much green for the Browns.

For more information on the Cleveland Browns, head over to Dawgs By Nature. More news and analysis on the NFL as training camps begin can be found over at SB Nation's dedicated NFL hub.

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