Cleveland Browns‘ owner Jimmy Haslam insists his team is not for sale, even though there’s mounting evidence to support the contrary. Haslam’s company Pilot Flying J is currently under federal investigation for alleged fraud and also reportedly in debt to the tune of $4 billion. Obviously, these things have caused people to raise questions to Haslam on whether or not he’ll remain as the team’s owner. So far, Haslam is sticking to his story that he has no intentions of selling the Browns.
More fuel was added to the speculation fire when Haslam recently announced he is selling his minor league baseball team, the Tennessee Smokies. So to summarize – Haslam’s company looks to be in serious trouble, and he’s already selling one of the teams he owns.
It’s a shame that all of these allegations are happening so short into Haslam’s tenure with the Browns. He purchased the team just last year, and then went through and completely replaced the front office and coaching staff. The changes seem to be working so far, as the Browns finally have some momentum going into the 2013 season.
I believe Haslam when he says he has no intentions of selling the team, because I doubt he wants to. Ultimately though, he will be subject to any findings in the investigation. You don’t have to be a financial analyst to see that if a person goes bankrupt, they’d have a real hard time owning a professional sports team.
It’s way too early to tell how all of this will play out, but given what we know so far, I’d say the chances of the Browns being sold have gone up substantially.
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