The Randy Lerner thread

[CrackpotForeigner]

While the club has a manager that the fans want, and he's putting money into the club rather than taking it out, it would be a bit rude not to "like" RL.

[Daweii]

I think some need to re-examine their ill feelings towards Lerner especially in light of him essentially choosing Villa. He was in a situation of selling assets and he chose to sell the club he inherited from his dad a club with sentimental ties over us. To me that shows just how much he cares about this club and how much he loves this club, he's not a bad guy he's just learning the ropes of running a football club he's bound to make mistakes so let him.

[leviramsey]

Sale could be approved by early September

Randy Lerner's sale of the Browns to Tennessee businessman Jimmy Haslam III could be approved by the start of the regular season in September, league sources told The Plain Dealer today.

In addition, former Eagles president Joe Banner is part of the Haslam group and will come to Cleveland as part-owner and possibly president of the team, the source said. Banner, reached by the Plain Dealer, declined to comment on his involvement.

The fact that the Browns sale was on a "fast track'' was first reported by profootballtalk.com this morning.

The deal is close enough that a committee of owners could meet to approve it sometime in August or early September, the source said. Browns President Mike Holmgren said the next full owners' meeting is in October, and no special session has been called yet.

The sale of the Browns could happen almost as quickly as that of the recent transfer of the Jaguars from Wayne Weaver to Shahid Khan. From the time news of the sale broke to its approval was a matter of weeks. Plus, the NFL won't have to go through the lengthy process of vetting Haslam, because that was done in 2009 when he purchased a minority share of the Steelers. Haslam purchased an estimated 10-16 percent stake -- enough to have a seat on the board, and passed the rigorous league approval process.

Forbes also reported today that Haslam is purchasing the Browns for $920 million, which is slightly less than the $977 million that Forbes valued the team at last month. That figure ranks 20th out of the 32 NFL teams.

What will happen to Holmgren if Banner wants to take over? Holmgren, in the third year of his five-year deal, might have the same clause in his contract that Bill Parcells did when he was with the Dolphins: that he would receive the balance of his contract in the event the team is sold.

That means Holmgren, who said Friday "we'll see'' when asked about his future, could stand to make the estimated $8 million a year he's due if even if he's gone. Holmgren was in close contact with Parcells when deciding whether or not to take the Browns job, and likely secured a similar deal.

The PFT article linked is very interesting

Although prospective Browns owner Jimmy Haslam hasn’t said anything in the 24 hours or so since word emerged of his effort to swap out a minority share in the Steelers for controlling interest in the Browns, he could be taking center stage in Cleveland, soon.

A source with knowledge of the situation tells PFT that the sale from Randy Lerner to Jimmy Haslam is on the “fast track,” and that the deal could be approved in August.

(By “approved,” that likely means by a committee of owners, and not the full body. A league source tells PFT that the next full meeting of owners is set for October.)

It’s not a surprise; the recent sale of the Jaguars from Wayne Weaver to Shahid Khan received similar grease-through-goose treatment, with the sale official not long after word emerged that a transaction was happening.

The Browns sale was brokered, we’re told, at the league-office level.

That's very interesting, and points, IMO, to the divorce being a factor. The NFL does not want a McCourt situation (tl;dr summary: owner of the LA Dodgers divorces (his wife was the team CEO), with the team being the primary asset... in the midst of a drawn-out fight over who got the team, the Dodgers filed for bankruptcy and were taken over by the league until a new ownership group was found) and may well have basically told Randy to sell up before the divorce is finalized.

The fact that Haslam already owns a double-digit piece of the Steelers made the process a lot more smooth than if he had no prior NFL ties. Indeed, if the owners already have approved Haslam to own a significant piece of the Steelers, why wouldn’t they approve him to own all or most of the Browns?

Officially, it’s unknown whether Lerner will return a minority share in the team, and whether other minority interests will be sold. Under league rules, one person can control a team by owning as little as 30 percent of all equity.

But with Forbes.com recently pegging the value of the Browns at $977 million and with Haslam, according to Forbes.com, plunking down $920 million for the team, it appears that he plans to buy it all.

He could thereafter sell off slices to serious investors and the likes of Drew Carey, Trace Adkins (I had to mention him because he’s in the picture with Haslam) and Michael Stanley, as other owners have done. (And, yes, I now know who Michael Stanley is.)

There’s speculation in league circles that, apart from Lerner’s apparent lack of interest in being an NFL owner, he decided to liquidate the Browns because he needed the cash to finance the operations of his English soccer club, Aston Villa.

That’s an example of what they call “rich people problems,” problems that anyone who isn’t rich would love to have.

Within the next month or so, Lerner’s biggest problem will be figuring out where to park $920 million.

That’s a shame.

Possibility of the sale closing before the window?

[HolteEndRob]

I wouldn't get too carried away by this. Even if he does sell the Browns, it doesn't mean that he'll be throwing a crazy amount of cash into the transfer kitty. He can't anyway due to this new financial fair play ruling that's coming in.

[troon_villan]

Id say randys spending under MON was pretty erratic/uncontrolled

He literally set fire to tens of millions

Curtis Davies, Steve Sidwell, Shorey, Harewood, Knight, Warnock etc etc etc

Do the math

He LITERALLY set fire to tens of millions? Wow what a crazy guy!

I literally pissed myself when I read this!

[TrinityRoadSteps]

Randy is arriving in Birmingham around midday today. Well at least his Jet is

[smetrov]

I wouldn't get too carried away by this. Even if he does sell the Browns, it doesn't mean that he'll be throwing a crazy amount of cash into the transfer kitty. He can't anyway due to this new financial fair play ruling that's coming in.

We are not in europe - so the fair play rules don't apply. - and they are easily bypassed anyway - man city for example.

Personally I think he is selling the browns as he has found a buyer. If he were to receive a serious offer for a villa - I feel sure he would sell. His balancing of books at VP - To me suggests he will sell villa within the next few years.

[PieFacE]

Randy is arriving in Birmingham around midday today. Well at least his Jet is

OT but have you changed your name or are you using the same avatar as someone else? Villansea or whatever he was called...

[TrinityRoadSteps]

Nope I have always been this name. We just seem to have chosen the same avatar

[Don_Simon]

I don't think the sale of the Browns has to mean were going to spunk $920,000,000 on Messi for it to benefit Villa.

Perhaps it will just increase our wage allowance slightly?

Perhaps our transfer war chest will increase by ten million per window?

Perhaps a some money will be used to redevelop the hideous North Stand?

And perhaps this will mean we can have a nice sponsor link with Acorns again? I really dislike Randy going against his moral fibre with Genting Casinos just to get money through the tills.

The point I'm trying to make in a roundabout way I suppose is that our owner having more money cannot help but benefit us. Be it hugely or slightly.

Ps: I will quite literally WANK MYSELF INTO OBLIVION if we buy Lionel Messi.

[PieFacE]

I wouldn't really expect that much to be different. Other than Randy to be more focused and present at Villa Park. We can't increase the wage bill because it has to meet with our turnover. We have to be run self-sufficiently, that's basic business.

What I could see happening is Randy allowing a bit more cash for transfers, as long as the wage bill is kept in line.

[islingtonclaret]

I expect a lot to be different. Sure, I really don't expect him to chuck endless money at us - he's learnt his lesson with that and got his fingers burnt. But his attention will be solely on us, which will tighten up the running and expansion of the business side IMO.

[TRO]

I agree entirely with the previous 2 posts.

Our business model is geared to what PL is doing right now and the general transfer fee's is where we are at.

There is no more guarantee that doubling our current general transfer fee would gain any more success.

What could happen is that with more money there is more chance that some of these signings will come off, after all said and done you can't get a gem everytime.

albeit, Newcastle in recent times seem to be making a pretty good fist of it and when we had Barton & Mclaren we did too.

PS It does make you wonder whether a brillinat scout is worth as much to a club as a Russinan oligarch.

[juanpabloangel18]

I would love it if some of the proceeds went towards North Stand redevelopment. Remember these?

[CrackpotForeigner]

I really think this will happen now.

If the club is going to grow its revenue in the long term it will need to improve stadium capacity. As others have said when the subject came up, it's a bit "build it and they will come" with stadiums. People will likely feel more inclined to go to games if they feel the club is on the up, and enlarging the stadium would send a powerful message. Also the atmosphere would improve and hence the matchday experience.

A side effect would be that the club could attract better players as a result, and really the whole thing could potentially snowball in the right circumstances.

As RL will have found out, spending money on flashy signings is a quick fix and doesn't always work. I would be amazed if he hasn't figured that redeveloping the stadium has a lot more potential.

[mjmooney]

I really think this will happen now.

If the club is going to grow its revenue in the long term it will need to improve stadium capacity. As others have said when the subject came up, it's a bit "build it and they will come" with stadiums. People will likely feel more inclined to go to games if they feel the club is on the up, and enlarging the stadium would send a powerful message. Also the atmosphere would improve and hence the matchday experience.

A side effect would be that the club could attract better players as a result, and really the whole thing could potentially snowball in the right circumstances.

Chicken or egg?

I can't believe that developing the stadium before the team and results improve would attract bigger crowds and better players, it's the other way round.

1) Better players

2) Better results

3) Bigger crowds

4) Improve stadium

5) Go to (1)

[AVFCforever1991]

Expanding the stadium at this point would be a waste, use the money to rebuild the squad first.

[HolteEndRob]

We can't fill 42,000. Redeveloping the North Stand would definitely make our great stadium look even better but that's about it. We wouldn't suddenly attract thousands more fans through the gates every home game just because we have a new stand.

[Troglodyte]

Might be sensible to redevelop before we begin to sell out regularly, though? Would be a financial gamble in that respect, but so are many signings.

However, as much as I'd like to see a new North Stand, I'm not sure it'll happen.

[jacketspuds]

Improving the stadium will make us a more attractive proposition should RL ever decide to sell up. However, the priority for now should be squad improvement under Lambert.