Pro Football Hall of Famer Charles Woodson plans to purchase a 0.1% stake in the Cleveland Browns, according to multiple reports.
The news was first reported by The Athletic.
The sale agreement is contingent on Woodson, who works as an analyst for Fox Sports, agreeing to broadcast restrictions and removing his name, image and likeness from his wine and whiskey businesses.
Las Vegas Raiders minority owner Tom Brady, who also works for Fox Sports, had to agree to similar broadcast restrictions before buying into the Las Vegas franchise. Meanwhile, Woodson would have to remove his name from his wine and whiskey businesses because it would violate the NFL’s policy on alcohol.
Last year, Forbes valued the Browns at $5.1 billion. A 0.1% stake would equal $5.1 million.
Woodson, who played 18 seasons for the Raiders and Packers, retired from the NFL after the 2015 season and was inducted into the Pro Football Hall of Fame in 2021.
Woodson, 48, is from Fremont, Ohio, and was named the state’s “Mr. Football” in 1994 before starring at the University of Michigan and winning the Heisman Trophy in 1997. In the NFL, he was a nine-time Pro Bowl selection and won Defensive Rookie of the Year (1998) and Defensive Player of the Year (2009) honors. Before he retired, he became the first player in the NFL to have at least 50 interceptions and 20 sacks.
The Browns have been owned by Jimmy and Dee Haslam since 2012.
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