CLEVELAND, Ohio — Hall of Famer Charles Woodson, the former Mr. Football in Ohio in 1994, is purchasing a 0.1% stake in the Cleveland Browns, the team that’s only 90 miles east of his hometown of Fremont, Ohio, a league source confirmed for Cleveland.com.
Dianna Russini of The Athletic first reported the news.
The sale, by Jimmy and Dee Haslam, is contingent upon Woodson agreeing broadcasting restrictions similar to what Raiders minority stakeholders Tom Brady has with the Raiders. Woodson must also remove his name, image and likeness from the businesses he’s involved in, according to Russini. Woodson, 48, is currently a Fox analyst for the NFL and college football.
Woodson’s stake in the $5 billion franchise will be about $5 million. Brady owns 5% of the Raiders.
A number of former NFL players have expressed interest to the league in becoming minority stakeholders in teams, and Jimmy Haslam hit it off with Woodson last year. The sale is expected to be finalized soon.
Woodson brings an impressive football resume to the ownership group. He’s a former Heisman Trophy winner from Michigan, Super Bowl XLV champion, 2009 NFL Defensive Player of the Year, a four-time first-team All-Pro, and nine-time Pro Bowler.
He also holds the NFL record for most consecutive seasons with an interception (6) from 2006-2011.
Woodson spent 18 seasons in the NFL (1998-2015) playing for the Raiders twice and the Packers suiting up for the Raiders (two separate stints) and the Green Bay Packers.
It remains to be seen if Woodson will play an active role with the team like Brady does.
He joins the team at a time when the Browns are in the process of finalizing financing and plans for their $2.4 billion covered stadium in Brook Park, Ohio, and the $1 billion mixed-used development surrounding the new stadium.
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