Former NFL defensive back Charles Woodson had a choice to make: invest in the Cleveland Browns or keep his name on his wine and whiskey brands. He chose his name.
According to Front Office Sports’ Ryan Glasspiegel, Woodson was reportedly looking to own 0.1% of the Browns, which would have been worth nearly $4 million based on the Browns’ $4 billion valuation.
As part of the league’s alcohol policy, owners are not allowed to use their names or pictures in any advertising of alcohol. Woodson currently owns “Woodson Whiskey” and “Charles Woodson Intercept Wines.”
“I thought I was going to be a proud owner of the Browns but it wasn’t able to happen because I wasn’t able to take my name off of my product,” Woodson told Glasspiegel. “It’s what made the product. It’s how I started so I wasn’t able to do that.”
Glasspiegel reached out to the Browns, who said they “respected” Woodson’s decision and “wish him well.”
Minority stakes in NFL teams have become common, allowing owners to raise cash and boost their valuations while still maintaining control of the team. Investors benefit because the value of NFL teams has reliably increased each year thanks to new media deals, merchandising and other revenue streams.
Woodson played 18 seasons in the NFL with the then-Oakland Raiders and Green Bay Packers. He finished his career with 65 interceptions, tying him for fifth all-time in NFL history.
A former Associated Press Defensive Player of the Year in 2009, Woodson earned three All-Pro selections and was named to the Pro Bowl nine times before retiring in 2016. He was inducted into the Pro Football Hall of Fame as part of the 2021 class. Woodson is also an NFL analyst for Fox Sports.