According to FOX 8 Cleveland, the Cleveland Browns have been sold for approximately $1 billion.
Based on a report by NFL.com, the sale has been approved by the National Football League and its owners. Talks had been going on about the sale of the franchise all summer.
Randy Lerner has owned the team since the death of his father, Al Lerner in 2002, but has now sold the reigns over to James Haslem.
Haslem is best known as the founder of Pilot Corporation and has been a proud donor to the University of Tennessee for many years.