July 20, 2018

Education: Jimmy and Dee: University of Tennessee

How They Acquired the Franchise: The Haslams purchased the Browns from Randy Lerner for $1.05 billion in 2012. At the time, they received a 70% share of the team, with the remaining 30% coming in ’16.

Net Worth: $3.7 billion (per Forbes in 2018)

Franchise Valuation:per Forbes in 2017)

How They Made Their Money: Jimmy Haslam III is the son of Jim Haslam, Jr., who founded Pilot Corp (the largest diesel fuel retailer in America) in 1958. The elder Haslam initiated his soon-to-be-famous truck stop company by buying one Virginia gas station for $6,000. Jimmy joined the company in ’76 and became vice president in ’80. Warren Buffett and Berkshire Hathaway bought a 38.6% stake of Pilot Corp in October 2017, and by ’23, the Haslams will own only 20% of the company.

Pilot Corp became embroiled in a fraud scandal in early 2013, just six months after Haslam’s purchase of the Browns was approved. “No prosecuting authority has found reason to bring charges against Mr. Haslam … so that’s where we leave it,” an NFL official told CBS’s Jason La Canfora.

In the Owner’s Words: “The fact that this franchise has not done better … the blame lies squarely with me,” Jimmy said after the 2015 season. “Because ultimately it’s the head person who’s responsible for everything.” The team has gone 1-31 in the two seasons since.

Political Donations: Jimmy’s brother Bill, a Republican, is the current governor of Tennessee. Jimmy, his father and his brother teamed up to give $112.5K to the American Crossroads super PAC, a conservative group that spent nearly $85 million campaigning against Barack Obama in 2012. Jim, Jimmy and Dee also gave $100K in total to the Jeb Bush super PAC Right to Rise in ’16. Jim and Jimmy have also given $41K combined to the conservative Volunteer PAC from ’01 to ’06.

NFL Committees: Jimmy: Investment Committee (Chairman); Media Committee, Business Ventures Committee, Hall of Fame Committee; Dee:Legislative Committee, Conduct Committee.

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