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Cleveland Browns owner Jimmy Haslam is under federal investigation over payments prosecutors say he made to executives at Pilot Travel Centers that could have had a billion-dollar impact on the sale of his stake in the company to the Warren Buffett-helmed Berkshire Hathaway, Bloomberg reported on December 13.
Haslam has served as the majority owner of the Browns, alongside his wife, Dee, since October 2012. The 69-year-old businessman also serves as the chairman of the board of the Pilot Flying J truck stop chain and has numerous other executive-level involvements in the sports world.
The Haslams have the option to sell the remaining 20% stake in Pilot to Berkshire Hathaway, which already owns the other 80%, after January 1, 2024, the Associated Press reported.
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Payments that could have artificially increased the value of Haslam’s stake in Pilot Travel Centers are at the heart of this legal issue.