Pro Football Hall of Famer Charles Woodson is planning to acquire a 0.1% stake in the Cleveland Browns, according to multiple reports.
This sales agreement is subject to certain conditions. Woodson, who currently works as an analyst for Fox Sports, must accept broadcast restrictions and remove his name, image, and likeness from his wine and whiskey businesses.
Tom Brady, a minority owner of the Las Vegas Raiders and also an employee of Fox Sports, had to accept similar restrictions before investing in the Las Vegas franchise. Woodson, for his part, would have to remove his name from his wine and whiskey companies due to the NFL’s policy on alcohol.
Last year, Forbes valued the Browns at $5.1 billion. A 0.1% stake would be worth $5.1 million.
Woodson, who played 18 seasons for the Raiders and Packers, retired from the NFL after the 2015 season and was inducted into the Hall of Fame in 2021.
Woodson, 48, is from Fremont, Ohio, and was named the state’s “Mr. Football” in 1994 before starring at the University of Michigan and winning the Heisman Trophy in 1997. In the NFL, he was selected to the Pro Bowl nine times and won Defensive Rookie of the Year (1998) and Defensive Player of the Year (2009) honors. Before his retirement, he became the first player in the NFL to have at least 50 interceptions and 20 sacks.
The Browns have been owned by Jimmy and Dee Haslam since 2012.
