New bidders emerge for Browns
Policy, Kosar, Lerner join race for Cleveland franchise
Posted: Thursday July 23, 1998 12:41 AM
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Cleveland fan favorite Bernie Kosar will announce his bid to buy the Browns franchise Thursday Andy Lyons/Allsport |
CLEVELAND (AP) -- A powerful alliance emerged Wednesday between
billionaire banker Al Lerner, former San Francisco 49ers
president Carmen Policy and Cleveland fan favorite Bernie Kosar in the
bidding war for the expansion Browns.
The trio will hold a news conference Thursday to announce their bid to buy
the Browns franchise, television stations WKYC and WJW reported.
The replacement Browns team will begin play next year in a new stadium.
Owner Art Modell moved the old Browns in 1995 to Baltimore, where they are
known as the Ravens. Policy told The Plain Dealer in a
phone call from his Cleveland-bound flight that he would be a part owner,
president and chief executive officer if Lerner and he succeed in buying
the team. "If the Lerner-Policy partnership can become owners
of the Cleveland Browns, that will be a dream come true for this kid from
the streets," said Policy, who grew up in Youngstown.
Policy resigned Wednesday after eight years as president of the 49ers.
Policy would not be specific about his plans, except to say he'd like to
stay in the NFL, "preferably with a team."
"There are some excellent opportunities that are available to me
individually, to me as part of a group, that are very exciting," he said.
"I see these opportunities as being golden, but I see these opportunities
as fleeting."
Policy met with Lerner Tuesday night in Youngstown, WEWS-TV in Cleveland
reported.
Lerner and Kosar could not be reached for comment. Calls to Lerner's
office in Wilmington, Delaware, went unanswered after regular business
hours. A message was left for Kosar at his Miami-area office.
NFL owners are expected to select a buyer for the team by September with
estimates of the price mostly ranging between $300 million and $350
million.
At least five other groups are bidding for the Browns: Developer
Bart Wolstein, who has the backing of Hall of Famer Jim Brown
Cablevision Chairman Charles Dolan and his brother, Larry Dolan, who
are backed by comedian Bill Cosby and former Miami Dolphins coach Don
Shula New York developer Howard Milstein, who is working with
former NFL stars Paul Warfield and Calvin Hill Toy manufacturing
mogul Tom Murdough And Cleveland Indians owner Dick Jacobs.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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