Nationwide Insurance is “buying 37%” of the Crew at a valuation of $900M for the team, according to CNBC’s Mike Ozanian. The company is based in Columbus. Browns owners Dee and Jimmy Haslam are selling 30%, while 7% is being sold by the Edwards family (X, 5/28). After the sale, the Haslams will retain a 40% stake. The valuation “matches the figure attached to the Crew last summer,” when the Haslams sold a 10% stake in the club to the Edwards family. That deal increased the Edwards family’s ownership share to 30% while leaving Haslam Sports Group with a 70% controlling stake. The move also comes just nine days after the Haslams sold a 3% stake in the Browns to private equity firm Arctos (CRAIN’s CLEVELAND BUSINESS, 5/28).
Nationwide Insurance buying stake in Crew
