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A new era for Cleveland Browns football on Tuesday.

Jimmy Haslam walked into a round of applause in the meeting room of NFL team owners in Chicago. He was approved unanimously as the new Browns owner by a vote of 32-0.

Haslam is paying $1B for the Browns, but former team owner Randy Lerner will keep a 30% stake in the team for four years.

Haslam says Mike Holmgren decided to step down as the Browns President.  Holmgren is expected to retire at the end of the year.

“Mike is a first-class professional that I’ve enjoyed working with,” Haslam said during an afternoon news conference.

Haslam says he expects this change to be the only change until the end of the year.  However, he is not saying there will be any more personnel changes.

Joe Banner, a former Philadelphia Eagles executive, will take over on October 25.

Article Courtesy of WOIO 19 Action News