Last May, NFL Hall of Famer Charles Woodson announced the purchase of a 0.1% stake in the Cleveland Browns. The deal appears to be in trouble.
The former defensive back told Front Office Sports that he chose to give up his minority stake in the Browns in order to associate his name with his spirits company’s brand. From FOS:
“I thought I would be a proud owner of the Browns, but that didn’t happen because I couldn’t take my name off my product,” Woodson said. “That’s the nature of the product. That’s how I started, so I can’t do that.”
Enough progress was made on the deal that the Browns announced in May that Woodson had been cleared by the league while speaking glowingly about the insight he would provide from the ownership table. The team was valued at $6.4 billion last summer, and we’re talking about a stake worth about $6 million.
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However, the FOS noted that league rules prohibited the owners from advertising alcohol, which conflicted with Woodson’s “Charles Woodson Interceptor Wine” and “Woodson Whiskey” labels. Interestingly, this brand of wine has been used at Las Vegas Raiders games in the past.
Woodson ultimately chose to retain the brands rather than join the Browns, who released a brief statement to FOS:
“We respect Charles’ decision and wish him the best.”
Woodson has never played for the Browns in his career, but he is an Ohio native who reportedly hit it off with Browns owner Jimmy Haslam in 2024. Without an NFL team to help manage, Woodson will continue his post-retirement life as an NFL broadcaster and aspiring liquor magnate.
