Lerner leaves estate worth $3.7 billion

CLEVELAND (AP) - Al Lerner, the Cleveland Browns owner who died last October, left an estate worth $3.7 billion, according to probate court records.
Lerner, whose family still owns the Browns, was chairman and chief executive of credit card giant MBNA Corp.
Last week, lawyers for the estate filed documents with Cuyahoga County Probate Court setting the estate's taxable value at $3.7 billion, including his majority interest in the Browns valued at $675 million.
Probate Court officials said the estate was the largest filed in Cuyahoga County. When he died Oct. 23 at age 69, Lerner was the wealthiest person in Ohio.
Lerner lived in suburban Shaker Heights, which stands to get $10 million in taxes from the estate. The city's annual operating budget is about $33 million.
The Shaker Heights mayor and members of City Council said the city would use the windfall to try to attract business and residential development.
(Copyright 2003 by The Associated Press. All Rights Reserved.)