Marc Lasry has reached an agreement to sell his stake in the Bucks to Cleveland Browns owner Jimmy Haslam and his Haslam Sports Group, according to Shams Charania of The Athletic.
Milwaukee’s $3.5 billion evaluation is second only to the $4 billion purchase price that Mat Ishbia paid for the Suns, according to Tim Bontemps of ESPN. He notes that it’s also the third-highest ever for a U.S. sports franchise, also trailing the price paid for the Denver Broncos last year.
Lasry owns about 25% of the Bucks and shares controlling owner responsibilities with Wes Edens. Since buying the franchise in 2014, they have served alternating five-year terms as the primary owner. Lasry has been in that role since 2019. His interest in selling was first reported in December, and he talked to Ishbia about buying the team before he purchased the Suns.
Haslam, 68, had considered buying the Bucks for several months and had several meetings with the parties involved before a deal was reached, according to Charania. Sources tell Charania that Haslam will continue to seek sports-related business opportunities and may consider buying a professional team in another league.
The Bucks became one of the NBA’s best teams under Lasry and Edens, capturing the second championship in franchise history in 2021. The owners also opened the Fiserv Forum in 2018, which led to a thriving business area around it known as the Deer District.
Haslam and his wife Dee are the controlling owners of the Browns and the Columbus Crew of the MLS. He is the chairman of the Pilot Flying J truck stop chain.
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