How much were the Milwaukee Bucks sold for?
Marc Lasry, co-owner of the Milwaukee Bucks, has sold his shares of the Wisconsin team to Haslam Sports, majority owner of the NFL’s Cleveland Browns.
Marc Lasry, co-owner of the Milwaukee Bucks, has sold his shares in the Wisconsin franchise for $3.5 billion to Jimmy Haslam, president of the NFL’s Cleveland Browns and founder of Haslam Sports Group, a financial conglomerate in the U.S.
This amount represents the second biggest sale in NBA history, after the $4 billion purchase by Mat Ishbia of the Phoenix Suns at the end of December. This is also the third highest figure for the purchase of a US sports franchise after the sale of the Denver Broncos of the NFL last year for $4.65 billion.
Haslam joins Wes Edems
Jimmy Haslam will thus join the financial group of the Bucks along with current co-owner Wes Edens. This union will take place over the coming months, as The Athletic pointed out. Lasry is separating from the Wisconsin team, but reports indicate that he will join another professional sports organization later on. Haslam already owns two sports franchises: the Browns and Major League Soccer’s Columbus Crew.
The Bucks under Lasry
Lasry changed recent history for the Bucks. Under his tenure, the Milwaukee team packed up and moved to a new and modern stadium, the Fiserv Forum, in 2018. Edens and Lasry were responsible for acquiring the majority stake in 2014, when they bought the team from Herb Kohl for $550 million.
In Lasry’s hands, the Bucks went through a big change in the last decade. They have gone from being a mid-table team in the Eastern conference to a perennial title contender, including lifting the championship trophy in 2021 against the Phoenix Suns.