Owner will sell his Bucks share to Browns owners

Milwaukee Bucks owner Marc Lasry has reached a deal to sell his portion of the NBA franchise to Cleveland Browns owners Jimmy and Dee Haslam, a person with knowledge of the sale told USA TODAY Sports. The person requested anonymity because they were not authorized to speak publicly until the deal is official. The sale must be approved by NBA owners.

The NFL team-owning Haslams are buying Lasry’s share of the NBA team on a $3.5 billion valuation, just shy of the $4 billion valuation of the Phoenix Suns and Mercury. Mat Ishbia, and his brother, Justin, acquired 57% of the Suns and Mercury in a deal that was completed on Feb. 7.

Lasry, along with main owners Wes Edens and Jamie Dinan, bought the Bucks franchise from former Wisconsin Sen. Herb Kohl on a $550 million valuation in 2014.

The Bucks had just drafted Giannis Antetokounmpo, and after naming Jon Horst general manager and Mike Budenholzer coach, the Bucks built a championship-caliber team, winning the 2021 title. Ownership also helped build a downtown arena and nearby practice facility and added to the entertainment district around the arena.

Lasry’s son, Alex, is a senior vice president for the Bucks and ran for one of Wisconsin’s U.S. senate seats in 2022, dropping out before the Democratic primary.

The Bucks are 43-17 in second place in the Eastern Conference, a half game behind the Boston Celtics. They have won 14 consecutive games and are expected to be a major factor in this season’s playoffs.

Haslam and his wife, who made their fortune in the Pilot Flying J truck stop chain, have a net worth of $4.8 billion, according to Forbes.