Bucks’ Mark Lasry to Sell Ownership Stake to Browns’ Jimmy Haslam, per Reports

A 25% stake in the team reportedly will be sold for approximately $875 million.

Bucks co-owner Marc Lasry is in agreement to sell his stake in the team to Browns owner Jimmy Haslam and Haslam Sports Group, according to The Athletic. Both ESPN and the Associated Press confirmed the report and added that Haslam’s wife, Dee, who is a co-owner of the Browns, is also a party to the purchase.

The deal, which was discussed for several months, is still pending league approval. Lasry’s stake is 25% of the Bucks and would make the Haslams co-owners along with Wes Edens. Lasry and Edens bought the Milwaukee franchise from Herb Kohl in 2014 for $550 million.

The deal places a $3.5 billion valuation on the team, which would be the second-highest valuation ever for an NBA franchise. That would place the Haslams’ purchase price at approximately $875 million. The only larger valuation is the recent $4 billion purchase of the Suns by Mat Ishbia from Robert Sarver.

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The Haslams bought the Browns in 2012 for a little more than $1 billion, and they also ventured into the soccer world in 2019 when they bought MLS’s Columbus Crew. 

The Haslams previously have explored buying other NBA teams, such as the Timberwolves, according to the AP.