Cleveland Browns owners Dee and Jimmy Haslam are in the process of expanding their investment portfolio by foraying into NBA ownership. The pair are currently in talks to purchase a 25% stake in the Milwaukee Bucks.
No strangers to seeking sports investment opportunities outside of Ohio, the Haslams are looking to acquire the share of the Bucks that is currently owned by Marc Lasry. This comes after the Haslams previously approached the Minnesota Timberwolves regarding an investment opportunity.
In 2014, New York investment firm executives Lasry and Wesley Edens purchased the Bucks from former U.S. Senator Herb Kohl for a price of approximately $550 million in an effort to keep the team in Milwaukee. The Haslams purchased the Browns in 2014 from Randy Lerner in a deal worth $1.05 billion. They also own the Columbus Crew MLS team and have an active role in managing the stadiums for both sports franchises.
Under the Haslams’ ownership, the Browns have gone 60-119-1, managing a single playoff appearance in 11 seasons.
