The Milwaukee Bucks co-owner Marc Lasry has agreed to sell his stake in the team to Cleveland Browns owners Jimmy and Dee Haslam for a fee of $3.5 billion. The completion of the deal is pending league approval.
Upon completion, this would be the second-highest valuation ever for an NBA team, only to be surpassed by the $4 billion valuation of the Phoenix Suns earlier this month, with Mat Ishbia purchasing a portion of the team from Robert Sarver. Furthermore, it would be the third highest overall for any professional American sports team, also trailing the $4.65 billion that the Denver Broncos were sold for in June 2022.
Lasry purchased the Bucks in 2014 for $550 million alongside fellow New York hedge fund financier Wes Edens. Since then, the Bucks have emerged as one of the strongest NBA franchises, with the team winning the 2021 NBA Championship. Since Lasry’s takeover, the Bucks amassed the fifth most wins of any NBA franchise, while star player Giannis Antetokounmpo won two NBA Most Valuable Player accolades.
Following his departure from Bucks ownership, Lasry is reportedly setting out to establish a sports investment firm within his existing investment firm.
