Marc Lasry’s Stake of Bucks Sold to Browns Owner Haslam

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Photo courtesy Fiserv Forum

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Fiserv Forum

Per a report from Shams Charania and Eric Nehm of The Athletic, Marc Lasry has agreed to sell his stake of the Milwaukee Bucks to Cleveland Browns owners Jimmy and Dee Haslam and Haslam Sports Group. It is reported that Lasry will seek ownership of another professional sports franchise, amongst other endeavors. The valuation of the team is $3.5 billion, which would be the second highest in NBA history. Only the sale of the Phoenix Suns, which were valued at $4 billion when sold earlier this month, was higher.

Haslam will now join an ownership group that includes Wes Edens, who purchased the team with Lasry from Herb Kohl for $550 million in 2014. Minority ownership in the team includes Green Bay Packers quarterback Aaron Rodgers, as well as businessmen Jamie Dinan and Michael Fascitelli. Lasry owned roughly 25 percent of the Bucks franchise.

Overall, not much should change with the new ownership dynamic. Haslam Sports Group currently owns not only the Cleveland Browns, but also the Columbus Crew in Major League Soccer. Haslam had previously owned a stake in the Pittsburgh Steelers before selling it to purchase the Browns in 2012. During his tenure, the team has a losing record of 44-94-1. Haslam Sports Group purchased Columbus Crew in 2019 and have since won the 2020 MLS Cup.

Jimmy Haslam is the son of Jim Haslam, founder of the Pilot Corporation. Jimmy Haslam currently sits as the chairman of the board for the corporation, which has more than 750 Pilot Flying J gas stations and truck stops in North America, including three in Wisconsin.

Marc Lasry’s son, Alex, ran for Senate in Wisconsin in the August 2022 Democratic primary, withdrawing his campaign in support of Mandela Barnes. While his father has sold his stake in the Bucks, Alex Lasry has recently formed a new political action committee, Next Wisconsin, and continues political efforts in the state.