After months of speculation and agonizing patience, Marc Lasry has officially executed the sale of his stake in the Milwaukee Bucks organization. The co-owner and Jimmy Haslam, along with Haslam Sports Group, have completed the long-awaited transaction that holds a value of $3.5 billion, as reported by The Athletic’s Shams Charania via Twitter on April 14.
Milwaukee Bucks co-owner Marc Lasry is completing the sale of his Bucks stake to Cleveland Browns owner Jimmy Haslam and Haslam Sports Group for a $3.5 billion valuation on Friday, sources tell me and @eric_nehm. https://t.co/JLPL3lQD1t
— Shams Charania (@ShamsCharania) April 14, 2023
This move comes nearly two months after Charania reported that Lasry had agreed to terms with Haslam Sports Group on the financial details of the deal. The news has also surfaced just two days before the Bucks are slated to take on the winner of Friday’s Play-In Tournament bout between the Miami Heat and Toronto Raptors.
Marc Lasry has held partial ownership of Milwaukee since April of 2014 when he purchased his initial stake from Herb Kohl. The deal then held a worth of $550 million, which marks a $3 billion growth in value throughout his tenure with the franchise.
During his nine-year stint as co-owner, the Bucks went on to achieve a tremendous amount of success, highlighted by attaining their second NBA Championship back in 2021.
Now, with this sale, Jimmy Haslam and Haslam Sports Group hold key stakes in both the Milwaukee Bucks of the NBA and the Cleveland Browns of the NFL.
As for the actual team, they find themselves gearing up for what will be their seventh-straight postseason run. Heading into the playoffs, the top-seeded Bucks are viewed as one of the clear favorites to come away with the 2023 Larry O’Brien Trophy.
An NBA title in just his first few months of holding an ownership stake certainly would be a great start to Haslam’s tenure out in Wisconsin.
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