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Friday, July 12, 2024

Haslam Sports Group Reportedly Considers Stake in Bucks

  • The owners of the Cleveland Browns could be set to expand their sports ownership beyond Ohio.
  • Dee and Jimmy Haslam are having conversations about buying a minority stake in the NBA’s Milwaukee Bucks, according to multiple reports.
Haslam Sports Group owners, Dee and Jimmy Haslam.

The owners of the Cleveland Browns could be set to expand their sports ownership beyond Ohio.

Dee and Jimmy Haslam are having conversations about buying a minority stake in the NBA’s Milwaukee Bucks, according to multiple reports. 

Business executive Marc Lasry and Fortress Investment Group co-founder Wes Edens currently own the team, which won an NBA championship in 2021.

  • Haslam Sports Group would purchase a quarter of the team from Lasry.
  • Lasry previously considered selling his stake to Mat Ishbia before the latter bought the Suns.
  • But the overall process has been subject to some hesitation — The Athletic reported that Lasry has been mulling over the sale for multiple weeks.

Lasry and Edens originally bought the team in 2014 for around $550 million from former U.S. Senator Herb Kohl, but the Bucks are currently valued at $2.3 billion by Forbes, making them the 15th-most-valuable NBA franchise.

Carmelo Anthony, Former WWE Co-Presidents Launch Sports Fund

The firm hopes to provide between $50-$100 million per investment.
February 13, 2023

A Mixed Track Record

Haslam Sports Group has a so-so resume in the sports ownership space.

The group briefly held a stake in the Pittsburgh Steelers, but sold it in 2012 to buy the Browns for $11 million. The Browns have struggled mightily with the Haslams at the helm.

The group has had more success with its ownership stake in the MLS’ Columbus Crew, which won the MLS Cup in 2020, a year after the Haslams bought the team.

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