New Bucks co-owner Jimmy Haslam addresses purchase, the luxury tax, future of team

Jimmy Haslam has been around the Milwaukee Bucks and Fiserv Forum for the last few months, but the chairman of Haslam Sports Group – and his wife and CEO, Dee – were announced as co-owners of the franchise on April 14.

They purchased 25% of the team from Marc Lasry.

Haslam joined co-owner Wes Edens for a brief interview before the Bucks hosted the Miami Heat in the second game of their first-round playoffs series Wednesday night, marking the first time Haslam and Edens have addressed the official ownership change publicly.

The following is a transcript of the interview, lightly edited for clarity:

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Why did Haslam Sports Group want to buy into the NBA and the Bucks?

Haslam: We’ve been involved in football first and then soccer but always admired and liked the NBA. I mean, it’s a great league. Basketball is played worldwide. There’s no question this is the best league in the world. I think it’s got great owners, including our new partners, great commissioner. We’ve looked at it a couple times before and this just happened; Wes and I had mutual acquaintances who introduced us, and (we) happened to come together. We’re really excited about the opportunity.

Did the Haslams and Wes Edens know one another?

Haslam: It was kind of strange. We actually took a look at the Minnesota Timberwolves and a friend of mine said you should call Wes Edens, he operates a team in the upper Midwest, they’ve had great success ‘cause you’re concerned, can you attract players, can you win in a small market? So we had about an hour-and-a-half conversation and Wes was hugely helpful. We ended up not getting the Timberwolves and then, like I said, we had mutual acquaintances who introduced us. So we never met, but we (had) talked on the phone before.

When did Haslam Sports Group and Edens come together about the Bucks?

Edens: Probably at the end of last year. I think we came to a game right before the end of the year.

Haslam: We came to a game on December 30^th. I think we talked a couple times before that.

Edens: Yeah, that’s right. December.

Haslam: Pretty quickly.

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Will the Haslam Sports Group be involved in the community?

Haslam: You know, we’ve been very involved in Cleveland and Columbus, and plan to be involved in an appropriate way in Milwaukee. It’d be premature to say now (exactly how). We look forward to spending time here in the community.

What does the Haslam Sports Group think about the future of the Bucks in Milwaukee?

Haslam: The first time Wes and I ever talked was (asking) could an NBA team not just reside here, but could it be successful? And they’ve obviously proved they can. They’ve punched way over their weight in almost everything in the NBA, starting first of all on the court, which is what counts. I anticipate the team being here for a long time. Listen, this isn’t a turnaround situation. These guys have done a hell of a job, so we’re gonna be quiet and listen and learn, and if we can help down the road, that’s great.

Why did you keep the rotating five-year governorship?

Edens: Yeah, the NBA has a lot to say about that. I think Adam (Silver) is a spectacular commissioner; we have a great relationship, and really Jimmy and I spent a number of meetings with him and talked about it. Basically the bottom line is it’s what they had agreed to originally (and it) is what they wanted to stick with.

Was it a recommendation from the NBA that Edens take that governorship a year early?

Haslam: Listen, here again, they’ve got this thing going really well. Wes has been in the league nine years, so he knows way more about the NBA than we did, so it just made sense for him to do it, let us get our feet wet and learn for the next five years and then we’ll swap.

Edens: I’d say also that the governorship, the way that I envision it, the way Jimmy envisions it, it’s a partnership. So it’s a governorship in title only. I mean, our handshake deals we’re going to agree on, everything is material. And like any business, that really means the people. So, it means the people at the top of the organization: you pick them, you give them resources, you let them do their job, you hold them accountable. Jimmy’s been spectacularly successful in his business life, and this is no different. That’s the way we envision it. So I think that the notion of governorship and how everything goes is a little bit overblown, as the least the way we think about it.

What has Haslam Sports Group learned in owning the Cleveland Browns and Columbus Crew?

Haslam: It’s no different. I’ve been in meetings (for our) main business the last three days down in Tennessee. In a way sports are different, and in a way, (they're) not; it’s all about getting the right people in the right place. In sports it’s coach, GM, you have to have somebody good on the business side like we do with Peter (Feigin), and then it’s matter of getting the right players. The NFL is very specific – you gotta have a quarterback. The NBA, you’ve gotta have one really great player and two really good players.

What’s appealing about the Bucks ownership structure to the Haslam Sports Group?

Haslam: That’s a great point. When we came into Columbus, the team was ready to leave town. It was just a mess. And when we came to Cleveland, it was a difficult situation. They’ve got this thing going well. I’ll be honest, it’s appealing not to have to shoulder all the load yourself and do it all. Wes and I talk or text regularly, but like I said, they’ve done a great job here, and so stepping into an established franchise that’s on a good track is very appealing.

How do the owners feel about paying the NBA luxury tax?

Haslam: We’re committed to winning. We talked about that early on.

What is the learning curve for the Haslam Sports Group regarding roster decisions this summer?

Haslam: Wes and Jon (Horst, the Bucks general manager) have done a good job of bringing us up to date on the financials and the various impacts of different options we might choose.

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This article originally appeared on Milwaukee Journal Sentinel: Jimmy Haslam, Wes Edens address Haslams' Bucks ownership plans