Jimmy Haslam in talks to buy ownership stake in NBA's Milwaukee Bucks | Report
Jimmy Haslam and Haslam Sports Group are in discussions to purchase a share of the NBA's Milwaukee Bucks from co-owner Marc Lasry, The Athletic reported on Friday.
Sportico reported that Lasry's stake in the Bucks is about 25% of the team. Lasry and co-owner Wes Edens bought the Bucks from Herb Kohl for $550 million in 2014. The Bucks have been valued at $2.3 billion.
Haslam, 68, is a major University of Tennessee athletics donor and chairman of the board for the Pilot Company, based in Knoxville. He also owns the NFL's Cleveland Browns and MLS' Columbus Crew.
The Journal Sentinel reported in January that the end of Lasry’s governorship of the team (it will revert back to Edens next season) and the Bucks’ position as a luxury tax team are not motivations for a sale.
“It requires a huge commitment of personal time, particularly when you don’t live in market,” NBA commissioner Adam Silver told the Journal Sentinel in January when asked about the reports of Lasry’s interest in selling his share of the Bucks.
“I’d say for all of the owners that are involved with the Bucks they spend an enormous amount of time on planes going back and forth from their principal residences to Milwaukee. It requires ongoing investment. I think particularly in the situation here in Milwaukee the team has elected to be a taxpayer, understandably, in order to compete in the league and to keep their championship-caliber team together. So, there’s ongoing investment required.”
The Bucks have become one of the best teams in the NBA under the ownership of Lasry and Edens. The Bucks won the 2021 NBA championship and have made the playoffs the last six seasons. The franchise and the city of Milwaukee opened Fiserv Forum in 2018. This season, the Bucks are second in the NBA's Eastern Conference with a 38-17 record, led by two-time NBA MVP Giannis Antetokounmpo.
Bill Haslam, Jimmy's brother, agreed last year to purchase a majority share of the NHL's Nashville Predators over a three-year period.
The Milwaukee Journal Sentinel contributed to this story.
This article originally appeared on Knoxville News Sentinel: Jimmy Haslam in talks to buy stake in NBA's Milwaukee Bucks | Report
