What to know about Jimmy and Dee Haslam's pending stake with the NBA's Milwaukee Bucks

PHOENIX — The biggest national story currently involving Browns owners Jimmy and Dee Haslam has nothing to do with the football team. Instead, it's about their venture into a new sports enterprise.

Late February, it was reported that the Haslam Sports Group had a deal in place to purchase the 25% of the NBA's Milwaukee Bucks owned by Marc Lasry. The reported cost would be for a $3.5 billion valuation.

Lasry and Wes Edens had originally purchased the Bucks in 2014 at a cost of $550 million. Edens is maintaining his portion of the team.

The Haslams' interest in the Bucks originated with multiple reports on Feb. 10. The agreement being in place was reported Feb. 27, just prior to the start of the NFL's Scouting Combine, which they don't typically attend.

The Haslams spoke for the first time to reporters since last August during a 25-minute interview Monday with a small group of Northeast Ohio media, including the Beacon Journal, while at the NFL's annual meetings at the Arizona Biltmore Resort. One of the topics which came up was the Bucks ownership.

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"It's opportunistic," Jimmy Haslam said. "I mean listen, we never thought we'd own 10% of the Steelers. Never thought we'd own the Browns. Dee and I had never been, beside watching (daughter) Whitney play high school soccer, had never been to a soccer game. So it's just opportunistic. It was straightened set of circumstances; we were called on this opportunity. Business, sports, you tend to be optimistic. I have no idea what will happen next. First thing's first, let's get this done and then let's get the Browns winning games."

Here's a look at what to know about the Haslams branching out into the NBA world based upon that conversation.

Are Jimmy and Dee Haslam officially in NBA ownership at this point in time?

The Haslams confirmed their interest in the Bucks. However, Jimmy Haslam said the NBA's process is still playing out with regards to the sale.

"It hasn't been formally approved," he said. "I think you all know we like business, we like sports, and we consider it a good opportunity. But it's really premature for us to say anything because we haven't been approved by the NBA yet. There's a couple more hoops to jump through."

When will the sale by Marc Lasry to the Haslam Sports Group be completed?

According to Jimmy Haslam, "over the next couple months."

Will Jimmy and/or Dee Haslam be the controlling owner, or "governor" when the sale is done?

Jimmy Haslam said Monday that Edens would continue to serve as the team's governor. A Forbes report from February stated that the plan was for Edens to have control for five years, then for the Haslams to have control for five years in a plan similar to how the Philadelphia 76ers ownership of Josh Harris and David Blitzer work.

The Haslams wouldn't go into detail when asked about the arrangement, other than to confirm that Edens would be the governor.

"We're working through those details now," Jimmy Haslam said. "But this is not going to be, if you look at that team, they're performing pretty well. So we're going to keep our head down, ask a lot of questions and try to learn, right."

How does this impact the Cleveland Browns and ownership of that team?

In one word, Jimmy Haslam said, "zero."

It's not the first sports team to fall under the umbrella of the Haslam Sports Group. The Haslams purchased the Columbus Crew of Major League Soccer in 2018.

The Haslams, who have homes in both Tennessee and Northeast Ohio, pointed to their business ventures.

"Well fortunately in our business (Pilot Flying J Travel Centers), we're in 46 states and seven Canadian provinces, so we're used to moving around a lot and operating a lot of different places," he said. "... Knoxville's our main office, but we've got six or seven other offices around the country, so that helps. But it's all about right people, right place."

Are there other examples of NFL owners having stakes in multiple pro franchises?

There are multiple examples of other NFL owners who own teams not just in multiple sports, but also multiple markets. The rule [preventing that was lifted by the league in 2018.

Stan Kroenke owns the Los Angeles Rams, but he and his family also have controlling interest in both the NBA's Denver Nuggets and NHL's Colorado Avalanche. Jody Allen assumed ownership of the Seattle Seahawks and the NBA's Portland Trail Blazers when her brother, the late Paul Allen, passed away.

There's also examples of same-city, multiple-sports owners. Terry and Kim Pegula own both the Buffalo Bills and the NHL's Buffalo Sabres.

What happens if the Milwaukee Bucks face the Cleveland Cavaliers in the NBA playoffs?

The Haslams were asked maybe the most important question of all with regards to owning an NBA team in one market and and NFL team in another one. What happens if the two cities collide in the postseason?

"It would be awkward," Dee Haslam said.

Added Jimmy Haslam, "I'd have to sit in the suite for that one."

Contact Chris at ceasterling@thebeaconjournal.com.

On Twitter: @ceasterlingABJ

This article originally appeared on Akron Beacon Journal: What to know about Jimmy and Dee Haslam buying into the NBA's Bucks