Milwaukee Bucks co-owner Marc Lasry is in discussions to sell his share to Cleveland Browns owners Jimmy and Dee Haslam
LOS ANGELES – When Milwaukee Bucks co-owner Marc Lasry and United Wholesale Mortgage CEO and chairman Mat Ishbia engaged in serious discussions about Ihsbia purchasing Lasry’s 25% share of the Bucks, a league source told the Journal Sentinel Lasry would remain interested in selling his share at a high valuation.
It appears another potential buyer values the Bucks as much as Lasry does, and discussions between Lasry and Jimmy and Dee Haslam have taken place, the Journal Sentinel confirmed from a league source familiar with the conversations.
The Bucks have been valued at $2.3 billion. The current ownership group purchased the franchise from Sen. Herb Kohl for $550 million in 2014.
Sportico and The Athletic initially reported the discussions.
The Journal Sentinel reported in January that the end of Lasry’s governorship of the team (it will revert back to co-owner Wes 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.”
Silver continued: “And so, as I said, I think that without specifically speaking to the circumstances right now among that group of partners, there’s nothing unusual happening to me in the case of this ownership group. I think that from my standpoint, I’m only complimentary of everything they’ve done. They’re really special and unique people and they have complemented each other’s skill set really well.”
Who are Jimmy and Dee Haslam?
Jimmy Haslam is the CEO of the truck stop chain Pilot Flying J and his wife, Dee, is CEO and partner in Rivr Media, a television production company. She is the CEO of Haslam Sports Group.
Pilot J was found responsible for defrauding truckers of $56.5 million in a five-year fraud scheme and 17 executives and staff members were sentenced. Haslam was deposed in the investigation but did not face any charges. The company also paid a $92 million fine.The Haslams split their time between Ohio and Tennessee.
Haslams own the Cleveland Browns and Columbus Crew
The NBA would be the third North American professional sports league the Haslams would be involved with.
They are the managing partners of the Haslam Sports Group, which has owned the Cleveland Browns of the NFL since 2012 and the Columbus Crew of the MLS since 2019.
The Browns have posted one winning season and made one playoff appearance (2020) in their tenure.
In August the couple pledged $1 million to “education to increase awareness of sexual misconduct” after the Browns traded for and extended quarterback Deshaun Watson after he faced two dozen accusations of sexual misconduct during massage sessions.
The Crew won the MLS Cup in 2020. They missed the playoffs in 2019, 2021 and 2022.
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This article originally appeared on Milwaukee Journal Sentinel: Bucks co-owner Marc Lasry disusses selling share to Browns' Haslams
