Cleveland Browns owners purchase stake in Milwaukee Bucks
According to the Wisconsin State Journal, the sale of Marc Lasry’s stake in the Milwaukee Bucks to Cleveland Browns owners Jimmy and Dee Haslam received approval from the NBA’s governors Friday. The Haslams join co-owners Wes Edens, Jamie Dinan, and Mike Fascitelli; Edens will fill Lasry’s previous role as the Bucks’ governor for the next five years.
Lasry and Edens bought the Bucks from former U.S. Sen. Herb Kohl for around $550 million in
2014, pledging to keep the team in Milwaukee.
The Haslams bought the Cleveland Browns in 2012 for $1.05 billion. Their tenure has seen some controversy with losing records and questionable personnel decisions. While the terms of the Bucks deal weren’t announced, February reports this year valued the team at about $3.5 billion; Lasry’s stake represents 25% of that figure.