The Milwaukee Bucks are going to have a new voice on their ownership team. Cleveland Browns owner Jimmy Haslam has come to an agreement to purchase Marc Lasry’s stake in the team. Shams Charania of The Athletic was the first to break the news on social media.
Milwaukee Bucks co-owner Marc Lasry has an agreement to sell his stake in the Bucks to American businessman and Cleveland Browns owner Jimmy Haslam and Haslam Sports Group for a $3.5 billion valuation, sources tell me and @eric_nehm.
— Shams Charania (@ShamsCharania) February 27, 2023
How Much Did Jimmy Haslam Pay for the Milwaukee Bucks?
Wes Edens, who purchased the Milwaukee Bucks along with Lasry in 2014, is still a major stake holder in the team, along with Jamie Dinan who was part of the group that acquired the franchise from Herb Kohl for $550 million. According to reports, Lasry owned 25% of the team, and that is the stake that Haslam has purchased. The $3.5 billion valuation mentioned in Charania’s Tweet means that Haslam has agreed to pay about $875 million.
Milwaukee Bucks Fans Have Strong Reactions to the Purchase
Jimmy Haslam does not have the best track record as owner of the Cleveland Browns. For one thing, the Browns franchise has been a laughingstock in the NFL for decades. If that were not enough, Haslam and the Browns agreed to pay DeShaun Watson nearly a quarter of a billion dollars after his sexual assault civil suit cases. Due to these reasons, Bucks fans do not have a positive outlook on the sale:
The only “narrative” that I have seen is the fact that Jimmy Haslam might not be the best guy, and the browns decision making during his ownership has been questionable.
I don’t see why that is so awful to point out and to have a few concerns over considering today’s news. https://t.co/NWEFOI95VY
— 🦌🏆💍 (@SnellSZN) February 27, 2023
Very funny to see bucks fans crawl out of the woodwork to defend Jimmy Haslam? For some reason? The guy who ran the browns like shit for 15 years and who’s company got convicted for fraud?
He’s a bad owner with a bad track record and bad personal businesses. Nothing more to it!
— Bobby POTUS (@BobbyPOTUS) February 27, 2023
The Lasry’s (along with Edens and Dinan) had a vision to not only build a great arena but a great franchise. Thank you for that.
(Although did you have to walk out the door leaving us with the Haslam’s?)#FearTheDeer #Bucks
— Todd Welter (@toddjdub) February 27, 2023
Basically the one detail that will define Haslam coming in for me is if Jon Horst retains the lead chair and, outside of typical ownership signoff, has full authority over basketball operations. Horst knows Bucks culture in and out and he is the guy to continue leading them.
— Ti Windisch (@TiWindisch) February 27, 2023
I don’t know much about Haslam personally BUT – the man has a lot more money than Lasry and spends it.
The only problem is (in the NFL) he spends it on poor character guys.
As long as we don’t start signing a bunch of terrible people im ok with it. https://t.co/zW5haXGuQm— Uncle Jrue (@IAmMitchLang) February 27, 2023
This is worth noting as, what I view, the only potential positive from this change:
Lasry net worth: $1.8 billion
Haslam net worth: $4.8 billionBucks ownership is now significantly more wealthy. https://t.co/YKbe88gQRD
— Justin Wills (@itsjwills) February 27, 2023
So, the general consensus among most Bucks fans, at least the ones on social media is that:
- There are concerns over Haslam influencing the Bucks to sign low-character players. It is noteworthy that just a few days ago, Jae Crowder noted how there is not a single bad egg in the Bucks’ locker room. He said that is something that really stands out to him and makes him even more excited to play in Milwaukee.
- At the very least, Jimmy Haslam has a lot more money than Marc Lasry. If Haslam will stay out of personnel decisions and just write checks, it will be okay.
- That whole fraud conviction is concerning.
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FAQs
When Was the Last Time Milwaukee Bucks Won a Championship?
The Milwaukee Bucks’ latest NBA Championship was captured in 2021. Giannis Antetokounmpo was dubbed MVP, averaging 35.2 points, 13.2 rebounds, 5.0 assists, 1.2 steals, and 1.8 blocks per game.
Who Owns the Milwaukee Bucks?
The Milwaukee Bucks are owned by a group of 20 investors. Major investors include Jimmy Haslam, Wes Edens, Jamie Dinan and Mike Fascitelli. Minority owners range from quarterback Aaron Rodgers to Gale Klappa, Executive Chairman of Wisconsin Energy Corporation.
How Many Championships Do the Milwaukee Bucks Have?
The Milwaukee Bucks have won two NBA Championships. The first came in 1971 under head coach Larry Costello. The latest came in 2021 under head coach Mike Budenholder.
Will the Milwaukee Bucks win the NBA Championship in 2023?
With another MVP-caliber season from Giannis Antetokounmpo, the Bucks continue to lead the Eastern Conference Central Division. Kris Middleton is getting healthy and Brook Lopez is having a career year – signaling the Milwaukee will make another run at the championship in 2023.
Who Is the Greek Freak?
Giannis Antetokounmpo is the Greek Freak. He was given the name based on his home country, Greece, plus his freakish size and athleticism for an NBA power forward.
