Cleveland Browns owners Jimmy and Dee Haslam have agreed to purchase Marc Lasry’s 25% stake of the Milwaukee Bucks in a deal that puts the value of the NBA franchise at $3.5 billion, a person with knowledge of the negotiations said Monday.
MILWAUKEE —
Those numbers, if finalized, would mean the Haslams plan to spend about $875 million for Lasry’s stake of the team.It would be the second-highest valuation in NBA history, behind only the $4 billion valuation for the Phoenix Suns and Phoenix Mercury when Mat Ishbia acquired them in a deal that closed earlier this month. It’s also a massive return on Lasry’s initial investment.
The Bucks have enjoyed great success since that sale. They moved into a new arena in 2018, won their first NBA title in 50 years in 2021 and have built a perennial contender around Greek superstar and two-time MVP Giannis Antetokounmpo. If the Suns and Bucks are both being valued in the $3.5-to-$4 billion range, it stands to reason that expansion fees will be at least that much and likely more when the league decides the time is right to add clubs.
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