Fiserv Forum - Photo By Milwaukee Bucks
MILWAUKEE, WI (WSAU) – The Milwaukee Bucks’ ownership share purchase from franchise co-owner Marc Lasry was approved by the NBA board of governors on Friday.
The Haslams, who own the Cleveland Browns in the NFL, agreed to buy approximately 25% of the Bucks from Lasry for $3.5 billion on Feb. 27, according to ESPN.
Lasry originally paid former longtime U.S. Sen. Herb Kohl $550 million for the stake.
Wes Edens and Jamie Dinan will now be joined as co-owners of the Bucks by Jimmy and Dee Haslam, who amassed their wealth through the network of Pilot Flying J truck stops.
“On behalf of Jamie and the entire ownership group, I want to welcome Dee, Jimmy and the Haslam family to the Bucks,” Edens said in a statement to the media on Friday. “The Bucks have a special bond with the people of Milwaukee and throughout Wisconsin, and we’re looking forward to working closely with Dee and Jimmy to further build upon our team’s success, both on and off the court.
Edens, who bought the team with Lasry in 2014, will be the Bucks’ governor for the next five years, succeeding Lasry.
The Haslams purchased the Browns from Randy Lerner for just over $1 billion in 2012, and in 2019, they purchased the MLS team Columbus Crew.
Comments