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Cleveland Browns owners Jimmy and Dee Haslam have reportedly agreed to purchase Marc Lasry’s stake in the Milwaukee Bucks for a $3.5 billion valuation.
Shams Charania of The Athletic and Stadium reported the news, with the Haslams joining Wes Edens for the biggest stakes in the Bucks among the ownership group. Edens and Lasry spearheaded the group that bought the franchise from Herb Kohl in 2014 for $550 million.
Over the course of the Edens-Lasry tenure, the Bucks built a new arena in Milwaukee and watched the franchise soar to new heights thanks in large part to star Giannis Antetokounmpo. The team won its first championship since 1971 in 2021, and Antetokounmpo has taken home a pair of league MVPs.
The Haslams currently own the Browns and the Columbus Crew of Major League Soccer. The Browns have been one of the least successful franchises under Haslam’s stewardship, making the playoffs just once since he bought the team in 2012.
The Crew won the 2020 MLS Cup but have otherwise been unsuccessful in Haslam’s ownership tenure as well. The franchise has missed the playoffs in consecutive years since winning the championship in the pandemic-shortened season.
Jimmy Haslam, the chairman of the Pilot Flying J truck stop chain, has also seen his business dealings be shrouded in controversy in recent years. The company’s board of directors admitted responsibility for a massive fraud scheme in 2018 and paid $92 million as part of a settlement agreement.
Haslam denied involvement in the scheme and was never charged with a crime.