The Milwaukee Bucks are switching over to new ownership. According to ESPN‘s Tim Bontemps, team co-owner Marc Lasry is selling his portion of the team to Cleveland Browns owners Jimmy and Dee Haslam. The selling figure is $3.5 billion.
The deal is subject to league approval but will be the second-highest valuation of an NBA team. The only one to top it is the $4 billion sale of the NPhoenix Suns completed at the earlier of the month, sending ownership from Robert Sarvar to Mat Ishbia.
Before the Suns’ purchase, the previous record was Joe Tsai’s purchasing of the Brooklyn Nets for $2.3 billion.
Lasry bought the team in 2014, in partnership with New York hedge fund financier Wes Edens. The purchase price was $550 million. In that time, the Bucks became the home of one of the best players in the league NBA MVP Giannis Antentokounmpo, and won a championship in 2021.
Today, the Bucks eye another championship and currently have the longest-running win streak in the NBA at 14 games.
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