Bucks co-owner Marc Lasry completes sale of stake in team to Browns owner Jimmy Haslam, per report

Lasry, who bought the Bucks in 2014 with Wes Edens, sold his stake for $3.5 billion

Milwaukee Bucks co-owner Marc Lasry is completing the sell of his stake in the team to Cleveland Browns owner Jimmy Haslam and Haslem Sports Group for $3.5 billion, according to The Athletic. Lasry bought the Bucks in 2014 with Wes Edens from previous owner Herb Kohl for $550 million. Since Lasry and Edens took ownership of the team, the Bucks have been one of the most successful franchises in the NBA, highlighted by a championship in 2021.

The Bucks also built a new arena under Lasry and Edens, the Fiserv Forum, which opened in 2018. Lasry reportedly considered selling his stake to Mat Ishbia, who ultimately ended up buying the Phoenix Suns recently, and since shifted focus to selling to Haslam, per The Athletic. 

Since buying the Browns in 2012 for $1 billion, Haslem has also purchased the Columbus Crew of MLS and is expected to continue pursuing ownership opportunities across all sports. Outside of sports, Haslem is the chairman of the board of a truck stop chain called Pilot Flying J, and his father, Jim, founded the Pilot Oil Corporation in 1958.

Haslam already having experience as an owner of a professional sports team is beneficial, however, he's had a mixed bag of success with the two teams he currently owns. The Columbus Crew won the MLS Cup in 2020, the year after he bought the team. But his tenure with the Browns has been far less successful. Since buying the team in 2012, the Browns have posted just one winning season, and have made the playoffs just once in 2020. 

Joining the ownership group of the Bucks, who have won more regular season games than any other franchise in the last five years, will be a completely different experience. He will also be in a co-owner situation alongside Edens rather than owning the organization by himself.