Milwaukee Bucks co-owner Marc Lasry has reached agreement to sell his stake in the team to Jimmy and Dee Haslam of Haslam Sports Group. The valuation agreed to was $3.5 billion.
Lasry is selling his 25 percent share of the Bucks after nearly nine years of ownership. Lasry and Wes Edens bought the majority of the franchise from Herb Kohl in April 2014. Kohl still retains a significant minority investment in the Bucks.
Under Edens and Lasry’s ownership, the Bucks won the 2021 NBA Finals. The duo also helped push through the building of the Fiserv Forum. The Bucks have played there since October 2018.
The $3.5 billion valuation is the second-highest in NBA history, following the recent $4 billion valuation of the Phoenix Suns when Mat Ishbia purchased the team earlier this year. Haslam Sports Group also owns the NFL’s Cleveland Brown and MLS’s Columbus Crew.