Bucks owner Marc Lasry is completing the sale of his stake in the Bucks to to Cleveland Browns majority owner Jimmy Haslam, per Shams Charania and Eric Nehm of The Athletic.
Haslam is paying $3.5 billion for his stake in the Bucks, and the sale has been approved by the NBA Board of Governors, Charania and Nehm added.
Haslam will now share ownership of the NBA franchise with current co-owner Wes Edens — he though will continue to be majority owner of the Browns even with partial ownership of the Bucks, sources told Hoops Wire.
Edens and Lasry bought the Bucks from previous owner Herb Kohl in 2014, reportedly for $550 million. Haslam’s interest in the Bucks came just recently, but intensified after American businessman Mat Ishbia bought controlling interest of the Suns, Charania reported. Ishbia had been viewed as a potential Bucks co-owner first.
As Charania and Nehm reported, the Bucks have some interesting roster decisions coming up, with forward Khris Middleton possessing a player option on his contract this summer. Center Brook Lopez and forwards Jae Crowder and Joe Ingles are all also eligible for free agency. Point guard Jevon Carter has a player option on his deal as well.
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