The news that Milwaukee Bucks co-owner Marc Lasry has agreed to sell his share of the team to Jimmy and Dee Haslam, owners of the NFL’s Cleveland Browns, could be cause for concern for Bucks fans.
The transaction values the team at an impressive $3.5 billion, which is a significant increase from the $550 million that Lasry and his co-owners paid for the team back in 2014. Lasry has been a key figure in the team’s success in recent years, helping to build a roster around superstar player Giannis Antetokounmpo, who has won back-to-back MVP awards and led the Bucks to their first NBA championship in 50 years in 2021.
Lasry’s departure from the team raises questions about what the future holds for the Bucks. As the team’s governor, Lasry held a top decision-making position within the organization. He and co-owner Wes Edens alternated in the role.
It is expected that the Haslams will do the same once the sale is finalized. However, the Haslams are new to the NBA ownership world, and it remains to be seen how they will adapt to the league’s unique challenges and opportunities.
The NBA’s approval process for new owners is rigorous, and the league will conduct a thorough background check on the Haslams before the sale is finalized. However, there’s always a degree of uncertainty when new owners take over a team, especially when they come from a different sport.
The Haslams will need to build relationships with the team’s players, coaches, and front office staff, as well as navigate the complexities of the NBA’s salary cap and collective bargaining agreement.
It’s worth noting that the Haslams are not the only billionaires with major ownership stakes in both the NBA and the NFL, but they will be joining a small group of individuals who are able to leverage their ownership positions in two of the most valuable sports leagues in the world.
While the sale of the Bucks to the Haslams is not necessarily a cause for panic among fans, it does represent a significant shift in the team’s ownership structure and raises some valid questions about what the future holds for one of the NBA’s most successful franchises in recent years.
Given the lack of positive results in Cleveland since the Haslams acquired the Browns franchise, fans should be on high alert for the potential of questionable decisions and years wasted.