BEREA, Ohio — Cleveland Browns owners Dee and Jimmy Haslam are in talks to buy a minority stake in the NBA's Milwaukee Bucks, a person familiar with the negotiations told The Associated Press on Friday.
The Haslams, who have explored buying other pro teams in the past, are seeking the 25% share currently held by Marc Lasry, according to the person who spoke on condition of anonymity because of the sensitivity of the situation.
There is no timeline for an agreement or sale, the person said. Sportico was first to report the Haslam Sports Group's interest in the Bucks.
Lasry and Wesley Edens, both New York investment firm executives, bought the Bucks from former U.S. Sen. Herb Kohl for about $550 million in 2014 with pledges to keep the team in Milwaukee. The club soon secured a deal for a new arena and, boosted by two-time MVP Giannis Antetokounmpo, won the NBA championship in 2021.
Forbes currently estimates the Bucks' total value at $2.3 million, more than four times the 2014 purchase price. An acquisition by the Haslams could potentially made them "controlling owners" alongside Edens.
The Haslams bought the Browns in 2012 and also own the Columbus Crew of Major League Soccer, saving the latter franchise from potential relocation while spearheading a new stadium and overseeing an MLS Cup victory in 2020. They have been interested in expanding their pro sports portfolio outside Ohio, and previously approached the Minnesota Timberwolves about buying them before they were eventually sold to businessman Marc Lore and former baseball star Alex Rodriguez.
Prior to arriving in Cleveland, the Haslams owned a shared of the Pittsburgh Steelers. However, their stewardship of the Browns has not been without controversy, as the team has endured a record of just 60-113-1 with one playoff appearance since they took over. Jimmy Haslam's truck stop chain Pilot Flying J was also caught up in a massive fraud scheme a decade ago, although Haslam himself was not criminally charged and the company agreed to pay tens of millions in restitution.
3News' Tyler Carey contributed to this report