How much of the Bucks did Dee and Jimmy Haslam buy? Browns owners splash the cash on Giannis Antetokounmpo’s franchise
Cleveland Browns team owners Jimmy and Dee Haslam are now invested in another professional sports team. On Friday, it was announced that the couple has purchased Marc Lasry's stake in the NBA's Milwaukee Bucks.
Eben Novy-Williams of Sportico reported that the Haslam Sports Group had purchased a 25% stake in the team. While the deal appears to be closed, it hasn't been officially announced by either party.
NEWS: The Haslams have closed on their purchase of Marc Lasry's 25% stake in the @Bucks.
The deal values the @NBA team at $3.2 billion.
sportico.com/business/team-…
"The Haslam Sports Group has closed on its purchase of Marc Lasry’s 25% stake in the Milwaukee Bucks with a deal that values the NBA team at roughly $3.2 billion, according to someone with direct knowledge of the agreement."
As reported by Sportico, Dee and Jimmy Haslam, owners of the NFL’s Cleveland Browns, now own about 25% of the Bucks. The deal closed early Friday morning, said the source, who was granted anonymity because the details are not public.
The Milwaukee Bucks have an estimated value of about $3.2 billion, which is one of the highest in the NBA. The Phoenix Suns were evaluated at $4 billion last year after a majority stake in the NBA franchise was purchased by Mat Ishbia.
"It’s among the highest valuations ever for an NBA team in a transaction. Earlier this year, billionaire Mat Ishbia purchased a majority stake in the Phoenix Suns in a deal that valued the franchise at a league-record $4 billion. The previous NBA high was $3.3 billion value of the Brooklyn Nets and the Barclays Center when Joe Tsai took over in 2019."-Eben Novy-Williams; Sportico
Jimmy Haslam's net worth
Jimmy Haslam may be widely known as the owner of the Cleveland Browns, but many fans don't know how he made his fortune. The 68-year-old is worth approximately $ 4.8 billion, according to Forbes. In 1976 he was hired by Pilot Corporation, which owns the Flying J truck stop and convenience store locations.
He was named the vice president of sales and development in 1980 and in 1996 was named the president and CEO of the company. The company is now worth more than $1 billion and is one of the country's largest private companies. In January, he sold the remaining 41% of the company to Warren Buffet's Berkshire Hathaway for $8 billion. In 2017, Buffet's company purchased 38.6% of the company.
The Haslam family sold its gas station business to Warren Buffett this year. Now it's set to buy a stake in the Milwaukee Bucks. trib.al/SFIfzAE
He purchased the Cleveland Browns in 2012 for an estimated $1 billion. At the time, Forbes estimated that the organization was worth about $977 million.
He is currently listed as one of the 1,000 richest people in the world.