Sources: Browns owners seek 25% stake in Bucks
Browns owners Dee and Jimmy Haslam are in talks to buy a minority stake in the NBA’s Milwaukee Bucks, sources confirmed…
CLEVELAND — Cleveland Browns owners Dee and Jimmy Haslam are in talks to buy a minority stake in the NBA’s Milwaukee Bucks, sources confirmed to ESPN’s Tim Bontemps.
The Haslams, who have explored expanding their pro sports portfolio outside Ohio in the past, are seeking to acquire the 25% share currently held by Marc Lasry, the sources said.
There is no timeline for an agreement or sale, according to multiple reports. The news was first reported by The Athletic.
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 Haslams purchased the Browns in 2012 from Randy Lerner for $1.05 billion. They also own the Columbus Crew of Major League Soccer and manage the stadiums for both of those franchises.
The Haslams previously approached the Minnesota Timberwolves about buying them.
The Haslams’ tenure as NFL owners has been defined by losing and change. Cleveland has gone 60-119-1 and had one playoff appearance in the past 11 seasons. The team has also had six full-time coaches in that span.
The Associated Press contributed to this report.
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