Bombshell Milwaukee Bucks ownership rumor will catch Giannis’ eye
Giannis #Giannis
There is a growing possibility that Milwaukee Bucks’ owner Marc Lasry will sell his ownership stake in the team in 2023, according to league sources.
The Giannis Antetokounmpo led Eastern Conference juggernauts were purchased by Lasry and Wes Edens in April 2014 from Senator Herb Kohl for a reported $550 million. Sources tell Marc Stein that Lasry has been “actively looking to sell his stake in the franchise.”
It’s possible that Lasry will sell his stake directly to Edens, who already co-owns Aston Villa in the English Premier League along with his role as co-owner of the Bucks. Lasry reportedly continues to explore his exit options, which included talks to sell to former Michigan State guard Mat Ishbia, but it seems increasingly likely he will sell his share to Edens.
In Forbes’ most recent compilation of franchise valuations in October, the Bucks ranked 15th in the NBA at $2.3 billion. Lasry and Edens joined forces to buy the team at the end of Antetokounmpo’s first season in the NBA in 2013-14. The team entered a new stadium in Fiserv Forum in 2018 and won the franchise’s first championship in 50 years during the 2020-21 campaign.
As part of the ownership deal, Lasry and Edens must trade off as the Bucks’ top-ranking team governor every five years, per Stein. Edens first held the role from 2014-2019. Lasry is the co-founder of hedge-fund investment group Avenue Capital, while Edens is the founder of private equity firm Fortress Investment Group LLC in New York.
Although it is likely Marc Lasry will simply sell his shares to Edens, it’s an intriguing storyline heading into 2023, especially considering the interest the franchise would garner if it was indeed put up for sale.
Giannis Antetokounmpo, the face of the franchise, is in the second year of a five-year, $228 million contract. The 28-year-old could be a free agent in the summer of 2025.
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