What I’m hearing about Haslam Sports Group interest in the Milwaukee Bucks – Terry Pluto

CLEVELAND, Ohio – Several sources have reported Browns owners Dee and Jimmy Haslam are talking about buying 25% of the NBA’s Milwaukee Bucks. Here’s what I’m hearing from some of my sources:

1. The Haslams own Haslam Sports Group, which already owns 100% of the Browns. They also are major owners of the Columbus Crew of Major Soccer League. They have been looking to expand their reach into other pro franchises.

2. The Bucks were purchased by a group headed by Wes Edens. Part of that group is Marc Lasry. According to Sportico, Lasry wants to sell his 25% of the NBA franchise. I confirmed from a separate source that Lasry and the Haslams are getting close to a deal.

3. If the Haslams buy 25% of the Bucks, it won’t impact the Browns. They purchased the team from Randy Lerner in 2012. They love being NFL owners. They intend to keep franchise. They want to expand their holdings into various pro leagues. I heard they had spoken to a few other NBA franchises about buying minority positions before connecting with Lasry.

4. Lasry was part of the Edens group that bought the Bucks from longtime owner Herb Kohl for $550 million in 2014. The value of that franchise is at least $2 billion now.

5. The Haslams love the idea of being part of the NBA. Most of its franchises make money. The NBA is popular around the world. It has a salary cap and strong leadership on the league level. The prices of these franchises will continue to rise dramatically.

6. The Haslams sold a 39% stake in Pilot/Flying J to Warren Buffett’s Berkshire Hathaway Corporation in 2017 for $2.8 billion. By the end of 2023, Buffett could own close to 80% of the company, according to reports. That could mean as much as $6 billion to the Haslams.

7. The Haslams’ first step into the pro sports world was buying about 5% of the Pittsburgh Steelers in 2008. They then purchased the Browns for $1 billion, and sold their piece of the Steelers. They want to keep adding to their sports holdings.

8. Consider David Biltzer, the new minority owner of the Cleveland Guardians. He owns parts of teams in five U.S. sports leagues: Guardians (MLB), Sixers (NBA), Steelers (NFL), Real Salt Lake (MSL) and New Jersey Devils (NHL). He also has invested in soccer franchises in Europe. It seems the Haslams are following down that same road.

9. The Bucks are a well-run, successful NBA franchise. If the deal goes through, they would be in a position where the majority ownership rotates. The Bucks have a different form of ownership. Lasry, Edens and Jamie Dinan reportedly have about 25 percent each. So the Haslams would be on par with them. Green Bay QB Aaron Rodgers owns 1 percent. There also is another owner involved.

10. Due to their deal with Warren Buffett and other investments, the Haslams have the cash to extend their reach into different sports leagues and franchises. This is a big step in that direction.

EDITOR’S NOTE: This story has been updated.

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