Cleveland Browns owners reportedly pursuing minority share of Milwaukee Bucks
Cleveland Browns owners Dee and Jimmy Haslam are taking another shot at the NBA.
Looking to expand their professional sports portfolio outside of Ohio, the Haslams are in talks to buy a minority stake in the Milwaukee Bucks, a person familiar with the negotiations told The Associated Press on Friday.
The Haslams have explored buying other pro teams, including the Minnesota Timberwolves in the past, and now are seeking the 25% share currently held by Bucks co-owner 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 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’ 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.
Reporting by The Associated Press.
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