Cleveland Browns owners to buy stake in Milwaukee Bucks

FILE – Cleveland Browns owners Jimmy, left, and Dee Haslam look on during the NFL football team’s training camp, on July 28, 2022, in Berea, Ohio. …

FILE – Cleveland Browns owners Jimmy, left, and Dee Haslam look on during the NFL football team’s training camp, on July 28, 2022, in Berea, Ohio. Browns owners Dee and Jimmy Haslam are in talks to buy a minority stake in the NBA’s Milwaukee Bucks, a person familiar with the negotiations told the Associated Press on Friday, Feb. 10, 2023. The Haslams, who have explored interest in buying other pro teams in the past, are interested in the 25% share currently held by Marc Lasry, said the person who spoke on condition of anonymity because of the sensitivity of the situation. (AP Photo/Nick Cammett, File)

by: Orri Benatar

Posted: Feb 27, 2023 / 09:26 AM EST

Updated: Feb 27, 2023 / 09:32 AM EST

MILWAUKEE (WCMH) — The organization that has majority ownership of the Columbus Crew and Cleveland Browns is reportedly set to buy a stake in an NBA franchise.

According to reports from The Athletic, Jimmy and Dee Haslam, who own Haslam Sports Group, are set to buy a $3.5 billion stake in the Milwaukee Bucks from current co-owner Marc Lasry. Lasry purchased his stake in the Bucks in 2014 for $550 million.

According to Sportico, the Bucks are valued at $2.43 billion which ranks 15th among the 30 NBA teams. The franchise had a 23% value increase from 2021 to 2022.

Milwaukee won a championship in 2021, its first in 50 years, and have one of the top superstars in the league with forward Giannis Antetokounmpo. This season, they are among the top teams in the NBA as they look to win its second title in the last three years.

The Haslams purchased majority ownership of the Cleveland Browns in 2012 for $987 million. Since that purchase of the Browns, the stadium and training facility gained naming-rights sponsors while the franchise value has increased to $3.85 billion, making the Browns one of the 50 most valuable sports teams in the world.

In 2018, the family ventured into soccer and bought an ownership stake in the Columbus Crew from Anthony Precourt, who planned to relocate the club to Austin, Texas. The purchase from the Haslams and Dr. Pete Edwards kept the team in Columbus.

In the last four years, the ownership group invested in the construction of a new stadium for the Crew in downtown Columbus and a new training facility. Lower.com Field and the OhioHealth Performance Center opened in 2021.

Similar to the Bucks and Browns, the Crew’s valuation sits in the middle of its league with a current valuation of $560 million, ranking 14th in MLS.

NBC4 has reached out for comment from Haslam Sports Group