Milwaukee Bucks co-owner Marc Lasry has agreed to sell his share of the team to Cleveland Browns owners Jimmy and Dee Haslam for a $3.5 billion valuation, ESPN reported Monday.
Sources said the deal is still pending league approval. If approved, it will be the second most expensive NBA team sale, after the $4 billion valuation of the Phoenix Suns sold for last month.
Lasry bought the Bucks from retail magnate and US Senator Herb Kohl in 2014, along with co-owner Wes Edens, for $550 million.
The Bucks value has risen sharply thanks in part to on-court success — the team won the NBA title in 2021 — and the 2018 opening of Fiserv Forum and the surrounding Deer District.
Lasry plans to retain downtown Milwaukee real estate holdings after the sale, sources said.
The Bucks are currently a half-game behind the Boston Celtics for the NBA’s best record and has won a league-leading 14 straight games. The Bucks next play Tuesday night in Brooklyn against the Nets.