The Milwaukee Bucks have been one of the consistently best teams in the NBA over the past half-decade. They've finished in first place in the Central Division four years in a row and look poised to win a fifth-consecutive division title this season. They won the 2021 championship, reached the conference finals in 2019, and made the semis in 2020 and 2022. They've also got Giannis Antetokounmpo, among the most exciting players in the league and the MVP during both the 2018-19 and 2019-20 seasons.
But things weren't always so rosy. Go back a decade, and the Bucks were downright bad. From the 2010-11 to the 2015-16 seasons, they never finished with a winning record. Rock bottom was the 2013-14 season — they finished dead last in the league with a 15-67 record.
That was also the season the team drafted Antetokounmpo and when Marc Lasry bought the Bucks alongside another hedge fund financier, Wes Edens. Lasry and Edens purchased the team from former U.S. Senator Herb Kohl for a $550 million valuation.
Nine years later, Lasry is selling his stake at a $3.5 billion valuation to Cleveland Browns owner Jimmy and Dee Haslam. Lasry owns a 25% stake in the team, which means he'd walk away with about $875 million, or more than six times his return on investment.
Marc Lasry (Aurelien Meunier/Getty Images)
It's the second-highest valuation ever for an NBA franchise. Mat Ishbia bought the Suns from Robert Sarver in a deal worth a record $4 billion earlier this year.
Of course, having a two-time MVP and a strong supporting cast helped turn the Bucks around. But under Lasry's ownership, the Bucks also unveiled a new arena and downtown area called the Deer District, driving more spending from the team's fans. Lasry plans to continue owning real estate in the city.
Even though he's selling the Bucks, Lasry probably isn't leaving the sports world entirely, either. He was an early investor in Major League Pickleball and is looking to create a sports investment fund inside his Avenue Capital firm.
Meanwhile, this is the third team for the Haslams, who made their fortune through Pilot Flying J, a truck stop chain across the United States. The Haslams bought the Browns in 2012 and added the MLS's Columbus Crew in 2019.
If the Bucks keep up their strong play, the new owners won't have to wait long for a championship.
