AP sources: Haslams agree to purchase Lasry’s stake in Bucks

Agreement has not been finalized

A sea of fans stands can be seen in front of the Fiserv Forum.
Fans fill the Deer District outside the Fiserv Forum where the Bucks would play game six against the Phoenix Suns with a chance to win the NBA Championship on Tuesday, July 20, 2021, in Milwaukee, Wis. Angela Major/WPR

Two people with knowledge of the negotiations say Cleveland Browns owners Jimmy and Dee Haslam have agreed to purchase Marc Lasry’s 25 percent stake of the Milwaukee Bucks in a deal that puts the value of the NBA franchise at $3.5 billion.

The agreement has not been finalized.

The people spoke to The Associated Press on condition of anonymity because neither the Bucks nor the Haslams publicly disclosed any element of the agreement.

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The Haslams would be spending about $875 million for Lasry’s stake of the team. It would be the second-highest valuation in NBA history, behind the $4 billion valuation for the Phoenix Suns and Phoenix Mercury when Mat Ishbia acquired them in a deal that closed this month.