NEWSLETTER
A little over two months after billionaire Mat Ishbia agreed to purchase the Phoenix Suns for a $4 billion valuation, we have another massive NBA sale.
Milwaukee Bucks co-owner Marc Lasry has sold his stake in the franchise for a $3.5 valuation. This would mark the second-largest valuation ever for an organization, per ESPN, falling right behind the recent Suns’ sale.
The sale is certainly something to monitor as the Bucks continue to look like the most dominant team in the NBA. They have won 14 games in a row despite Giannis Antetokounmpo playing very limited minutes in recent games due to injury.
Not to mention, the franchise will have some big decisions to make in terms of their spending this offseason. They have recently welcomed the luxury tax with open arms, and new ownership will have to continue to do so with guys like Khris Middleton and Brook Lopez hitting the unrestricted free-agent market in the coming months.
Speaking of which, couple Dee and Jimmy Haslem are the ones to have purchased Lasry’s stakes. They are currently the owners of the Cleveland Browns and an MLS franchise. The sale is still pending approval from the NBA, but all signs point to the Bulls’ central division foe finalizing an ownership change in the coming weeks.
What I have to wonder now is whether or not these massive dollar signs will begin to convince other NBA owners to jump ship. Prices are only going up, and there could be a few other long-time businessmen who are ready to cash in on an old investment. Something to keep an eye on.
