The sports world blew up recently with news coming in that Bucks minority owner Marc Lasry had agreed to sell his share of the Milwaukee Bucks to Cleveland Browns owners Jimmy and Dee Haslam. With the Bucks in a great position and the Browns being bad for years under Haslam’s ownership, is there reason for Bucks fans to worry?
Jimmy Haslam Bucks Offer Accepted by Lasry
It hasn’t even been 48 hours since the accepted Jimmy Haslam Bucks offer and already misinformation is being spread like wildfire. First off, Lasry only owns 25% of the team. While many are panicking about Haslam, the fact of the matter is that Haslam is, at best, a minority owner. While he is the team governor, he’ll likely cede virtually all day-to-day duties to general manager Jon Horst. Oftentimes, minority owners are simply in it for the return on investment as sports franchises continue to rocket in value.
Many fans balked at Lasry’s share being sold with a Bucks valuation of $3.5 billion. Many laughed at how “cheap” the Bucks franchise is. In reality, the total valuation of the Milwaukee Bucks is the second-highest in NBA history. Only the purchase of the Phoenix Suns surpasses the Bucks’ valuation. It would also be the third-highest in all of American professional sports, trailing the Suns and the Denver Broncos’ $4.65 billion valuation last June.
Jimmy Haslam Bucks Deal Yet to Be Approved
The most important thing to remember is that the Jimmy Haslam Bucks deal has yet to be approved. As with all sales, all deals are pending until they get league approval. While there are no signs that the deal would be rejected, there are plenty of steps that have yet to take place before Haslam steps in.
Haslam Will Spend
For as bad as the Cleveland Browns are, it needs to be remembered that Haslam also has a stake in MLS team Columbus Crew. While Haslam hasn’t always spent to the gills for the Browns, he has certainly put his chips on the table when he wants to.
Although you can argue over the optics of Deshaun Watson, you can’t argue that he’s not ready to spend when he wants to. The Browns traded three first-round picks along with two additional picks for Deshaun Watson. They also gave Watson the largest contract in NFL history which includes the most guaranteed money as well.
The Future of the Milwaukee Bucks
While the Cleveland Browns aren’t the face of success, Haslam has done alright with his MLS team Columbus Crew. They made the quarterfinals in the CONCACAF Champions League in 2021 and also won the Campeones Cup.
The Milwaukee Bucks are headed in the right direction. They have Giannis Antetokounmpo and Jrue Holiday locked up for a few years. With those two locked up, the Bucks are in a good spot. In addition, Haslam is clearly tired of losing. Any proud owner would be and his purchase of a team outside of Ohio signals that he means business. As long as Haslam doesn’t take complete control of the team, the Bucks will be completely fine.