Milwaukee Bucks co-owner Marc Lasly has agreed to sell his portion of the Bucks franchise to Cleveland Browns owners Jimmy and Dee Haslam for a reported $3.5 billion valuation, according to ESPN.
Pending league approval, the deal would be the second-highest valuation ever for an NBA team, just behind the recent purchase of the Phoenix Suns for $4 billion by Mat Ishbia from Robert Sarver earlier this month, and would also be the third highest for any American professional sports team.
Lasry is in discussions to create a sports investment fund inside his existing investment firm, Avenue Capital.
The Haslams purchased the Browns franchise from Randy Lerner for a little over a billion dollars back in 2012, and also bought the Columbus Crew MLS franchise in 2019.
