For nearly 30 years, the Milwaukee Bucks were owned by Herb Kohl. Kohl was a prominent United States senator and head of the famed Kohl's chain of department stores. Though he would continue to be closely associated with the franchise, he eventually sold his majority stake.
The new ownership group would be a successful one. The Bucks have become one of the National Basketball Association's preeminent organizations. Including earning the 2021 NBA Championship. Among the ownership group members is Moroccan-born billionaire Marc Lasry. Lasry and his sister, Sonia Gardner, founded the investment firm Avenue Capital Group.
He also owns a number of pieces of real estate in Milwaukee. But he might not have his stake in its NBA team for much longer.
Reaches agreement with Jimmy and Dee Haslam
Husband and wife duo the Haslams, Jimmy and Dee, are set to purchase Lasry's stake in the Bucks. ESPN reports that the Haslams would as a result hold approximately a quarter of the franchise's shares. Current estimations place the Bucks as being the third-highest valued professional American sports team in history.
The sale would need league approval to become official, as noted by Forbes. If it does, the Haslams would join a batch of Bucks owners that includes Wes Edens, Jamie Dinan and Mike Fascitelli. Edens co-founded Fortress Investment Group.
He's also a significant figure in European soccer, co-owning Aston Villa of the English Premier League and Vitoria S.C. of Portugal's Primeira Liga. Dinan created York Capital Management and Fascitelli is a former CEO of Vornado Realty Trust.
It's unclear if Marc Lasry's son, Alex, would stay on in his role as a senior vice president with the team.
Alex Lasry also unsuccessfully sought the Democratic nomination for one of Wisconsin's U.S. Senate seats in 2022.
In 2008, Jimmy Haslam bought a minority stake in the Pittsburgh Steelers of the National Football League. Shortly after, the Steelers notched a Super Bowl victory. He later sold his Steelers stake, but would stay involved with the NFL.
He and Dee would purchase the Cleveland Browns. Their ownership tenure of the Browns has thus far not had the same level of success as the Steelers had. And has stirred controversy along the way.
But the Haslams have had much more success in Major League Soccer, in which they lead the current ownership group of the Columbus Crew. Under the group's ownership, the Crew won the MLS Cup in 2020 and the Campeones Cup in 2021.
The Haslam family has also been involved in business and politics
Jimmy Haslam's father created what was to be the Pilot Corporation. It started as a single gas station southwestern Virginia. Now, it includes multiple brands, such as Pilot Flying J, currently the biggest truck stop chain in the United States.
Jimmy Haslam would join the family business, eventually becoming the chairman of the board. His younger brother, Bill, would also be an active player in the company. The younger Haslam became president of Pilot before moving on to other businesses.
Bill Haslam was elected to two terms as mayor of Knoxville, Tennessee, followed by two terms as governor of Tennessee. He would also become the co-owner of the Minor League Baseball team Tennessee Smokies. Haslam currently additionally holds a minority stake in the National Hockey League's Nashville Predators. He is set, however, to become its majority owner by 2025.
