Eleven years ago, Jimmy Haslam bought the Browns for roughly $1 billion. He’s now buying a fourth of the Milwaukee Bucks for nearly as much.
Per multiple reports, Haslam and his wife, Dee, will buy the portion of the Bucks owned by Marc Lasry.
The headlines are confusing, creating the impression that the Haslams have bought the full team for $3.5 billion. The truth seems to be that they’re buying Lasry’s portion at a valuation of $3.5 billion.
If, as it appears, Lasry owned 25 percent of the team, the Haslams are paying 25 percent of $3.5 billion, or $875 million.
We’ve asked the Browns to confirm this calculation. A team spokesman has not yet responded to the request.
The numbers, if accurate, demonstrate the significant ongoing growth in the value of pro sports franchises. And if the Bucks are worth $3.5 billion, what are the Browns now worth?
Hint: A lot more than $1 billion.
Meanwhile, the Haslams are now business partners with Packers quarterback Aaron Rodgers, who owns one percent of the team. At the new valuation of $3.5 billion, his stake is worth $35 million.
