Cleveland Browns owners buy shares in Milwaukee Bucks

The Board of Directors of NBA approved the transfer of shares of the Milwaukee Bucks in the hands of Dee and Jimmy Haslam, the AP reports.

Here is the official press release from the @Bucks on the NBA Board of Governors approving the ownership share purchase by Dee and Jimmy Haslam: pic.twitter.com/bmvdyCrQpW

— Eric Nehm (@eric_nehm) April 14, 2023

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According to reports in February, the Haslam family, who own the Cleveland Browns of the National Football League, purchased a 25 percent stake in the Bucks from Mark Lasry. At the time, the deal was said to be worth $3.5 billion.

Wes Edens, who purchased the Bucks in 2014 along with Lasry, will succeed him as team president for the next five years. The third major shareholder in Milwaukee is Jamie Dinan.

“On behalf of Jamie and the entire ownership group, I welcome Dee, Jimmy and the Haslam family to the organization,” Edens was quoted as saying by local media.