One of the world’s largest sports empires is about to make its mark.
Jimmy Haslam and Dee Haslam, owners of Haslam Sports Group and owners of the NFL’s Cleveland Browns and MLS’ Columbus Crew, have agreed to purchase 25% of Mark Rusley’s Milwaukee Bucks. The deal would value the Bucks at about $3.2 billion, according to people familiar with the transaction. Sportco first reported Haslam’s interest in the Bucks about two weeks ago.
Bucks games will be televised locally on Bally Sports Wisconsin, part of the cable network’s Diamond Sports Group. Still, the $3.2 billion deal would value the Bucks at about nine times what they earned last season. paid out $550 million, or just five times the return.
The structure of the contract is highly unusual. Specifically, Bucks co-owner Edens managed the team for his five years, after which Haslam ran the Bucks for his five years. His only other NBA team with a similar type of rotation control is the Philadelphia 76ers, where Josh Harris and David Blitzer swap top his seats.
The $3.2 billion valuation is $900 million more than the Bucks’ valuation in late October. If the deal is approved by the NBA, the value of Haslam’s sports investment will increase by $800 million to $5.63 billion, between the Benson family ($5.69 billion) and the Guggenheim, Haslam Sports Group It ranks 15th on the Sports Empire list. Baseball Management ($4.92 billion).
forbes My colleague Diane Brady and I are discussing growing a sports empire. this video.