Bucks co-owner Marc Lasry is actively looking to sell his stake in the franchise, Marc Stein reports on Substack.
Stein referenced the possibility of a shake-up within the Bucks’ ownership group earlier this week, writing that “whispers have been circulating with increasing frequency” that Lasry could be open to selling his share of the team. His latest report suggests in strongest terms that it’s something to keep a close eye on in 2023.
Sources tell Stein that Lasry may end up selling his stake to his co-owner, Wes Edens, which would allow Edens to assume full controlling ownership of the franchise.
However, Lasry is also open to other options, according to Stein, who notes that The Ringer’s Bill Simmons recently reported on his podcast that Mat Ishbia spoke to Lasry about purchasing his stake in the Bucks before reaching an agreement to buy the Suns from Robert Sarver.
The Suns’ sale to Ishbia has led to speculation that we could see more NBA franchises – or minority stakes – change hands in the near future. The Suns were valued at $4 billion in that sale agreement, well above the $2.7 billion estimate Forbes published in the fall. With a new media rights deal around the corner and the possibility of expansion looming, the prices of NBA teams appear to be on the rise, which could make it a good time for current majority and minority stakeholders to cash out.
Forbes valued the Bucks at $2.3 billion in October, but presumably Lasry would be able to secure a higher valuation if he were to sell his portion of the team. He and Edens – along with a handful of minority investors, including Jamie Dinan – purchased the club from Herb Kohl for a reported sale price of $550MM in 2014.