Milwaukee Bucks co-owner Marc Lasry has completed the sale of his 25% stake in the franchise to Cleveland Browns owner Jimmy Haslam for an amount of $3.5 billion, as reported by the journalist from The AthleticShams Charania.
Lasry and Haslem reached the agreement last February, after which it has received approval from the NBA Board of Governors. In doing so, Haslam will join the Bucks ownership group along with co-owner Wes Edens.
While they are focused exclusively on the playoffs, Haslem’s arrival comes with several big issues that will plague the organization through the offseason, primarily when it comes to roster construction.
At 31 years of age, Khris Middleton has a player option worth $40.4 million for next season. If he decides not to exercise that option he would become a free agent. Defender of the Year candidate Brook Lopez, Jae Crowder and Joe Ingles will also be free agents. Various information suggests that renewing Lopez is the highest priority for management.
Retaining these players will take the Bucks well above the luxury tax. Those of Wisconsin have committed 156.7 million for the next campaign in only eight players if the options of Middleton and Jevon Carter are considered as exercised.
Over the past five years, Bucks owners have ratified their stance that they’ll pay the luxury tax if the team has ring aspirations. However, that bill it has never been as big as what they could afford next season. Thus, we will have to wait and see how the new co-owner Haslam will act in this type of scenario.
(Cover photo by Stacy Revere/Getty Images)
