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Some Bucks minority owners view Haslam purchase as ‘positive development’ for
franchise





SOME BUCKS MINORITY OWNERS VIEW HASLAM PURCHASE AS ‘POSITIVE DEVELOPMENT’ FOR
FRANCHISE

--------------------------------------------------------------------------------




Ricardo Torres   Milwaukee Journal Sentinel


Milwaukee-area businessman and minority owner of the Milwaukee Bucks, Cory
Nettles, called the addition of Dee and Jimmy Haslam to the ownership group an
“extremely positive development in the history of this franchise.” 



“We have a business that’s working very well. We have a culture that’s very
strong and people should expect to see more of the same,” Nettles said. “Every
franchise needs to say ‘How can we get better?’ And I’m sure the Haslams have
some ideas about how we can get better, as do the current owners ... but people
should assume it’s going to be business as usual or better.” 

On April 14, a deal was approved by the NBA Board of Governors for the Haslam
Sports Group to buy out Marc Lasry’s ownership share for roughly $800 million at
a $3.2 billion valuation, making them a major owner in the Bucks overall.

More: Marc Lasry reflects on his time as Bucks co-owner: 'A phenomenal
experience.'




HASLAMS OWN CLEVELAND BROWNS AND COLUMBUS CREW

With the Haslams coming on board, some Bucks fans are wondering what kind, if
any, impact the new owners will have.



In 2018, the Haslams took over the MLS franchise the Columbus Crew and helped
facilitate a plan to build a new stadium that opened in 2021.

In between the purchase of the soccer team and the opening of the new stadium,
the Crew won the MLS Cup in 2020.



The Haslam's ownership of the NFL's Cleveland Browns has not been as successful
as the Crew. The group has owned the Browns since 2012 and have made the
playoffs only once in 2020.

Last year the Browns signed quarterback Deshawn Watson, who had dozens of sexual
misconduct allegations against him when he played for the Houston Texans. It was
a controversial decision by the franchise and one Haslam said he does not
regret.



Nettles is not worried about any similar controversies coming to the Bucks.  

“Every organization has a culture and that culture gets created over time … no
one individual creates the culture of the organization,” Nettles said. “As
significant an interest as the Haslams are buying, they’re still a minority
owner at the end of the day. They don’t have the controlling interest of the
team, in terms of their ownership. So I don’t have any reason to believe that
they would negatively impact the culture of the organization.” 

Nettles said he met Jimmy Haslam and his son prior to the sale being announced.
Nettles added that a mutual friend of the Haslams reached out to him with
“glowing praise of the Haslam family based upon his personal and professional
experience with them.” 

“From everything I’ve seen and heard, I’m really excited to have them join,”
Nettles said. “I think it says a lot about the value that has been created in
this franchise over a relatively short period of time.” 


POLITICS AND CONTROL OF THE BUCKS

The Bucks, particularly Lasry and owner Wes Edens, have not been shy about their
support for Democratic candidates from the White House down to the local level.
Even Lasry’s son Alex ran to be Wisconsin’s U.S. senator on the Democratic
ticket but lost in the primary last year. 




The Haslams have been major Republican donors for candidates for president and
other public offices. Jimmy Haslam’s brother, Bill, served as Republican
governor of Tennessee. 

And while this might seem like a major shift in political support from Bucks
owners, Nettles said the Haslams' political support “doesn’t concern me.”   

“I have friends in this ownership group and our political views run the entire
spectrum,” Nettles said. “There are people in the ownership group, in the local
ownership group in particular, who supported (Republican Senator) Ron Johnson.
Who served on Ron Johnson’s finance committee.” 

“Whomever the Haslams individually or the family support, that’s their business,
that’s their prerogative, that’s their right and I respect that. We have a range
of political views in our current ownership group. Certainly there have been
some very prominent Democratic supporters, also some very prominent Republican
support.” 




WILL OTHER MINORITY OWNER FOLLOW LASRY AND SELL THEIR SHARES?

Gale Klappa, Bucks minority owner and CEO of WEC Energy Group, said he had two
conversations with Jimmy Haslam when he was considering buying the Bucks.

When asked about the Haslam's record with the Browns and Crew, Klappa said he is
"comfortable with and confident in the ownership structure and management of the
Bucks franchise. I have no current plans to sell my interest in the team."

While Lasry is the only Bucks owner deciding to sell his share of the franchise,
Nettles said fans shouldn’t be surprised if other Bucks owners make a similar
choice.  

“In light of the transaction that just happened, I’m sure that there are other
owners who are evaluating whether they keep all their interest or they sell part
of their interest,” Nettles said. “This is a business decision for all of our
families. So, I don’t know. Certainly, it’s possible that there might be other
transactions with the Haslams or other buyers. I just don’t know.




“When you have a transaction where this much value has been created and people
are making these investment decisions, you can’t be surprised when others decide
to take some chips off the table.” 

In terms of changing control of the Bucks, Nettles said, the owners are “not
having that conversation.” 

“The owners are very pleased with the transaction that occurred, pleased with
the value that’s been created and excited to be owning a team that is, again, a
championship contender,” Nettles said. “This is an exciting time to be an owner
in the NBA generally, but particularly of the championship Milwaukee Bucks. I
think we have to expect that there’s going to be more transactions. Who knows
who and when that will be. I honestly have no idea.” 

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