The NBA Board of Governors has approved the ownership share purchase of the Milwaukee Bucks by Dee and Jimmy Haslam from team co-owner Marc Lasry, it was announced Friday.
The Haslams, who own the NFL's Cleveland Browns, had reached an agreement to purchase approximately 25% of the Bucks from Lasry fr $3.5 billion on Feb. 27, sources told ESPN.
The Haslams, who built their fortune through the Pilot Flying J truck stop chain, will join Wes Edens and Jamie Dinan as co-owners of the Bucks.
Edens, who purchased the team with Lasry in 2014, will serve as Governor of the Bucks for the next five years, succeeding Lasry in that role.