On the latest Sporticast episode, hosts Scott Soshnick and Eben Novy-Williams speak with Marc Lasry, co-owner of the Milwaukee Bucks, about the the team’s recent NBA championship.
Lasry and his partner Wes Edens led the group that purchased the Bucks for $550 million back in 2014. At the time it was the highest price ever paid for an NBA franchise, and many inside the industry thought the group paid too much. Seven years later, the Bucks are worth $1.86 billion, according to Sportico‘s most recent numbers. Lasry talks about the logic behind the purchase, particularly regarding his belief that the NBA’s national media rights were in for a massive increase.
The Bucks’ NBA title, Milwaukee’s first in 50 years, will help boost the club’s season ticket sales, Lasry said. That’s particularly important this year after the team lost some season ticket holders due to the COVID-19 pandemic. He also discusses other business ramifications, from sponsorships to the competition amongst jewelers jockeying to make the team’s official championship ring.
Lastly, the trio discuss the influx of private equity money in global sports. Lasry is CEO and co-founder of Avenue Capital Group, and he lends his thoughts on how institutional investors view a league like the NBA.
This episode is presented by Marsh, a global leader in risk management. Click here to read Marsh’s full report on safely re-opening stadiums.
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