The Bucks will attempt to win their first NBA championship since 1971 and first under new owners, including private equity tycoon Marc Lasry.
Hours before he was to board a private flight to attend the National Basketball Association’s top event, Milwaukee Bucks co-owner Marc Lasry bet on luck for the team to land its first championship in decades. Lasry’s team will play the Phoenix Suns in the 2021 NBA Finals in the first game Tuesday, and the Bucks will need continued good fortune to win their first title since 1971. Lasry and company did their part – spending to build a new arena and enhancing the roster around franchise star Giannis Antetokounmpo, who was locked up with a max contract. The ownership group, including Wes Edens and hedge fund manager Jamie Dinan, double the Bucks ‘ value. In 2014, Lasry chipped in to purchase the franchise for $550 million. The team is now worth $1.62 billion, according to Forbes. “Our focus has been pretty simple – build a great organization,” Lasry told CNBC in an interview Tuesday morning just before boarding his private flight to Game 1. “If you do that, things will work out. But you need a great organization, and you need to build it.” But to conquer the NBA, Lasry said the Bucks need a little luck, including in the health department. Antetokounmpo is still recovering from hyperextending his left knee in Game 4 of the Eastern Conference finals against the Atlanta Hawks. The injury could impact his status to begin the NBA Finals. Asked if Antetokounmpo would play in Game 1 on Tuesday, Lasry was uncertain and said the player and medical staff would have the final say. “I hope to see him,” Lasry added. “I think he will play in the series.” Scaling the peak Lasry also reflected on his early stages as a sports owner. He took a chance on a smaller market NBA club, secured a new arena, rebranded the team and completed the Deer District, a massive real estate project that surrounds the team’s complex. “You never fully appreciate it until you go through it,” said Lasry about the journey of running a sports team. “It’s hard to scale that peak. And also, to get there [the NBA Finals], you have to be lucky. You need an exceptional amount of hard work, but you also need some luck.
