Milwaukee Bucks co-owner Marc Lasry bet on luck for the franchise to win its first title in decades only hours before boarding a private airplane to attend the National Basketball Association’s top event. In the first game of the 2021 NBA Finals, Lasry’s squad will face the Phoenix Suns, and the Bucks will need luck to capture their first title since 1971. Lasry and his team did their lot, investing in a new arena and bolstering the lineup around franchise hero Giannis Antetokounmpo, who had a max contract. The Bucks’ worth has been doubled thanks to the ownership group, which includes Wes Edens and hedge fund manager Jamie Dinan. Lasry contributed $550 million to the purchase of the franchise in 2014. According to Forbes, the club is currently valued $1.62 billion. “Our emphasis has been fairly clear – develop a terrific company,” Lasry said in an interview with CNBC on Tuesday morning, shortly before boarding his private flight to Game 1. “If you do that, everything will fall into place.” But you’ll need a superb organization, which you’ll have to create.” But, in order to win the NBA, Lasry believes the Bucks will need some luck, including in the medical department. Antetokounmpo is still rehabilitating from hyperextending his left knee against the Atlanta Hawks in Game 4 of the Eastern Conference finals. The injury could jeopardize his ability to play in the NBA Finals. When asked if Antetokounmpo would play in Game 1 on Tuesday, Lasry was unsure and stated the final decision would be made by the player and medical staff. Lasry said, “I hope to see him.” “I believe he will participate in the series.” Climbing to the top Lasry also discussed his early days as a sports business owner. He took a gamble on a lesser market NBA team, built a new arena, rebranded the team, and finished the Deer District, a large real estate project surrounding the team’s complex. When it comes to operating a sports team, Lasry says, “you never completely comprehend it unless you go through it.” “It’s difficult to reach the summit. Also, you have to be lucky to get there [the NBA Finals]. You’ll need a lot of hard work, but you’ll also need a little luck.” On rainy days, the Bucks’ old practice facility suffered significant roof leaks, causing personnel to set buckets on the courts. “It was an ancient gym with two courts,” he explained. In 2017, the Bucks got lucky and were able to relocate to a new $31 million facility. However, having Antetokounmpo on the roster was pure luck. Milwaukee Bucks’ Giannis Antetokounmpo Getty Images/Gregory Shamus The only season under Lasry’s ownership group in which the team did not make the playoffs was the 2015-16 season. The Bucks have made the playoffs each of the last five seasons under Antetokounmpo’s leadership, including two visits in the conference finals. Antetokounmpo inked a five-year, $228 million contract extension with the Bucks in December. “Nobody realized how good he was going to be,” Lasry added, adding that he only saw Antetokounmpo’s injury once on replay. When physicians told him he didn’t need surgery, he claimed the team was relieved. Before explaining the obstacles of winning in the NBA, Lasry noted, “We got incredibly lucky that Giannis suffered no structural damage.” When he remembered Game 7 against the Brooklyn Nets, where Kevin Durant nearly ruined the Bucks’ luck, he laughed. “At the end of the day, it’s always some minor detail,” he continued. “It’s the same thing with the Sixers and Raptors — that Kawhi [Leonard] jumper bouncing and then going in.” I believe you require hard work, but I also believe you require some luck.” On July 3, 2021 at State Farm Arena in Atlanta, Georgia, Khris Middleton #22 of the Milwaukee Bucks holds up the Eastern Conference Finals Trophy after the game against the Atlanta Hawks during Game 6 of the Eastern Conference Finals in the 2021 NBA Playoffs. Getty Images/David Dow/National Basketball Association This company is unique. Lasry is the chairman and CEO of Avenue Capital Management, a private equity business. His expertise in business is on Wall Street, but as a sports entrepreneur, he had to discard what he had learnt in the financial sector. Running a sports team requires a different approach, according to Lasry. “Forget everything you’ve done as a business owner; what you’re doing here is doing everything you can to put your team in a position to win.” You’re wasting money, when you’re trying to make money in business.” “At the end of the day, you have to spend money if you want to win,” Lasry concluded. “We’ll be in the luxury tax for us, and we’re aware of it, but our goal is to win a championship.” The only way to get there is to spend money on players that you believe will assist you.” Lasry lauded the franchise’s “mental tenacity” for surviving the previous two NBA seasons, which were marred by the pandemic and societal turmoil. “It was difficult for everyone,” he admitted. “We lost a lot of money as an organization, but we had the mindset that we’d make it up over time.” But the focus was on the fact that life is difficult for everyone, so let’s do what we can to aid as many people as possible in the future.” Lasry admitted to being concerned as his flight time approached, but said that he doesn’t “stress about things I can’t control.” I’m not the one who’s kicking the ball about. I say the same thing to the players. But I believe they’ve had enough of hearing it.” If the Bucks win, it will place Lasry’s front office staff in the limelight even further. In 2017, the Bucks promoted Jon Horst to general manager, and he hired Milt Newton as an assistant general manager. The NBA wants to enhance its diversity, particularly in basketball operations, and Lasry believes Newton deserves another chance. Newton served as the general manager of the Minnesota Timberwolves for a short time. “Milt is fantastic,” Lasry declared. “He’s a smart gentleman who’s done an outstanding job for us.” I hope he gets another chance to be a general manager.” Lasry will become the last NBA owner standing if the Bucks win four more games. Among the other newcomers, including Los Angeles Clippers owner and former Microsoft CEO Steve Ballmer, Philadelphia 76ers’ Josh Harris, and Nets owner Joe Tsai, he’d be the first to win a championship. All of the men bought teams within the last ten years. In addition, Lasry will hoist the NBA’s Larry O’Brien trophy in front of long-time Suns owner Robert Sarver, as the team seeks its first championship. When asked about putting together a championship team, Lasry emphasized, “It’s hard.” “You have to take chances and hope that what you’re producing will be something that people want to be a part of.” And best of luck on your journey./n
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