Sports owners have 'moral responsibility' to communities: Lasry, Harris

Marc Lasry
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Billionaire investors Marc Lasry and Josh Harris are known for finding undervalued companies and securities and extracting profit from them, sometimes quickly.

But they have a message for potentially nervous fans of the Milwaukee Bucks, Philadelphia 76ers and New Jersey Devils: Their ownership is no strip and flip play.

"We have a moral responsibility to the community," Avenue Capital co-founder Lasry said Thursday at the Bloomberg Sports Business Summit in New York City. "We clearly have an obligation."