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Report: Milwaukee Bucks sale ‘is moving quickly’

May 13, 2014, 8:04 PM EDT

Herb Kohl Herb Kohl

An agreement has been in place for a few weeks now that would see longtime Milwaukee Bucks owner Herb Kohl sell the team to Marc Lasry and Wes Edens for a reported $550 million, but the process can be a lengthy one when considering all that goes into it, along with the league’s approval process.

This particular sale, however, seems to be moving along a bit more expeditiously.

From Don Walker of the Milwaukee Journal Sentinel:

A source with knowledge of the sale process said Monday the sale of the Milwaukee Bucks to New York investors Marc Lasry and Wesley Edens “is moving quickly.”

“It’s possible there will be news later this week,” the source said. …

Assuming the sale goes through this week, Lasry and Edens are expected to take control of the team quickly. While they obviously have no control over it, the NBA draft lottery is May 20. That will determine the draft order on June 26.

This is good news for Bucks fans, because a new ownership group may be more actively engaged in trying to turn the fortune of the franchise around, and getting things finalized before important dates like the draft and the beginning of free agency will only help matters if indeed that’s the case.

The key component in the sale will be the push to get a new arena built in Milwaukee in order to make it stick. The new owners will have until November of 2017 to have a deal in place, otherwise the NBA has the right to buy back the franchise — a strategic move made to ensure the Bucks stay in Milwaukee, which is commissioner Adam Silver’s preference.

The Bucks are coming off a season in which they managed to finish with the worst record in the league, despite the Sixers at one point losing 26 straight games. That’ll give Milwaukee the most ping pong balls in the upcoming Draft Lottery, and with them the best mathematical chance of landing the number one overall pick in this summer’s NBA Draft.

  1. mattbarkley123 - May 13, 2014 at 8:46 PM

    is it just me or is that guy look like he is in nba 2k

  2. fm31970 - May 13, 2014 at 9:28 PM

    Kind of bittersweet to see Kohl’s ownership end, as there will likely never be anyone else more closely tied to WI who would nor could ever own the Bucks. I think think most Bucks fans appreciated his low-key and hands off approach, and while he was never one to throw money around freely, when he had the chance to get George Karl, he sealed the deal, and for that era (and deep playoff run), we will always be thankful.

    Thank you Mr. Kohl.

    • 15412pack - May 13, 2014 at 11:47 PM

      Terrible owner but great citizen of Milwaukee.

      Definitely low key but was not hands off. Meddled in many deals and was shortsighted. Willing to put money down, but the moves usually flopped or fizzled out (Tim Thomas, Michael Redd, Bobby Simmons, etc).

      He left a lot of money on the table by making the new owners needing to keep the team in Milwaukee to keep the team (assuming reports are true). This on top of the $100 million out of his pocket for new stadium.

    • duhwighthoward - May 14, 2014 at 11:27 AM

      Well, they did sign Michael Redd to that max deal. Too bad he got hurt right away.

  3. goldmember21 - May 13, 2014 at 10:48 PM

    The NBA should send this team to the wnba

    • bougin89 - May 14, 2014 at 9:41 AM

      I remember my first beer.

      • fm31970 - May 14, 2014 at 10:03 AM

        Old Style at the MECCA?

      • bougin89 - May 14, 2014 at 10:14 AM

        Yep!

  4. boiler72 - May 14, 2014 at 8:42 AM

    As a Bucks fan, I appreciate Herb keeping the team in Milwaukee, but his leadership skills left much to be desired. The results have spoken for themselves.

    • bougin89 - May 14, 2014 at 9:41 AM

      Same here. I like that Herb is actively trying to keep them in Milwaukee but he wasn’t exactly the best owner.

  5. alexb1234 - May 14, 2014 at 5:42 PM

    that is one creepy looking dude

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