May 13, 2014, 8:04 PM EDT
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.
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.
Jul 30, 2014, 10:32 AM EDT
Sixers put a multi-year plan together based on current rules, which would be adversely affected with a quick change to the system.
Jul 30, 2014, 9:55 AM EDT
This was 100 percent guaranteed.
Jul 30, 2014, 9:18 AM EDT
Hayward set to earn $62,965,420 over next four years
Jul 30, 2014, 8:40 AM EDT
“Everyone talks about match-ups (with big teams such as Spain), people have to match-up against us, too.” — USA Basketball coach Mike Krzyzewski
Jul 30, 2014, 8:00 AM EDT
LeBron still not as popular as prior to The Decision, though. It’s only a matter of time until he is.
Jul 30, 2014, 1:30 AM EDT
Cavaliers guard says initial response stemmed from his straightforward approach, confidence
Jul 30, 2014, 12:30 AM EDT
Collective Bargaining Agreement limits offseason charity games to United States and Canada
Jul 29, 2014, 11:33 PM EDT
Union voted in Michele Roberts instead
Jul 29, 2014, 10:33 PM EDT
Popovich signed contract extension with Spurs this offseason
Jul 29, 2014, 9:44 PM EDT
“That 2010 team was one of the best experiences I’ve ever had. I think we have a team that’s even better.” —Kevin Durant
Jul 29, 2014, 8:50 PM EDT
Orlando reportedly plans to send former Pistons point guard to D-League
Kevin Durant knows you’re talking about his free agency but isn’t giving many clues. He liked what LeBron did.
Jul 29, 2014, 7:51 PM EDT
“I just tell everybody that I’m here in Oklahoma City, I love it here. Who knows what will happen.” —Kevin Durant on his 2016 free agency.
Jul 29, 2014, 7:11 PM EDT
Bledsoe reportedly resents how differently Pistons, Jazz and Rockets treated their restricted free agents
Jul 29, 2014, 6:22 PM EDT
CSKA-Moscow wants to poach Scott from Atlanta Hawks
Jul 29, 2014, 5:37 PM EDT
Johnson gets NBA contract after eventful summer league
Jul 29, 2014, 4:55 PM EDT
I’m not sure Love is taking advice from Minnesota right now
Jul 29, 2014, 4:11 PM EDT
Lakers introduce Scott as new coach in press conference
Jul 29, 2014, 3:24 PM EDT
Rose said he was disappointed but he understands ‘Melo’s decision.
Jul 29, 2014, 2:22 PM EDT
Want to see LeBron strip down to his underwear?
Jul 29, 2014, 1:44 PM EDT
Lakers guard confirms he’s planning on retirement
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