Skip to content

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.

Latest Posts
  1. Report: Sixers fighting against immediate changes to NBA Draft Lottery system

    Jul 30, 2014, 10:32 AM EDT

    Sam Hinkie, Nerlens Noel AP

    Sixers put a multi-year plan together based on current rules, which would be adversely affected with a quick change to the system.

  2. Team USA going small ball, but how many bigs do they keep on the bench?

    Jul 30, 2014, 8:40 AM EDT

    Mike Krzyzewski Mike Krzyzewski

    “Everyone talks about match-ups (with big teams such as Spain), people have to match-up against us, too.” — USA Basketball coach Mike Krzyzewski

  3. Report: LeBron James more popular than he ever was with the Heat

    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.

  4. Dion Waiters explains tweet saying he wouldn’t accept bench role

    Jul 30, 2014, 1:30 AM EDT

    2013 Cleveland Cavaliers Media Day 2013 Cleveland Cavaliers Media Day

    Cavaliers guard says initial response stemmed from his straightforward approach, confidence

  5. NBA considering charity All-Star game in South Africa

    Jul 30, 2014, 12:30 AM EDT

    Nelson Mandela Nelson Mandela

    Collective Bargaining Agreement limits offseason charity games to United States and Canada

  6. Report: Gregg Popovich had hip-replacement surgery

    Jul 29, 2014, 10:33 PM EDT

    2014 NBA Finals - Game Five Getty Images

    Popovich signed contract extension with Spurs this offseason

  7. Durant says 2014 USA team better than 2010 version that won gold

    Jul 29, 2014, 9:44 PM EDT

    Image (1) durant_usa_fun-thumb-250x159-20234.jpg for post 4140

    “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

  8. Report: Magic signing Peyton Siva to unguaranteed contract

    Jul 29, 2014, 8:50 PM EDT

    Detroit Pistons v Orlando Magic Detroit Pistons v Orlando Magic

    Orlando reportedly plans to send former Pistons point guard to D-League

  9. 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

    2014 USA Basketball Men's National Team Practice Getty Images

    “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.

  10. Report: Eric Bledsoe-Suns ‘relationship is on the express lane to being ruined’

    Jul 29, 2014, 7:11 PM EDT

    Eric Bledsoe, Jeff Hornacek, Goran Dragic Eric Bledsoe, Jeff Hornacek, Goran Dragic

    Bledsoe reportedly resents how differently Pistons, Jazz and Rockets treated their restricted free agents

  11. Report: Mike Scott considering ‘lucrative’ offer to play in Russia

    Jul 29, 2014, 6:22 PM EDT

    Atlanta Hawks v Indiana Pacers - Game Seven Getty Images

    CSKA-Moscow wants to poach Scott from Atlanta Hawks

  12. Mavericks sign Ivan Johnson

    Jul 29, 2014, 5:37 PM EDT

    Dallas Mavericks v Atlanta Hawks Dallas Mavericks v Atlanta Hawks

    Johnson gets NBA contract after eventful summer league

  13. Report: Timberwolves told Kevin Love to sit out the World Cup

    Jul 29, 2014, 4:55 PM EDT

    Kevin Love Kevin Love

    I’m not sure Love is taking advice from Minnesota right now

  14. Byron Scott makes ridiculous optimism sound reasonable

    Jul 29, 2014, 4:11 PM EDT

    Los Angeles Lakers Introduce Byron Scott Getty Images

    Lakers introduce Scott as new coach in press conference

  15. Derrick Rose told Carmelo Anthony that if he came to Chicago “the game would be easy”

    Jul 29, 2014, 3:24 PM EDT

    2014 USA Basketball Men's National Team Practice Getty Images

    Rose said he was disappointed but he understands ‘Melo’s decision.

  16. LeBron James strips on stage, throws clothes into crowd (video)

    Jul 29, 2014, 2:22 PM EDT

    LeBron James LeBron James

    Want to see LeBron strip down to his underwear?

  17. Steve Nash: ‘I think this is my last season’

    Jul 29, 2014, 1:44 PM EDT

    Steve Nash, Meta World Peace Steve Nash, Meta World Peace

    Lakers guard confirms he’s planning on retirement

Featured video

Why can't Lakers have a player-coach?
Top 10 NBA Player Searches
  1. T. Warren (4918)
  2. L. James (4369)
  3. K. Love (3726)
  4. D. Rose (3365)
  5. R. Allen (3130)
  1. J. Nelson (3036)
  2. C. Anthony (2988)
  3. K. Bryant (2774)
  4. A. Aminu (2131)
  5. C. Boozer (2052)