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.
Apr 19, 2015, 12:45 AM EDT
Houston outscores Dallas by 14 in 10 minutes with Howard and Harden, get outscored by four otherwise in 118-108 win
Apr 18, 2015, 11:30 PM EDT
Wade has the ability to hit free agency, but is choosing to stay in Miami for at least one more season.
Apr 18, 2015, 9:59 PM EDT
Rose finished with 23 points.
Apr 18, 2015, 9:00 PM EDT
Leaked images are horrible.
Apr 18, 2015, 7:56 PM EDT
Brooks scored 10 points in his first shift.
Apr 18, 2015, 6:39 PM EDT
Golden State, once up 25, escapes with 106-99 win
Apr 18, 2015, 5:00 PM EDT
The basketball was ugly, but this still may be a very competitive series.
Apr 18, 2015, 3:37 PM EDT
Pierce backed up his talk with plenty of action.
Apr 18, 2015, 2:00 PM EDT
They’re still expected to play around 32 minutes each.
Apr 18, 2015, 1:18 PM EDT
Ujiri cusses at a playoff pep rally for the second straight year.
Q&A: Corey Brewer on trade from Timberwolves, his 51-point game, Harden’s MVP case, Rockets vs. Mavericks
Apr 18, 2015, 12:30 PM EDT
Brewer has been a key member of the rotation for the two-seeded Rockets.
Apr 18, 2015, 11:00 AM EDT
Every playoff series is predicted.
Apr 18, 2015, 9:30 AM EDT
How do you feel about a lot of hack-a-Jordan for six or seven games?
Apr 18, 2015, 8:00 AM EDT
With most 2014 conference-finalists eliminated, Warriors are clear favorite
Apr 18, 2015, 12:30 AM EDT
Their rivalry goes back until the Dwight Howard free agent recruitment. If not earlier.
Apr 17, 2015, 11:30 PM EDT
The winner in 7 games will be …
Apr 17, 2015, 10:30 PM EDT
Cuban also says of Houston: “that’s not a very good team over there.”
Apr 17, 2015, 9:30 PM EDT
Can Brooklyn win a game?
Sounds like Pacers president Larry Bird, head coach Frank Vogel don’t want Roy Hibbert back next year
Apr 17, 2015, 8:30 PM EDT
Hibbert has a player option for $15.5 million next season.
Apr 17, 2015, 7:30 PM EDT
Three PBT writers pick the Warrior to beat the Cavaliers in the Finals.
- James Harden and Dwight Howard show Mavericks what they’re missing in Rockets’ Game 1 win 6
- Derrick Rose looks like his old self as Bulls beat Bucks in Game 1 11
- Warriors strong enough to outlast Anthony Davis and Pelicans in Game 1 5
- Paul Pierce leads Wizards to overtime Game 1 win over Raptors 5
- PBT First Round Playoff Previews: Los Angeles Clippers vs. San Antonio Spurs 10
- Why the 2015 NBA playoffs feel wide open – but probably shouldn’t 6
- PBT Extra: Houston, Dallas simply do not like each other 3