May 13, 2014, 8:04 PM EST
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.
Dec 22, 2014, 3:51 PM EST
Trail Blazers move up to second.
Dec 22, 2014, 3:05 PM EST
Boston might try to re-trade point guard acquired in Rajon Rondo deal
K.J. McDaniels’ mom yells at his teammates for dunking rather than passing, shooting free throws too slowly
Dec 22, 2014, 2:15 PM EST
Ms. McDaniels brings some fun to the 76ers-Magic game
Dec 22, 2014, 1:38 PM EST
Each reported suitor has an in with former Pistons forward
Dec 22, 2014, 1:01 PM EST
Maybe Dalembert wanted to get ejected so he didn’t have to watch any more of the Raptors easy win over the Knicks.
Dec 22, 2014, 12:21 PM EST
Pistons use stretch provision on forward owed more than $35 million
Dec 22, 2014, 11:55 AM EST
Will LeBron receive more cheers or boos?
Dec 22, 2014, 11:22 AM EST
In a Philadelphia win!
Dec 22, 2014, 10:29 AM EST
Magic guard avoiding sophomore slump of other top 2013-14 rookies
Dec 22, 2014, 9:39 AM EST
Philadelphia will waive Turiaf, who’s injured and out for season
Dec 22, 2014, 9:00 AM EST
Byron Scott can tell Kobe to rest, but it will be Kobe’s decision. Kobe has the power in that relationship.
Dec 22, 2014, 8:30 AM EST
Dec 22, 2014, 8:00 AM EST
No deal for Stephenson is happening anytime soon.
Dec 22, 2014, 1:43 AM EST
Quality win for LeBron James and the Cavaliers as well.
Dec 22, 2014, 12:39 AM EST
The seas part and Rudy Gay had a path to the rim.
Dec 21, 2014, 11:00 PM EST
The Cavs beat the Grizzlies in Cleveland.
Dec 21, 2014, 9:30 PM EST
Of course he said he’d consider the Knicks, it’s just smart business.
Dec 21, 2014, 8:00 PM EST
Rose has been there before.
Dec 21, 2014, 6:30 PM EST
The very public meeting with Jackson was leverage to help get Karl to lower his asking price.
Dec 21, 2014, 5:00 PM EST
Stevens dismisses rumors of Indiana University.
- PBT’s weekly NBA Power Rankings: Santa brings Warriors top spot, lump of coal for Knicks 0
- Clippers, Mavericks, Rockets and Kings reportedly interested in signing Josh Smith 10
- Pistons release Josh Smith. WHAT? 51
- Lakers may give Kobe Bryant some nights off to rest. If he wants them. 25
- PBT’s Sunday Night Winners/Losers: Anthony Davis is playing like an MVP 13
- Sources: Kings prefer George Karl, not serious about hiring Mark Jackson 8
- Nuggets Danilo Gallinari has meniscus tear in right knee, out three weeks after surgery 7
- Rajon Rondo was very Rondoesque in debut with Mavericks (VIDEO) 20