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.
Jan 25, 2015, 4:00 PM EST
Dragic can opt out this summer.
Jan 25, 2015, 2:44 PM EST
He would be back for training camp next season.
Jan 25, 2015, 2:00 PM EST
They need a Brandon Jennings replacement.
Knicks’ Lance Thomas travels, double dribbles and steps out of bounds without any call from the officials (VIDEO)
Jan 25, 2015, 12:30 PM EST
Two referees failed to blow the whistle, despite multiple violations occurring in the same sequence.
Jan 25, 2015, 11:00 AM EST
Both players successfully tricked the referees into calling a foul.
Jan 25, 2015, 9:30 AM EST
He’s just 23 behind Jason Terry for third most on the All-Time list.
Jan 25, 2015, 8:00 AM EST
He hd 26 points and 9 boards. That brace worked out pretty well.
Jan 25, 2015, 1:01 AM EST
Can we just get through the rest of this season without any more major NBA injuries, please?
Jan 24, 2015, 11:00 PM EST
Brad Stevens reportedly likes Prince, so a buyout may not be in the cards.
Derek Fisher didn’t realize motivating his players would be such a big part of being an NBA head coach
Jan 24, 2015, 9:30 PM EST
Fisher played 18 years, and claims that his motivation always came from within.
After being fined for obscene gesture, Dwyane Wade asks NBA to improve on ways it protects players from fans
Jan 24, 2015, 8:00 PM EST
Wade was fined for flipping off some fans who he believed crossed the line.
Jan 24, 2015, 6:30 PM EST
“He had his chance to reach out,” Waiters said.
Jan 24, 2015, 5:00 PM EST
Howard left the game after just eight minutes and did not return.
Jan 24, 2015, 3:17 PM EST
Aldridge has a tear in his left thumb, and was originally set to be sidelined 6-8 weeks.
Jan 24, 2015, 2:00 PM EST
Drama in Dallas?
Jan 24, 2015, 12:30 PM EST
The inside access here makes this a must-watch.
Jan 24, 2015, 11:00 AM EST
Before recent trades, players believed the team would go no further than the second round of the playoffs.
Jan 24, 2015, 9:30 AM EST
Green was completely amazed, just like the rest of us.
Jan 24, 2015, 8:00 AM EST
That is as good a step-back jumper as you will see.
Jan 24, 2015, 2:00 AM EST
There are $25 million Kobe will be back next season.
- Brandon Jennings leaves game in wheelchair, may have torn Achilles 8
- LaMarcus Aldridge decides to delay surgery, will return for Blazers Saturday vs. Wizards 7
- WATCH: Kobe Bryant’s doctor explains diagnosis to him following exam of injured shoulder 10
- Report: Cavaliers players say they ‘had lost faith’ due to lack of depth and roster construction 45
- Kobe Bryant will be back next season, he can’t resist the challenge 20
- Klay Thompson sets NBA record with 37 point quarter (VIDEO) 36
- If injury is serious, it would go against history for Kobe to be productive again 17
- Sixers’ leading scorer Tony Wroten suffers partially torn ACL, likely done for season 12