Herb Kohl sells the Bucks for $550M; the team is to stay in Milwaukee
Milwaukee Bucks owner Herb Kohl has sold the team to hedge-fund billionaires Wesley Edens and Marc Lasry for a cool $550M. The sale was made on the condition that the franchise remains in Milwaukee. The Bucks are being sold at a very vulnerable time in their history. They haven’t had a seriously competitive team in a long time and the team at the moment is in shambles. The only thing that could at all brighten the spirits of the Bucks and their fans would be to get the #1 pick in this year’s draft and either get Jabari Parker or Andrew Wiggins.
I’m basically implying that the team’s long-term future in Milwaukee is still shaky, and I think anybody who follows the NBA agrees that it is shaky. Even if this sale is being made on the condition that they stay in Milwaukee, nothing is really ever written in stone anymore. So long as Seattle remains without an NBA team, rumors will swirl about the Bucks heading out there unless a new arena in Milwaukee is built.
But the good news for Bucks fans is that the new owners claim to be committed to getting a new arena to keep the franchise in Milwaukee and that they have no intention of moving the team. Only time will tell if that’s really true, but I suppose the fact that they are saying it right now should give Bucks fans reason for optimism but not enough for there not to be room for pessimism as I just expressed.
—Ben Parker: follow me on twitter @nba_lord