Report: Bucks to announce sale of team

From NBA.com staff reports

The Milwaukee Bucks face an uncertain future — as detailed here by our own Jon Hartzell — as current owner Herb Kohl seeks a new owner who will help keep the team in town and secure a new arena to replace the dilapidated BMO Harris Bradley Center.

A new arena for the Bucks remains up in the air, but it looks like a new owner may be on board. ESPN.com’s Marc Stein first reported today that Kohl has reached an agreement to sell the team to a pair of investors:

The Milwaukee Bucks will announce later Wednesday that longtime owner Herb Kohl has reached an agreement to sell the team to Wesley Edens and Mark Lasry for a purchase price of $550 million, according to sources familiar with the transaction.

Sources told ESPN.com that the deal, subject to league approval, will be confirmed in an afternoon news conference.

The Bucks have a news conference scheduled for 3:30 p.m. ET today, presumably to announce this transaction.

27 Comments

  1. Jetsetlife says:

    Would make sense to bring the team outside the border. Vancouver, Edmonton and Calgary are good markets in western Canada.

    Apart from Toronto the west is a untouched market for basketball in Canada. We saw how the Grizzlies made more money in Vancouver then they are currently in Memphis.

    Edmonton is putting up a brand new arena in the core of downtown. Any of these markets would be good in the sense of revenue and fan loyalty. Look at Toronto as an example; They are the only Canadian team making above average revenue in the Eastern League. I can’t see why a organization would not work in Western Canada where the average income is higher than Ontario.

  2. I guess the Bucks got tired of the team that players use as bait to get their trade value up! Or a place that houses players that no one else wants! Check out HeKnowsHisSport’s youtube page: http://www.youtube.com/channel/UCKyTFOwWTESEo0Y3AxKaV5g

  3. Daniel says:

    I would love to see a team in Vancouver. Taxes aren’t the problem it is perceived to be. It is just not popular like Toronto (which is one of the biggest sports markets in the league) because it isn’t an American team. I think lots of the Raptor players appreciate playing in Toronto when they realize what a nice and metropolitan city it is. If basketball was played in the summer Toronto would be very popular possibly. For those that don’t realize this it gets really hot there in the summer. Very Humid, but Southern Ontario is really nice in the spring, summer and fall. Mostly though the problem is simply the stigma of not being an American City…and a losing tradition. Both are gorgeous cities. But, I don’t see a team ever returning to Vancouver. If a team goes anywhere I agree with what most of you are saying. That is it will be the Supersonics returning to Seattle. Never should have left. Orlando better look out.. They are for sale I believe and their fan support is transient, no? Meaning it relies on lots of vacationers. Atlanta and Memphis don’t do great for attendance either and they are teams that have been making the play-offs lately. Because of heritage I would like to see Bucks stay put but really Seattle is a more appropriate choice if you were starting from scratch. The attendance is a sad thing in Philadelphia. I heard a while back of a move scare there but the owner says don’t worry about that. If I recall fans were worried he would move the team to New Jersey. Is that right? That would be tragic if the 76′ers left. Anyways, I am Canadian and if any pro teams return here I first hope for the Expos and second that Quebec City gets its Hockey Team Back. Also, the Sabers should really play out of Copps Coliseum in Hamilton. For those that don’t know its practically Toronto. Toronto could support like two or three hockey teams. Honestly. If they didn’t have such a strong cap in hockey they’d be spending like the Yankees. Buffalo, claims Southern Ontario as is territory in a disputed scenario with the Maple Leafs. If not for Niagara Canada the Sabres would be in trouble. But really it would be more fair for the team to be in Canada because those fans would rather it be that way and it would be closer to the Mega Toronto hockey fan base. Also, and importantly to me at least is that Canadians supporting sports should have their money being inputted into their economy. All, I have left to say is, lets go Raptors! Long time coming and the good BBall fans here deserve it.

    • Daniel says:

      Oh yeah one more thing that maybe some bball fans down south don’t realize. The Maple Leafs own the Raptors and all that extra money they can’t spend on the Maple Leafs means they can go well over the cap in Basketball and I mean like LA, NY and Brooklyn style when they get the right players together. The also own the football club their (and I mean soccer). Leiweke just spent a fortune on them so trust me its true what I say about the Raptors. I don’t know soccer but the signings are a big deal in that sport I hear. Raptors will be a continually and relatively successful team eventually. Nice it started this year. They’ll never be leaving.

  4. Midwesta says:

    u cant have our bucks!

  5. teapotkid says:

    Vancouver Bucks makes more sense than the Utah Jazz.

  6. teapotkid says:

    Seattle Bucks makes just as much sense as the Utah Jazz.

  7. jon says:

    Bring them too Rockford il

  8. Vancouver!!!!! we missed nba.:(

  9. I was born and raised in Milwaukee, and to tell you the truth they ain’t really done anything big to remain a franchise. A new arena will help ( I remember when the Bradley Center was built) to keep them there but I like the move to Seattle deal. The city has more jobs and money ( thanks Super Bowl Champs Seahawks ). If they do move, I hope they become the New Supersonics. Bucks sound like a midwestern animal name.

  10. Frank says:

    There A Slum they should just stay were they are

  11. Victor says:

    Bring them to Yakima Wa

  12. esejv says:

    We want the bucks to relocate and come to seattle wa okay cuz seattle is the best place for a slum like the bucks

  13. Chris says:

    Uh-oh. Big O won’t be happy if the team moves elsewhere. There’s a lot of history there.

    But at the same time, a move to another city would be interesting. Most likely it stays in Milwaukee, but a move to Seattle or Vancouver would be awesome. I’ve predicted a Bucks franchise move to Seattle for years.

    But, please, if it does move, change the name. Seattle Bucks or Vancouver Bucks makes no sense.

    • T-Goose says:

      Either does the Los Angeles Lakers….

      Keep the name. History.

    • johnG says:

      everyone is complaining about the utah jazz and lakers not making sense and don’t want to keep the name if they move, but have you been to either seattle or vancouver? both cities have deer, which in turn would have bucks….

  14. no_lpogs says:

    Please.. Canada… get another franchise.. Edmonton, Vancouver, Calgary

  15. truenorthball says:

    vancity should get the bucks!!

  16. Craig says:

    If a group in Seattle would buy the Bucks and they would move Timberwolves as a result to the Eastern Conference, I would be soooo happy!

  17. djMamba says:

    someone in Vancouver buy it!!!!