Found April 16, 2014 on Fox Sports Wisconsin:
MILWAUKEE -- An era is officially ending, as Senator Herb Kohl is selling the Milwaukee Bucks after owning the team for 29 years. At a press conference Wednesday at the BMO Harris Bradley Center, Kohl announced he has entered into a purchasing agreement to sell the franchise to New York hedge-fund billionaires Wesley Edens and Marc Lasry. Forbes estimated Lasry to be worth $1.7 billion in 2014, while the publication estimated Edens' net worth at $1.2 billion in 2008. Lasry is the co-founder and chief executive officer of Avenue Capital Group, a private equity investment firm based in New York. Born in Morocco, the 53-year-old came to the United States as a child. Edens, 52, co-founded the investment management firm Fortress Investment Group, LLC. Kohl purchased the team on March 1, 1985 from Jim Fitzgerald for $18 million. The Bucks made the playoffs in 14 of the 29 years Kohl owned the team but only made it out of the first round four times and just once since 1989. Milwaukee h...
THE BACKYARD
BEST OF MAXIM
RELATED ARTICLES

Bucks sign Wright to new deal

The Milwaukee Bucks have signed forward Chris Wright to a multi-year contract, the team announced Tuesday. Wright's new contract will allow him to play in Wednesday's season finale against the Atlanta Hawks and will be non-guaranteed for the 2014-15 season. Signed to two separate 10-day contracts with the Bucks, Wright has averaged 6.0 points and 2.1 rebounds in 15.4 minutes...

New owner means Milwaukee Bucks staying in Milwaukee. Uhm, Yey?

Herb Kohl, Milwaukee Bucks Owner, announced today that he has sold the team to Wesley Edens and Marc Lasry. The new ownership group means that the Milwaukee Bucks, or as I call them “Milwaukee’s Big Ten Team,” are staying put in Brew City? So yey? Excitement? Huzzah? Rejoice? MKE will continue to have a NBA franchise…if we can still refer to the Milwaukee Bucks as an NBA...

Bucks contingent positive after learning of expected ownership change

MILWAUKEE -- By the time Herb Kohl made his way to the Milwaukee Bucks locker room to address his team one last time as owner, the players already had heard the news and watched the press conference. But that certainly doesn't mean the gathering wasn't emotional. When the meeting was done, the Bucks gathered around Kohl and had a team breakdown before preparing for their...

Milwaukee Bucks clinch NBA’s worst record

It has been a season of absolute futility for the Milwaukee Bucks, and after last night’s loss to Toronto, the team officially confirmed its doormat status by clinching the league’s worst record. To many Bucks fans, this is actually good news. By clinching the worst record, Milwaukee now has the best lottery odds of claiming the No. 1 overall pick in this year’s highly touted...

Milwaukee Bucks Sell Franchise To New York Executives For $550 Million

MILWAUKEE — Milwaukee Bucks owner Herb Kohl has reached a deal to sell the franchise to New York investment firm executives Marc Lasry and Wesley Edens for about $550 million. Kohl announced the deal Wednesday at the BMO Harris Bradley Center hours before the team was to play its final game of a dismal season. The deal is subject to approval by the NBA and its Board of Governors...

Milwaukee Bucks to be sold for $550 million, according to report

The Milwaukee Bucks won't be leaving town anytime soon. Longtime owner Herb Kohl has agreed to sell his majority stake in the franchise to Wesley Edens and Marc Lasry, ESPN's Marc Stein reports. Still pending league approval, the deal is worth $550 million and sees the team's first ownership transition in 29 years. Kohl, a Milwaukee native, purchased the Bucks in 1985...

Herb Kohl, new Bucks owners contributing $200 million towards new arena

Milwaukee Bucks owner Herb Kohl announced Wednesday that he has reached an agreement to sell the team to hedge fund billionaires Wesley Edens and Marc Lasry for $550 million. One of the conditions for the sale is that the team needs to be kept in Milwaukee. To that end, Kohl and the new owners have […]

'Greek Freak' shows glimpses of potential in rookie season, must get stronger

ST. FRANCIS, Wis. -- Giannis Antetokounmpo didn't need much time to respond when asked what letter grade he would place on his rookie season.  "D-minus," Antetokounmpo said. "I'm hard on myself."  It wasn't the grade Milwaukee Bucks coach Larry Drew was expecting to hear from the 19-year-old as the team gathered at the Cousins Center on Thursday...

Milwaukee Bucks Being Sold for $550 Million

The plan is to keep them in Milwaukee, we will see how that goes. ESPN has learned Bucks owner Herb Kohl will announce sale of the team later today to Wesley Edens & Marc Lasry for price of $550 milllion — Marc Stein (@ESPNSteinLine) April 16, 2014 Kohl made keeping team in Milwaukee a condition of the sale to the hedge-fund billionaires, whose purchase now subject to league...

Bucks Sign Chris Wright To Multi-Year Contract

The Milwaukee Bucks have signed Chris Wright to a multi-year contract, the team announced Tuesday. Wright had signed two 10-day contracts with the Bucks. Wright has averaged 6 points and 2.1 rebounds in seven games with Milwaukee.

The Bucks: Winning Stops Here ☆

(Derick E. Hingle-USA TODAY Sports) Bad teams are a part of the NBA landscape year after year – it’s a given that there has to be a league wide whipping boy. This year, we were blessed with two terrible squads that garnered most of the negative attention. The Philadelphia 76ers managed to tie an NBA record by losing 26 games in a row but not even that was enough to secure the...

Epke Udoh's book club one of few positives from Bucks' season

MILWAUKEE (AP) -- Epke Udoh will leave one positive lasting impression from this dreary season for the Milwaukee Bucks, and it has nothing to do with basketball. Few, if any, NBA players can say they've started a book club over Twitter. Fewer still probably cite entertainment magnate Oprah Winfrey as a role model. Udoh, a four-year NBA veteran, is thinking big. "I want to...

Bucks Sold For $550M To Edens, Lasry

Herb Kohl has reached a deal to sell the Milwaukee Bucks to Wesley Edens and Marc Lasry for $550 million. Kohl made keeping the Bucks in Milwaukee a condition of the sale. Edens and Lasry are hedge fund billionaires.

A good read: Bucks' Udoh draws fans for book club

MILWAUKEE (AP) Epke Udoh will leave one positive lasting impression from this dreary season for the Milwaukee Bucks, and it has nothing to do with basketball.
Bucks News
Delivered to your inbox
You'll also receive Yardbarker's daily Top 10, featuring the best sports stories from around the web. Customize your newsletter to get articles on your favorite sports and teams. And the best part? It's free!

Today's Best Stuff
For Bloggers

Join the Yardbarker Network for more promotion, traffic, and money.

Company Info
Help
What is Yardbarker?

Yardbarker is the largest network of sports blogs and pro athlete blogs on the web. This site is the hub of the Yardbarker Network, where our editors and algorithms curate the best sports content from our network and beyond.