HoopsHype Milwaukee Bucks rumors

Milwaukee Bucks highlights

April 18, 2014 Updates

Dallas Mavericks owner Mark Cuban considers the sale price of approximately $550 million for the Milwaukee Bucks to be a bargain, suggesting the true value of NBA franchises is north of $1 billion. Longtime Bucks owner Herb Kohl announced Wednesday that he had reached an agreement to sell the team to hedge-fund billionaires Wesley Edens and Marc Lasry, a deal subject to approval by the NBA and its board of governors. "I think they got off cheap," Cuban said. "I think that was a bargain. I think it's worth a lot more. I think it's worth a lot more than that. I think someone got a bargain. You can't look backwards. You've got to look forward. You don't value teams based off what happened in the past." ESPN.com

April 17, 2014 Updates

The ownership change creates plenty of uncertainty for the Bucks management team led by general manager John Hammond and the players and coaching staff. Hammond and coach Larry Drew both have two years remaining on their contracts, and the Bucks are coming off the worst season in franchise history — a 15-67 effort that has earned the team the best chance in next month's NBA draft lottery of landing the No. 1 pick. "It's life; it's a business," Kohl said. "They understand. Whether we have new management, I would have the same choices to make (if he had remained team owner). "I hope good things happen for everybody, but you're running a business. It involves making choices. By the way, it's never come up. Milwaukee Journal-Sentinel

Edens said pending league approval of the purchase, he and Lasry would begin to speak with the basketball staff and others in the organization. "It's Day 1 for us," Edens said. "And it's a process. We've had a lot of experience in investing in various businesses and successful ones are run by great organizations. We're all about hiring the right people and having the right people in place. "We think there are a lot of terrific people in the organization. We haven't really spent any time assessing people in the organization in any meaningful way. We're going to figure it out." Edens said, "Obviously there's a big draft coming up and there's a talent assessment going into that." "We'll start immediately but it becomes in earnest once we have closed on the transaction." Milwaukee Journal-Sentinel

April 16, 2014 Updates

Bucks owner Herb Kohl was well past retirement age and realized it was time to secure the future of the franchise. He had one big caveat for any potential investors: Keep the team in his hometown of Milwaukee. And he found a buyer. The former U.S. senator is banking on New York investment firm executives Marc Lasry and Wesley Edens to follow through after agreeing to sell them the Bucks for about $550 million. The deal is subject to approval by the NBA and its board of governors. "I wasn't going to live forever. I've approached a time in my life where I have to think about ... how do we think about succession," Kohl, 79, said Wednesday at a news conference in the atrium of the BMO Harris Bradley Center. The deal was announced hours before the team was to play its final game of a dismal season. USA Today Sports

The Milwaukee Bucks won’t be moving any time soon. Today, Herb Kohl reportedly sold the Bucks to hedge fund billionaires Marc Lasry and Wesley Edens for $550 million. Bidding for the team has been open since December, and rumors circulated that the Seattle duo of Steve Ballmer and Chris Hansen were interested in purchasing the team. However, Kohl made a condition of the sale that the team would stay in Milwaukee. The Fields of Green

Forbes recently listed the Bucks as the least valuable franchise in the NBA at $405 million, which means the team sold for a 36 percent premium on their valuation. The Bucks are in the smallest market with one of the worst arenas in the NBA, so why were billionaires lining up to buy the NBA’s least valuable team? The Fields of Green

One reason is that NBA teams have cost certainty until 2017 based on the most recent collective bargaining agreement (CBA). There is a slim chance the CBA could last until 2022. However, that is doubtful due to the NBA’s upcoming new media deal driving up the valuation of small-market teams, such as the Sacramento Kings and (drum roll) the Bucks. The Fields of Green

THE TOP 50 PLAYERS
IN BUCKS HISTORY
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Kareem Abdul-Jabbar is No. 1 in a list filled with old-school players at the top.

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