Report: Kohl to sell Bucks

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 4/16 1:25 pm

Milwaukee, WI (SportsNetwork.com) - The Milwaukee Bucks have announced a major news conference for Wednesday regarding ownership of the franchise and reports have indicated that Herb Kohl is set to sell the team with the NBA's worst record.

According to ESPN, hedge-fund billionaires Marc Lasry and Wesley Edens are set to purchase the club from Kohl for $550 million.

Kohl had announced in December a search for additional investors. A condition of a potential sale would be the club remaining in Milwaukee.

According to the Milwaukee Journal-Sentinel, Lasry is the CEO and co-founder of Avenue Capital Group and Edens is the cofounder of Fortress Investment Group LLC.

Kohl purchased the Bucks in 1985 from Jim Fitzgerald for $18 million. The former U.S. Senator from Wisconsin had detailed sale discussions with a group led by Michael Jordan in 2003, but decided to keep the franchise.

The Bucks entered the last day of the regular season with the NBA's worst record at 15-66.

Share
Gulfport
33° Clear Feels Like: 33° F
High: 58° F
Low: 32° F
Wind: Calm


Inergize Digital This site is hosted and managed by Inergize Digital.
Mobile advertising for this site is available on Local Ad Buy.
Persons with disabilities who need assistance with issues relating to the content of this station's FCC public inspection file should contact: WXXV TV Attn: Bobby Edwards 14351 Highway 49 Gulfport, MS 39503 Phone: 228-831-5200 Email: bedwards@wxxv25.com or Donna Ingram Phone: 228-831-5201 Email: dkgingram@wxxv25.com. To view our public file, visit the 'About WXXV' link at the top of this page. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 1-888-225-5322 or fccinfo@fcc.gov.

Copyright © 2014 WXXV-TV and Morris Networks of MS All Rights Reserved