NBA Board of Governors approve sale of Bucks

The Sports NetworkMay 15, 2014 

New York, NY (SportsNetwork.com) - The NBA's Board of Governors unanimously approved the sale of the Milwaukee Bucks on Thursday.

The deal, which saw Herb Kohl pass off the franchise to investors Wesley Edens and Marc Lasry for approximately $550 million, was originally consummated on April 16.

"We are pleased that Wes Edens and Marc Lasry have been approved as the new owners of the Milwaukee Bucks," said NBA commissioner Adam Silver. "The Bucks and their fans will benefit greatly from their vast business experience, energy and strong commitment to Milwaukee. I would like to thank Senator Kohl again for his unprecedented and historic financial gift toward the construction of a new Milwaukee arena and for his outstanding service to the league and his community over his nearly 30-year tenure."

In addition to the purchase agreement, Kohl has pledged a $100 million gift for the development of a new arena for the team. The new owners will keep the franchise in Milwaukee and will also contribute at least an additional $100 million toward the arena project.

Modesto Bee is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service