Bucks Sold For Record $550M, Won’t Leave Milwaukee
(1090 The Fan) — Seattle SuperSonics fans shouldn’t be pumping their fists just yet as a reaction to the sale of the Milwaukee Bucks.
Despite the franchise having the worst record in the NBA (by nine games) at 16-66 and poor attendance (averaging less than 14,000 per game), Bucks’ owner Herb Kohl’s explicit conditions to the buyers of the team was for the franchise to remain in Milwaukee.
The soon-to-be new owner of the Bucks is a hedge fund group headed by Wesley Edens and Marc Lasry.
“My priority has always been and will continue to be keeping the Bucks in Milwaukee,” said Kohl in a statement. “This announcement reinforces that Milwaukee is and will continue to be the home of the Bucks. Wes and Marc agree, and they share my commitment to the long-term success of this franchise in Milwaukee.”
Along with selling the team, Kohl has pledged $100 million to assist in building a new arena for the franchise in Milwaukee.
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