Stein: Wesley Edens & Marc Lasry will purchase Milwaukee Bucks for $550 milllion

According to ESPN’s Marc Stein, Milwaukee Bucks owner Herb Kohl will announce today that the team has been sold to billionaires Wesley Edens and Marc Lasry.

The Bucks have announced a press conference for 2:30 PM (CST) at the BMO Harris Bradley Center.

Edens and Lasry were brought to the forefront of the conversation regarding potential new owners for the Milwaukee Bucks last week when Grantland’s Bill Simmons outed them as the favorites. In the days following, reports continued to swirl about potential groups, one from Chicago and more talk about local groups, but it appears Edens and Lasry have won out.

Stein’s report says keeping the team in Milwaukee was a condition of the sale.

Categories: Ownership

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12 Comments

  1. What sort of connection do these guys have with the Bucks? Or even Milwaukee? Just two rich guys who want to own a team? I don’t think either of them are from the great state of Wisconsin.

    • You could say the same about Mark Antanasio, and that seems to have worked out alright for the Brewers.

      • That’s what I was thinking. I just would hate to see the team get pushed out in a couple years. Hope for the best!

  2. Does anyone know if they are required to keep the team for a set number of years? I don’t want them to turn around and sell the team in a few years to Seattle

    • By all accounts, these sound like two super-competitive billionaires worth a truck load who want to own a team and are willing to do what’s necessary to make it happen (i.e. stay here). Neither comes from the world of venture/vulture capital, either, so a quick flip doesn’t seem to be an issue.

      Save Our Bucks has a couple pretty good profiles on them, if you want to track them down.

  3. The firing of John Hammond MUST be the first order of business for the new owners, THANK GOD!!!!

    • Have to imagine they’re getting this taken care of now so that Hammond and Drew can be jettisoned and new guys can be in place before the draft and FA processes begin in earnest.

      • I wouldn’t do it till after the draft. That’s the one thing Hammond is good at and has been scouting the players all year. New guys wouldn’t have as much scouting on the players as Hammand and his crew do. I would keep him till after the draft if you are going to clean house

  4. The big question hopefully answered today is how much $ Kohl will pledge towards a new area. No new arena- no Bucks past 2018-2019.

    Other than that, shortly there will be a huge front office clean house and then on to prepare for the draft.

    That’s just the way it works with new ownership. they’ll bring in their own people.

  5. Although I’m still cautiously waiting to see how all of this plays out, I want to sincerely thank Herb Kohl for any and all genuine efforts to keep the Bucks in Milwaukee. Thank you, Mr. Kohl.