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Milwaukee's Daily Magazine for Saturday, Oct. 25, 2014

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In Sports

The deal between Wes Edens, left, Herb Kohl and Marc Lasry, right, will be approved by the NBA board of governors on May 15. (PHOTO: David Bernacchi )

NBA votes to approve sale of Bucks


The sale of the Milwaukee Bucks from Herb Kohl to two New York hedge fund managers is now only a few small steps from completion after a committee of the NBA Board of Governors approves the transfer today.

According to a source with knowledge of the timeline, the official closing of the deal to Wesley Edens and Marc Lasry for $550 million is scheduled for Friday, however.

Edens and Lasry will take control of the team before next Tuesday's NBA Draft lottery in which the Bucks have the best chance to get the first draft pick.

It's expected that the next steps will be the decisions current Bucks' personnel and the continuing activity to find ways to build a new arena. Both Edens and Lasry are expected to take an active role in those discussions.


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