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Milwaukee's Daily Magazine for Wednesday, April 16, 2014

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In Sports

Milwaukee Bucks owner Herb Kohl announced on Dec. 16 that he is seeking investors.

Kohl officially seeks to broaden Bucks ownership group


Milwaukee Bucks owner, Sen. Herb Kohl, issued the following statement this afternoon regarding his role as owner of the franchise.

"When I bought the Milwaukee Bucks back in 1985, it was for one reason—to keep the team here. To this day, that remains a top priority. We are proud to be an NBA city. We are very grateful to our fans and business partners who support us. I am especially proud of the extraordinary people in the Bucks organization who work tirelessly to deliver a good product and great entertainment. The best players in the world perform in our city every year, spreading the names of Milwaukee and Wisconsin around the country and, indeed, around the world.

"Over the next several months I will be considering broadening the ownership of the Bucks as a way to strengthen the franchise and keep it in Milwaukee. I have retained Steve Greenberg, Managing Director of Allen & Company, as my advisor. I have done business with Allen & Co. for over thirty years and they are a great organization. In the event new investor partners are added, they will need to be as committed to keeping the team in Milwaukee as I am.

"In addition to committed ownership, it is imperative that we get to a new 21st century sports and entertainment facility in a timely manner, not only for the Bucks but also for the more than 1.5 million visitors who attend nearly 200 events held there each year."

Kohl followed that up with an email to season ticket holders that read:

"As the longtime owner of the Milwaukee Bucks, I am and have always been dedicated to basketball in our city. When I bought the Milwaukee Bucks back in 1985, it was for one reason-to keep the team here. To this day, that remains a top priority.

"We are proud to be an NBA city. We are very grateful to our fans and business partners who support us. I am especially proud of the extraordinary people in the Bucks organization who work tirelessly to deliver a good product and great entertainment. The best players in the world perform in our city every year, spreading the names of Milwaukee and Wisconsin around the country and, indeed, around the world.

Earlier today, I announced that I am beginning the process of considering broadening ownership of the Milwaukee Bucks as a way to strengthen the franchise and keep the team here.

"In the event new investor partners are added, they will need to be fully committed to keeping the team in Milwaukee, just as I am. We also need to get to a long-term lease in an NBA approved facility to ensure stability and continuity for the future. While it may seem like news, these goals remain consistent with how I have always approached my ownership of the team and our standing in the community."


Talkbacks

Photodavie | Dec. 16, 2013 at 12:57 p.m. (report)

I've got some swamp land in Florida for anyone who wants to invest in something more promising than the Bucks in MKE.

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