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NBA Rumors: Multiple groups want to purchase Milwaukee Bucks

Apr 25, 2013; Milwaukee, WI, USA; Milwaukee Bucks fans dance during a pep rally before game three of the first round of the 2013 NBA playoffs against the Miami Heat at BMO Harris Bradley Center. Mandatory Credit: Benny Sieu-USA TODAY Sports

It’s been rumored for months that current Milwaukee Bucks owner Herb Kohl was looking to sell his majority stake in the franchise. He reportedly still wants to be involved with the team, but is looking to downgrade in ownership shares and is looking for partners to help.

Now according to Gery Woelfel of the Racine Journal Times, multiple groups have stepped forward in an effort to purchase the Bucks including a group of businessmen who are attempting to keep the team in Milwaukee.

In regard to the potential sale of the Bucks, I have been told there likely will be four serious suitors who’ll be more than happy to do business with long-time Bucks owner Herb Kohl. One is said to be a consortium of five or six individuals who are from Wisconsin or have Wisconsin ties. Because of the delicate nature of the situation, none of the individuals I spoke with would publicly acknowledge their interest in the Bucks.

Kohl has been adamant that any potential sale would go to a group that would keep the team in Milwaukee as opposed to selling to a group that would like to relocate them.

The Bucks are also hoping to get themselves a new stadium in the new future though would likely need to be sold before anything on that front takes place.

Topics: Herb Kohl, Milwaukee Bucks

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