Apr 5, 2014; Milwaukee, WI, USA; The Milwaukee Bucks logo on a players shorts during the game against the Toronto Raptors at BMO Harris Bradley Center. Toronto won 102-98. Mandatory Credit: Jeff Hanisch-USA TODAY Sports

Report: Milwaukee Bucks sell for record $550 million; team to stay in Milwaukee

There have been reports swirling for weeks that the Milwaukee Bucks will be finalizing a sale and it appears that it will become official later today. According to Marc Stein of ESPN, Bucks owner Herb Kohl will sell the team for a record $550 million to a group that will be keeping the team in Milwaukee.

That’s not a bad turnaround for Kohl, who bought the Bucks for $18 million back in 1985.

While the new ownership group is reportedly dedicated to keeping the Bucks in Milwaukee, they will need to find a way to get a new arena built. Whether or not that will be possible and how quickly a deal could be reached for a new arena remains to be seen.

Tags: Milwaukee Bucks NBA

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