It has been nearly a month since word broke that the Milwaukee Bucks were being sold for a $550 million package that included plans to keep the team in Wisconsin, but whispers have circulated that the date by which the final sale would be completed was up in the air amid NBA fears surrounding Donald Sterling. However, those worries have apparently been distinguished.
Brian Windhorst of ESPN reports that the final sale will take place on Thursday:
The $550 million sale of the Milwaukee Bucks to hedge fund billionaires Wesley Edens and Marc Lasry is expected to be finalized by the NBA on Thursday, a source involved in the process told ESPN.com.
The timing of the sale will allow Edens and Lasry to take control of the team before next Tuesday’s draft lottery in New York, which was a priority. The Bucks, at 25 percent, have the highest odds to win the lottery after an NBA-worst 15-67 season. The high draft choice in what is expected to be a deep draft was one of the attractive selling points of the team.
News of the sale being completed on Thursday are a huge win for many reasons, but the biggest of which is referenced by Windhorst above. Milwaukee has a legitimate chance to win the lottery next week, and if they do, the new ownership group would certainly love to put their stamp on things with that type of high visibility.
Regardless of whether that happens, the sale of the Bucks and the allowance of the new owners to keep them in Milwaukee is a great thing. The on-court product has been subpar in recent seasons, but that is a quality fan base, and perhaps a new injection of funds (and vision) will help them right the ship.
Tags: Milwaukee Bucks