As we all thought would be coming shortly, the NBA Board of Governors approved the sale on Thursday of the Milwaukee Bucks from long-time owner Herb Kohl to Marc Lasry and Wes Edens.
NBA announces Board of Govs has approved sale of Bucks from Herb Kohl to Wesley Edens and Marc Lasry.
— David Aldridge (@daldridgetnt) May 15, 2014
As early as Wednesday afternoon, it was reported via the Milwaukee Journal Sentinel that the process would not only be moving quickly, but that Lasry and Edens were looking to move in as quickly a possible to take over control of the franchise.
A source with knowledge of the sale process said Monday the sale of the Milwaukee Bucks to New York investors Marc Lasry and Wesley Edens “is moving quickly.”
“It’s possible there will be news later this week,” the source said. …
Assuming the sale goes through this week, Lasry and Edens are expected to take control of the team quickly. While they obviously have no control over it, the NBA draft lottery is May 20. That will determine the draft order on June 26.
Their sources were indeed correct that there would be an announcement by the end of the week, as here were are no less than 24 hours later with the transaction being approved.
Lasry and Edens are taking over an organization that is not in the best shape. The Bucks have not had a winning season since the 2009-10 campaign, and this past season they finished just 15-67.