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Are the Bucks close to being sold?

A report in the Racine Journal-Times is reporting that the Milwaukee Bucks could be in-part sold by owner Herb Kohl.

The report also indicates that while Kohl does not want to fully divest himself of the team just yet, he is open to the idea of relinquishing his controlling stake in the team, provided assurances that the franchise will not move to another city.

Kohl reportedly has already turned down two overtures from out-of-market entities. In 2003, he nearly sold the team to a group headed by NBA Hall of Famer Michael Jordan, only to pull out amid a lack of assurance that Jordan would keep the team in Milwaukee.

Kohl purchased the Bucks from Jim Fitzgerald in 1985 for $19 million. Forbes estimates the team is now worth $405 million.

posted : March, 18th by WSCO

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