Longtime Milwaukee Bucks owner Herb Kohl announced Wednesday that he has reached an agreement to sell the team to hedge-fund billionaires Wesley Edens and Marc Lasry for about $550 million. The deal is subject to approval by the NBA and its board of governors.
ESPN has learned Bucks owner Herb Kohl will announce sale of the team later today to Wesley Edens & Marc Lasry for price of $550 milllion
Kohl later confirmed the deal in a statement on the team website:
“My priority has always been and will continue to be keeping the Bucks in Milwaukee,” said Kohl. “This announcement reinforces that Milwaukee is and will continue to be the home of the Bucks. Wes and Marc agree, and they share my commitment to the long-term success of this franchise in Milwaukee.”
Kohl, a longtime senator in the state of Wisconsin, has owned the small-market Bucks since 1985 when he purchased the team in an effort to keep it in Milwaukee. A beloved figure in his home state, the 79-year-old has been staunchly committed to keeping the Bucks in Wisconsin—even as legislature has continually balked on giving the team a new and lucrative stadium deal.
“This has been one of my life-long interests, the NBA and Milwaukee,” Kohl told Charles F. Gardner of the Milwaukee Journal-Sentinelin December. “And there is no way I would allow people under the Milwaukee Bucks tent unless they have full level of commitment to keeping the team here.”
Among the challenges for Edens and Lasry, assuming their purchase is ratified by the league, will be erecting a new building to replace the outdated Bradley Center.
The Dallas Mavericks have struck a free-agent deal with guard Monta Ellis, according to sources close to the process.
Sources told ESPN.com that the Mavericks and Ellis have agreed to terms on a three-year deal that—depending on where Dallas ends up in terms of salary-cap space as it works on a number of deals—could rise to as high as $30 million.
The deal, at the minimum, will be in the $25 million range, sources said.
The 27-year-old Ellis turned down $11 million in June, choosing instead to opt out of the last year of his deal with the Milwaukee Bucks and test free agency.
Ellis joins point guard Jose Calderon and former Mavericks guard Devin Harris as free-agent signees in Dallas’ overhauled backcourt.
In his 2012-13 campaign Ellis had one of his worst seasons of his NBA career. He averaged 19.2 points (lowest full-season average since 2008-09) on 41.6 percent shooting (lowest since 05-06) and 28.7 percent shooting from beyond the arc (lowest since 07-08).
Larry Sanders scored 17 points, took 11 rebounds and blocked two blocks during the Bucks loss to the Wizards Wednesday night. Late in the 4th quarter, Sanders was called for an offensive foul when John Wall stepped in to take a charge. Sanders got animated and argued the call which earned him two technical fouls and an ejection. Sanders laughed and gave all three referees the thumbs up on his way to the locker room. Not only did Sanders willingly leave the court, but he smiled and gave the referees a positive hand gesture.
Sacramento Kings bad boy DeMarcus Cousins remains the most talented loose cannon in the NBA. During the third quarter of Sunday’s Kings – Bucks game, Mike Dunleavy Jr. tried to box out DeMarcus Cousins. Dunleavy got low and it resulted in him taking Cousins, Drew Gooden and Jason Thompson to the ground. Cousins rolled around in pain before jumping up looking for the culprit. Cousins needed to be escorted back to the bench where he could calm down.
Too bad nobody can tame the beast that is DeMarcus. He continued to stew on the bench during the timeout. When the teams went back to the floor, Cousins went up to Dunleavy to tell him what was on his mind.
This resulted in a double technical foul. Seconds later the ball was inbounded, Dunleavy and Cousins got “tangled” up and Cousins hit Dunleavy with an elbow in the back of the head. He was tossed after that.
The ejection was his league-leading third. At the time of the ejection, Cousins had 24 points on just 12 shots to go along with 10 rebounds.