Milwaukee Bucks to be Sold, will stay in Milwaukee

Later today, the Milwaukee Bucks will announce that the longtime owner, Herb Kohl, will be selling the team to Wesley Edens and Marc Lasry. The billionaires are paying $550 million. Forbes had listed the team's value at $405 million in January so this is definitely a much larger number than initially expected. One of the catches of the sale, though, is that the Bucks are to remain in Milwaukee. Another catch could leave Kohl with a significant percentage of the team still, although relinquishing majority control to the two new buyers. Finishing with the worst record in the NBA this season, the Bucks certainly have some work to do in order to fulfill the expectations of the fans, but one of the more important improvements would be building a new arena in Milwaukee to replace the Bradley Center. The current arena is outdated and it would be good for the fans and team to have a new home for their Bucks. The search for new owners that wouldn't move the team was a tough one, but it finally resulted in this positive conclusion that will keep the team in Milwaukee. There is a great chance that the Bucks will earn the No. 1 pick in the NBA draft, so getting a new young player could also be a big rejuvenation to the team and the city. We'll see what kind of impact the new owners will have on the team and how everything will work out in Milwaukee.