Kohl apparently has reached a deal to sell the Bucks

[Markedman]

Hope these guys honor the agreement to keep the team in Milwaukee………It worked with Attanasio but non local hedge fund guys make me nervous….


Marc Stein ‏@ESPNSteinLine 7m
Kohl made keeping team in Milwaukee a condition of the sale to the hedge-fund billionaires, whose purchase now subject to league approval
Details
Marc Stein ‏@ESPNSteinLine 10m
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

[MU/Panther]

I don't think it's about honor, it's in the contract.

[Markedman]

Yeah I know….but contracts can be bought out……Gato might have some insight on this but it has happened before IIRC

[TheSultan]

Good. I think Kohl and Selig shared ideas of how to be bad team owners while roommates at UW.

[Goose85]

Now that a sale appears to be on the table, time to line up funding for the new complex.

Cement Kohl's legacy and keep the team in Milw.

Might be nice for MU to sell recruits on playing in the newest state of the art NBA facility.

[Nukem2]

Now that a sale appears to be on the table, time to line up funding for the new complex.

Cement Kohl's legacy and keep the team in Milw.

Might be nice for MU to sell recruits on playing in the newest state of the art NBA facility.

Well, that's a ways off....

[Goose85]

[/B]Well, that's a ways off....

Sure it is a long way off, but it will really be a big plus for MU.

If they would be lucky enough to have a new facility in 6 years (break ground in 3 to 4 years), a recruit like Flory would play two years in the new facility.

[Goose85]

If Kohl is putting $100 mil and the new owners are putting $100 mil toward a new facility, how much money would it take to build a new facility?

[Cooby Snacks]

If Kohl is putting $100 mil and the new owners are putting $100 mil toward a new facility, how much money would it take to build a new facility?

Probably at least $400 million total. The proposed arena in Seattle is quoted at about $490 million, for the sake of comparison.

[MKE_GoldenEagleFan]

I believe they said $500 million is what Kohl said today... That means the city would need to pony up $300 million ... Not gonna happen.

[mufansince72]

I believe they said $500 million is what Kohl said today... That means the city would need to pony up $300 million ... Not gonna happen.

I think both the new owners and Herb end up kicking in more. Jane Pettit donated announced a 40 million dollar gift for the Bradley Center, that more than doubled before the project was done. I would support a tax for a minority share of the costs. I think this will be tied into other projects such as the Wisconsin Center District. They have taxing authority and don't need to pass anything to raise taxes.

[Alan Bykowski, "brewcity77"]

Last I heard, Kohl might be giving significantly more than people expect him to give. I'm sure it won't cover total costs, but I have a feeling this won't cost taxpayers what people are estimating right now.

[Markedman]

Last I heard, Kohl might be giving significantly more than people expect him to give. I'm sure it won't cover total costs, but I have a feeling this won't cost taxpayers what people are estimating right now.


He announced today that he is giving 100 million....if he was giving more you would think he would have just gone ahead and announced it today.....

[MU/Panther]

Last I heard, Kohl might be giving significantly more than people expect him to give. I'm sure it won't cover total costs, but I have a feeling this won't cost taxpayers what people are estimating right now.
Bingo. Look for this to be done by private investors.

[MKE_GoldenEagleFan]

In the end I'd imagine some more private investors will come around, Kohl will donate more, the new ownership will go in more, and the city will give some... No way the city drops $300 mill though.

That said I am hopeful for MU's sake it gets done, would be amazing.

[Cooby Snacks]

Any chance the major MU benefactors kick in a little something? Obviously a new downtown arena would be a huge benefit to our program.

[TheSultan]

Any chance the major MU benefactors kick in a little something? Obviously a new downtown arena would be a huge benefit to our program.


With everything the University needs money wise, I would hope this would be at the bottom of the University's priorities. The BC is just fine as a college arena.

[Markedman]

I believe they said $500 million is what Kohl said today... That means the city would need to pony up $300 million ... Not gonna happen.

Might be other sources....don't jump to conclusions.....

Attansio has already said he would make a contribution...naming rights can be sold......other business money can come in......MU could make a contribution.....

Lot's of things could happen.........

[MU/Panther]

No word on BMO Harris.

[MU/Panther]

With everything the University needs money wise, I would hope this would be at the bottom of the University's priorities. The BC is just fine as a college arena.

I don't think any of that is the case.

While I don't think MU or the Admirals will put money into building a new arena, they are heavily involved. The Bradley Center is not fine as a college arena. Too many upper deck seats with no leg room for starters.

[TheSultan]

I don't think any of that is the case.

While I don't think MU or the Admirals will put money into building a new arena, they are heavily involved. The Bradley Center is not fine as a college arena. Too many upper deck seats with no leg room for starters.


In the grand scheme of University priorities, I think the Bradley Center is fine. I would hope that the University would ask its benefactors to focus on endowment, academic capital needs, etc. Would it be nice for Marquette? No doubt. But significant charitable assets would be better spent elsewhere.

[MKE_GoldenEagleFan]

Might be other sources....don't jump to conclusions.....

Attansio has already said he would make a contribution...naming rights can be sold......other business money can come in......MU could make a contribution.....

Lot's of things could happen.........


Sorry I should have clarified... I think the new arena will eventually be built, however the city won't fund the majority of it, if that ends up the case it won't happen... Sorry about that, that's what I get for not re reading what I wrote

[mutpm]

Might be other sources....don't jump to conclusions.....

Attansio has already said he would make a contribution...naming rights can be sold......other business money can come in......MU could make a contribution.....

Lot's of things could happen.........

I think there is little to no chance MU puts in any contribution to a new arena. After eliminating over 100 employment lines 2 months ago, donating to a new arena would look really bad.

[Alan Bykowski, "brewcity77"]

He announced today that he is giving 100 million....if he was giving more you would think he would have just gone ahead and announced it today.....

That's what I get for writing all day (sadly not for this site) and not paying attention :D

[Goose85]

I think there is little to no chance MU puts in any contribution to a new arena. After eliminating over 100 employment lines 2 months ago, donating to a new arena would look really bad.

While MU may not donate directly, major MU donors may. One of the biggest supporters of MU athletics is not an MU grad, and may be more inclined to support a Milwaukee initiative like a new arena, than an MU initiative for the engineering school or overall endowment, etc.

[mutpm]

While MU may not donate directly, major MU donors may. One of the biggest supporters of MU athletics is not an MU grad, and may be more inclined to support a Milwaukee initiative like a new arena, than an MU initiative for the engineering school or overall endowment, etc.

I could see that, but he may be the only significant MU donor that could give a meaningful gift to a project like this and not have an affect on MU fundraising.

[Nukem2]

Maybe the hedge fund guys could sell minority interest in the Bucks to guys like Attanasio, etc. and use the proceeds toward the new facility......sell 49% for $250 million....

PS, surprised Kohl is only offering $100 million. Not like he needs much to support himself and he is a bachelor.

[mutpm]

It's tough to rip a guy that commits $100 million, but I'm going to. It's been public knowledge that Kohl was going to put in something for the new arena, but we never knew how much. It was also speculated that the Bucks would sell for $400 million at most. Given that Kohl made $100 million more than originally expected, I would have thought he would/could kick in a little more. With that said, it's an unbelievably generous gift and I'm hoping the rest of the money will be committed and the new arena can be built.

[Goose85]

It's tough to rip a guy that commits $100 million, but I'm going to. It's been public knowledge that Kohl was going to put in something for the new arena, but we never knew how much. It was also speculated that the Bucks would sell for $400 million at most. Given that Kohl made $100 million more than originally expected, I would have thought he would/could kick in a little more. With that said, it's an unbelievably generous gift and I'm hoping the rest of the money will be committed and the new arena can be built.

I think at the end of the day Kohl very well may kick in more. I think he will first need to see what the plan is, and what type of additional funding they can generate with naming rights, other private investors, corporate sponsors, etc.

[Gato78]

The sale price of the Bucks does not indicate cash in pocket to Kohl. Purportedly there was about $300 million in debt accumulated over the years.

[MU/Panther]

I heard Kohl didn't have debt, that the Bucks made money.

[MU/Panther]

It's tough to rip a guy that commits $100 million, but I'm going to. It's been public knowledge that Kohl was going to put in something for the new arena, but we never knew how much. It was also speculated that the Bucks would sell for $400 million at most. Given that Kohl made $100 million more than originally expected, I would have thought he would/could kick in a little more. With that said, it's an unbelievably generous gift and I'm hoping the rest of the money will be committed and the new arena can be built.
I thought the number would be $225 million. I also thought the most he could get for the Bucks to stay in Milwaukee is $325 million.

Selling the Bucks for $550 is shocking! What could the Lakers and Heat get?

[TheSultan]

I thought the number would be $225 million. I also thought the most he could get for the Bucks to stay in Milwaukee is $325 million.

Selling the Bucks for $550 is shocking! What could the Lakers and Heat get?


The next television contract for the NBA is going to be big...very big. There have been suggestions that it could be an 80%+ increase over it's current one.

[Nukem2]

The next television contract for the NBA is going to be big...very big. There have been suggestions that it could be an 80%+ increase over it's current one.
Who watches the NBA. I havenot watched an NBA game in many years.

[MUMac]

Who watches the NBA. I havenot watched an NBA game in many years.

I wondered the same. I do not remember the last game I watched. I really do not care for the league or brand of basketball.

[TheSultan]

A lot of people watch the NBA. I usually don't watch much during the year, but I love the playoffs. IMO much better basketball than the NCAA.

[CaribouJim]

A lot of people watch the NBA. I usually don't watch much during the year, but I love the playoffs. IMO much better basketball than the NCAA.

I love both - watch about 2-3 NBA games a week and the intensity of the NBA playoffs, especially in the later rounds, is very entertaining. These guys are the best athletes in the world IMO.

First thing I do each morning when reading the paper is checking out how all the MU NBA guys did the night before.

I don't watch the over-hyped NFL draft, but always try to watch the NBA draft from start to finish regardless if an MU guy(s) are possible picks.

[Markedman]

I heard Kohl didn't have debt, that the Bucks made money.

I think Kohl said the bucks are currently making money(with the help of the new CBO)…..I think it is common knowledge that they lost money for many years.

Not sure how much debt they have but I’m sure they have some

[Goose85]

Interesting article on the economic impact of the NBA all star game in Orlando.

The study indicates the overall impact was more than $95 million.

If we build it will they come? While I am personally not a big fan of the NBA all star game, it is a big deal from which one event illustrates what an impact a new facility could have for Milwaukee.

Add that to the potential impact of larger conventions and I can see why it is expected some tax money should be forthcoming.


http://www.nba.com/magic/news/2012-nba-all-star-weekend-economic-impact-more-95-million

[MUAlphaBangura]

I love both - watch about 2-3 NBA games a week and the intensity of the NBA playoffs, especially in the later rounds, is very entertaining. These guys are the best athletes in the world IMO.

First thing I do each morning when reading the paper is checking out how all the MU NBA guys did the night before.

I don't watch the over-hyped NFL draft, but always try to watch the NBA draft from start to finish regardless if an MU guy(s) are possible picks.

Don't you have to service your many super model friends first before checking the sports page?

[CaribouJim]

Don't you have to service your many super model friends first before checking the sports page?

That goes without saying.

[GOMU1104]

Interesting article on the economic impact of the NBA all star game in Orlando.

The study indicates the overall impact was more than $95 million.

If we build it will they come? While I am personally not a big fan of the NBA all star game, it is a big deal from which one event illustrates what an impact a new facility could have for Milwaukee.

Add that to the potential impact of larger conventions and I can see why it is expected some tax money should be forthcoming.


http://www.nba.com/magic/news/2012-nba-all-star-weekend-economic-impact-more-95-million

Even with a new arena, I think it will be a tough draw...Milwaukee in the middle of winter? I doubt it.

[pbiflyer]

Even with a new arena, I think it will be a tough draw...Milwaukee in the middle of winter? I doubt it.

Downtown Orlando is a pretty thriving area anyway. Was there recently on a Tuesday night. Bars and restaurants very crowded.
Not sure how accurate the 95 million number is, since it is pretty full to capacity in winter on a normal weekend.

[Markedman]

http://www.jsonline.com/news/milwaukee/new-bucks-owners-say-theyre-committed-to-bucks-and-downtown-b99251170z1-255890681.html

[Markedman]

Marc Stein ‏@ESPNSteinLine 34s
ESPN learns of clause in Bucks sale to let NBA buy team back in 2017 if no new arena in MIL (with @WindhorstESPN): http://es.pn/1rgp00J

[Alan Bykowski, "brewcity77"]

Wow...that's an incentive for the new owners. Basically "keep the team in Milwaukee or lose your team".

[Markedman]

Wow...that's an incentive for the new owners. Basically "keep the team in Milwaukee or lose your team".

an incentive for the team and the city..................I think these guys will get it done one way or another......They didn't go through all of this to give the team back in 3 years.

[TheSultan]

Wow...that's an incentive for the new owners. Basically "keep the team in Milwaukee or lose your team".


It doesn't require a purchase. It lets the team be purchased by the NBA. The NBA could always decide not to exercise that option.

[Alan Bykowski, "brewcity77"]

It doesn't require a purchase. It lets the team be purchased by the NBA. The NBA could always decide not to exercise that option.

No, but we know the NBA wants a team in Seattle badly. I have a feeling if the stadium isn't in the works they'll be lining up a new address for the Bucks.