Milwaukee Bucks president and owner Herb Kohl today announced that he has entered into a signed purchase agreement to transfer ownership of the Bucks to Wesley Edens and Marc Lasry. Under the terms of the agreement, Edens and Lasry have agreed to buy the team for a total purchase price of approximately $550 million.
Senator Kohl has pledged a $100 million gift for the development of a new arena for the team. In addition to honoring Kohl’s requirement that the team be kept in Milwaukee, the new owners have committed to contribute at least an additional $100 million toward the development of a new arena in the city.
“My priority has always been and will continue to be keeping the Bucks in Milwaukee,” Kohl said. “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.”
“We would like to thank Senator Kohl and his team for their support and cooperation throughout the purchase process,” Edens and Lasry jointly stated. “The Senator has provided the Bucks with nearly 30 years of dedicated stewardship, and we are very excited to join Bucks fans, the city of Milwaukee and the NBA to build the long-term success of this franchise. Having attended various sporting events in Milwaukee and Green Bay over the years, it is easy to see why the greater-Milwaukee area is such a storied sports atmosphere.”
Bobby Portis Apologizes to Bulls for Mirotic Fight
Bobby Portis has apologized to his Bulls teammates for getting into a fight that left Nikola Mirotic with facial fractures and a concussion. “He didn’t address us today, but he did address the team before so that was taken care of,” Bulls swingman Justin Holiday said after Friday’s practice.
Bulls coach Fred Hoiberg acknowledged that Portis’ apology took place during a team meeting but did not want to go into specific details about his message. “I’ll keep that between the team,” Hoiberg said, “as far as exactly what was said in that meeting.”
Source: Nick Friedell of ESPN
Joel Embiid Still Not Cleared for Back-to-Back Games
Philadelphia 76ers center Joel Embiid said he has not been cleared to play back-to-back games and does not expect to be in the lineup Saturday at Toronto.
Embiid was in the starting lineup for the home opener Friday night against the Boston Celtics, scoring 11 points to go along with 14 rebounds in 28 minutes as Philadelphia lost 102-92. Asked after Friday’s game if he was OK with not playing Saturday night, Embiid replied, “Um I’m not OK with it but we have a plan in place and we have to follow it.”
Dennis Smith Jr. Out for Next Two Games With Knee Injury
Dennis Smith Jr. will miss at least two games due to swelling in the left knee that the Dallas Mavericks’ prized rookie point guard had surgically repaired two years ago.
Smith was a late scratch before Friday’s loss to the Sacramento Kings and will not travel with the Mavericks for Saturday’s road game against the Houston Rockets.
Source: Tim MacMahon of ESPN