The NBA has the right to buy back the Milwaukee Bucks from incoming owners Wesley Edens and Mark Lasry if a deal to a bring a new arena to the city is not in place by November 2017, according to sources briefed on the situation.
Sources told ESPN.com that the sale agreement announced last week to transfer the Bucks from longtime owner Herb Kohl to Edens and Lasry for a purchase price of $550 million includes a provision that allows the league to buy back the team for $575 million if construction on a new building in Milwaukee is not underway by the deadline.
Although one source said Monday that the league would likely only take that step if it didn’t see “significant progress” toward a new arena in Milwaukee by then, this provision ensures that the NBA would control the fate of the franchise from that point as opposed to Edens and Lasry.
Chris Paul Says He’ll Pay Green’s Fine for Shove, Ejection
Chris Paul says he will pay any fine that results from teammate Gerald Green shoving Minnesota Timberwolves center Gorgui Dieng in the fourth quarter of the Rockets’ 129-120 win Sunday night.
Green was ejected for coming to Paul’s defense after a frustrated Dieng pushed him down after a foul.
Celtics’ Smart (Thumb) Confident He’ll be Back for Playoffs
Celtics guard Marcus Smart said he’s confident he’ll be back on the court for the postseason after undergoing thumb surgery last week.
Smart suffered a complete tear of the ulnar collateral ligament in his right shooting hand while diving to the floor in a game against the Indiana Pacers earlier this month. A hand specialist in New York advised immediate surgery with hopes that Smart might be able to return even quicker than the six- to eight-week timeline the team announced after surgery.
Source: Chris Forsberg of ESPN