Tag Archives: Herb Kohl

The Bucks Don’t Stop Here

This is New York Knicks territory. But in one house on Beachside Avenue, Milwaukee Bucks jerseys may soon be in vogue.

Hedge fund titan Marc Lasry — whose $1.7 billion fortune lands him at #1047 on Forbes’ list of the world’s billionaires — is one of 2 men hoping to buy the hapless NBA team. (How bad are they? Their 15-67 record this year was even worse than the 37-45 Knicks’.)

Marc Lasry. (Photo/Avenue Capital Group)

Marc Lasry. (Photo/Avenue Capital Group)

Lasry — a low-key financier, but also a prodigious Democratic fundraiser — and fellow Wall Streeter Wesley Edens have offered longtime owner Herb Kohl $550 million for the Bucks. The 4-term Democratic Senator from Wisconsin bought the team in 1985 for $18 million (about $40 million today), according to the New York TimesThe sale must be approved by at least 23 of the 30 NBA owners.

But don’t expect to see the Bucks in Webster Bank Arena. Lasry and Edens have pledged to keep the team in Milwaukee.

Thankfully.

Milwaukee Bucks