Bucks still have for sale sign out
At a recent Milwaukee Bucks game at the BMO Harris Bradley Center in Milwaukee, I ventured over to chat with Herb Kohl, who was sitting in his customary seat at midcourt, just a few rows off the floor.
No sooner had I approached the former U.S. Senator and Bucks owner, when he quipped, “What’s the latest rumor?”
Funny he should ask. After all, the hottest rumor making the rounds is that Kohl is seriously contemplating selling the Bucks. Yeah, there have been whispers of Kohl selling the team or taking on additional partners for years.
But the chatter among NBA insiders has intensified in recent months with many believing Kohl could sell the team outright or bring on board a partner who would eventually become the Bucks’ primary owner.
One well connected individual who has his finger on the pulse of the Bucks’ ownership situation insisted just a few weeks ago that Kohl would sell his NBA franchise, which he has owned since March 1985, to Michael Heisley, a billionaire from Chicago.
Heisley owned the Memphis Grizzlies until selling it in June for approximately $370 million. The scuttlebutt was that talks between Heisley and Kohl were at the advanced stage and a deal could go down as early as next month.
But when recently asked about buying the Bucks, Heisley said, “It’s a false rumor.” Some Heisley associates said Heisley has deep concerns about the viability of the Bradley Center, which opened in 1988. Additionally, I was told Heisley had inquired about the availability of the Minnesota Timberwolves.
While Heisley was — and perhaps still is — the front-runner to buy the Bucks, there’s another prominent person who reportedly has more than a passing interest in the Bucks. That’s Mark L. Attanasio, the Los Angeles-based investor who is the majority owner of the Milwaukee Brewers.
According to some sources, Attanasio has become increasingly fond of Milwaukee. His continual involvement in local activities strongly suggest that being the case.
Attanasio is also part owner of the Milwaukee Admirals, an American Hockey League team, and was a major sponsor in the Andy Warhol exhibition at the Milwaukee Art Museum.
Three longshot candidates who would certainly have the resources, but bring the moving trucks with them are Chris Hansen (Seattle) and a group of investors from Louisville, and Kansas City. Seattle have the tenacity to pursue the Bucks, but no arena. Louisville and Kansas have the arenas, but no lead deep pocketed investor.
But I think its highly improbable that the Bucks are sold to someone who would relocate them.
Kohl, who is incredibly guarded about his personal dealings, has been mum about any potential sale. Instead, Kohl said he still derives much pleasure from owning the Bucks and now that his senatorial duties are done, intends on being even more involved with the team.
And that may indeed occur. But Kohl turned 78 in February and, rest assured, has given considerable thought to his own welfare and that of the Bucks. As such, some of his confidantes claim they wouldn’t be surprised if he passes on the Bucks’ torch sooner rather than later.
The decks certainly have been cleared for a change in Bucks’ ownership. General manager John Hammond is a “lame duck.”
Yet, there have been rumblings Hammond may actually receive an extension — whether Kohl is or isn’t the majority owner next season. While the Bucks have made the NBA playoffs just once in the last four seasons under the Hammond regime, Hammond was the 2010 NBA Executive of the Year and is highly respected by his peers. Hammond refused to comment on whether there have been any talks about an extension for him. The Bucks have made a promising start to the 2013-14 season and Hammond might be rubbing his hands in anticipation of getting that extension.
I'd imagine it's a little difficult to win games without a true point guard, but 18-17 is pretty solid so far.
