Milwaukee Bucks sold

I was just about to post this.

CRAZY. I wonder who is getting a new NBA team?

I see Seattle jumping on this for sure. Kansas City and Louisville right behind them.

 

Seattle with Alphabet as their star?

 

I bet somebody somewhere is having a serious bout of buyers remorse at the moment. It's like buying that 70 inch when you already owned a 65.

 

Somebody got screwed.

 

And the owners keep trying to make us believe they are losing money, yet the value of their franchise licenses are golden. True valuation of any company must take into account the value of all assets. The franchise license is an asset. None of them are losing value in their company.

Kohl, a Milwaukee native, purchased the Bucks in 1985 from Jim Fitzgerald for $18 million

Despite those recent struggles and a bottom-five ranking in attendance in each of the past three seasons, Simmons reports that the team is expected to be sold for $525-550 million. In January, Forbes magazine valued the Bucks at $405 million [a whopping 25% underestimate by Forbes]​

 

How long do they have to keep the team in Milwaukee? Can the move after X number of years?

 

None of the two co-buyers (Wesley Edens & Marc Lasry) had any ties to Milwaukee. In fact, Edens had ties to Oregon since he went to school there.

I wonder if that stay-in-Milwaukee condition has an out clause or time constraint, if an arena deal can't be done. Or, since these two aren't able to move the Bucks, can they theoretically flip it to Chris Hansen and Steve Balmer for $700 Million, and make $150 Million in quick return?

 

The NBA aren't going to let the OKC deal happen again. They will go out of their way to keep a team where it is. Look at Sacramento.

Do you really think The NBA is going to let balmier and Hansen make a fool out of them by using your theory? The NBA will vote down relocation faster than you can say flop.

 

I believe their Bradley Center lease runs out in 2017 and Silver has stated that a new arena is a "must" for the team to remain in Milwaukee. However, I've read that the tax increase passed to fund Miller Park was unpopular and there is almost no political support for local or statewide funding to keep the Bucks in Milwaukee.

The fact that this team sold for as much as it did should tell you that owners pleading poverty in order for cities to fund new arenas is as much as a lie now as it ever was. Cities with dire economic problems, such as Milwaukee, should be praised for not ceding public funds to private teams owned by billionaires who are helping to shell out over $500 million for the team.

 

Are you kidding? The NBA ENCOURAGED the OKC "wink-wink" deal. It was a message to the rest of the NBA cities: Give the owners public financing for an arena, or lose your team. It doesn't matter how long they've been there, how big your city is or how dedicated your fan base.

 

the thread is a bit misleading - I thought this was sold as in the sale already happened and someone bought it. I got this news before I saw the thread lol

 

That's what I was going to say. If the NBA didn't like the move to OKC, they could have stopped it. The buyer, the seller and the rest of the NBA were all fine with sticking it to Seattle. I won't be surprised when the same happens to Milwaukee.

 

The backlash was unprecedented and the NBA has been working hard to correct the wrong. Again, look as Sacramento. Look at every opportunity they gave the city to get a new owner who would keep the team there. The Maloofs had to sell for less than they would have to Hansen and Co. Hansen and Co lost $30 million in that deal.

 

What the hell Milwaukee can no longer support a team. Their economics have changed over the years.

 

The Austin Bucks?

 

Good deal. What a bargain.

 

I think somebody from Craigslist bought it

 

No new city is getting a team before Seattle.

 

Lets see if the new owners follow the Bennett playbook.

rabble rabble new arena rabble rabble.