Hedge Fund Billionaires to Buy NBA's Bucks for $550M

Billionaires Buy NBA's Bucks

Billionaires Wesley Edens and Marc Lasry have agreed to buy the NBA’s Milwaukee Bucks for about $550 million and keep the team in Wisconsin's largest city.But as part of the agreement the Bucks longtime owner and former U.S. Senator Herb Kohl pledged a $100 million gift to be matched by the new owners for the development of a new arena for the team. The deal, which still needs league approval, represents a premium from the $405 million that Forbes valued the team at in January. That is the lowest valuation of any of the NBA’s 30 teams witch in comparison with the $1.4 billion estimated price tag of the New York Knicks.

I think this is a good thing that the buck will stay in the same town abd not move, Because if they would move that could be bad of milwaukee with business. Because im sure that they are ahuge business and money bringer to the town from people coming all over to watch the Bucks play.