Terry Stotts Press Conference

Bucks owner Herb Kohl seeking new investors to keep the team in Milwaukee


Bucks fans will spend the next 2-3 years looking over their shoulders at Seattle, and that’s because they’re in jeopardy of losing their basketball team should owner Herb Kohl fail at securing a new NBA-approved arena.

For small and mid-markets, having a state-of-the-art arena to maximize revenues is a requirement and any city that isn’t willing to make that type of commitment to the NBA will be threatened by 5-10 other cities that are dying to get into the game. It’s simple supply and demand.

Kohl, the former Democratic senator who is 78, is reportedly looking for other investors to join him in his attempt to keep the team in Milwaukee.

With a net worth that’s better described with an ‘M’ for millions rather than a ‘B’ for the billionaire owners that the NBA is attracting these days, it’s understandable why Kohl needs to deepen the pockets and broaden the influence of his group.

First and foremost he needs to deliver on an arena, and having more investors will help that along in many ways. But just as important to Milwaukee will be the overall value proposition this ownership group will have to the NBA, whether Kohl wants to continue as owner of the Bucks or not. That’s because if there ever comes a time when their arena plans are in doubt, it will be this group that gets measured against Seattle and any other city that wants to get into the game.

The NBA, whether being led by Adam Silver or David Stern, does not like to relocate franchises. In this day and age of information, the damage that relocation can do their brand is much greater than it was when Seattle’s elected officials told the NBA to go kick rocks and thus Sonicsgate was born.

At the same time, the NBA has found a sweet spot in its public subsidy pitch, which has been the target of many economists’ ire over the last 30 years when suburban arenas were all the rage. Economists have maintained that arenas don’t increase local spending because of things like the substitution effect, which simply stated means that people spend money at the game but stop spending their limited funds everywhere else. In essence, they contend, there is no overall gain.

However, economists have recently found themselves at an impasse on the issue with even the most ardent oppositionists still researching newer findings, in an area of study that isn’t exactly brimming with ongoing research.

The new revelations highlight the difference between suburban arenas and what city planners call ‘high density civic attractions,’ which are more likely to be sought after in the small-to-mid market cities that are most susceptible to relocation.  Instead of driving to a suburban arena, watching the game, and then leaving – a downtown arena can attract people for longer visits, attract all-important out-of-town dollars, and encourage use of mass transit.

In terms of increasing land value, a properly developed downtown arena district can increase surrounding land value by “hundreds of millions of dollars” according to a recent study by lead opposition subsidy voice Brad Humphreys. Arguments move into the both the micro- and mundane-levels from there, but an increase in land value around these downtown arenas stands on its face – it’s valuable for a reason.

The NBA has the cachet as an anchor tenant to bring in the private investment needed to make these downtown revitalization projects pencil out, particularly as public redevelopment dollars have dried up around the country.

With the NBA being the winner of over $3 billion in public funds since 1990, they have a massive financial stake in making sure they both polish that pitch and protect their reputation on that front.

For starters they have to maintain that they can be a loyal partner to any city engaging in good faith efforts to maintain a state-of-the-art arena.  Long-term, by building a portfolio of downtown success stories like L.A. Live, downtown Indianapolis and the soon-to-be built arena in downtown Sacramento — the league can keep the public funding narrative from collapsing under a wave of antipathy toward millionaires and billionaires bouncing a leather ball for amusement.

So look for the NBA to work with Kohl and Milwaukee to find the political will (i.e. public dollars) to get an arena deal done. As expected, the league released a statement from David Stern moments ago expressing support for that process. “Senator Kohl bought the Bucks in 1985 in order to ensure the team would remain in Milwaukee. During his extraordinary stewardship his goal remained the same — to bring the fans of Wisconsin high-quality basketball from a team they would be proud to call their ‘home’ team. With this announcement, Senator Kohl continues his mission: to assure continuity of ownership by broadening its ownership base, and assuring that the fans of Wisconsin will enjoy NBA basketball and other events in a new state-of-the-art facility,” said Stern.

And while everything is going to sound fine for Bucks fans until it doesn’t, they’re not going to know that they are indeed keeping their team until much more has been revealed in this slow-moving story.

Dwyane Wade serious as mentor, teaching Justise Winslow post moves

Third day of Miami Heat camp 10/1/2015
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Dwyane Wade has earned his status as an elder statesman, the E.F. Hutton kind of veteran who speaks and everybody listens.

Rookie Justise Winslow is listening.

Winslow (who should have gone higher in this draft) is a perfect fit for the Heat and he’s going to be part of their rotation off the bench from the start of the season (along with Josh McRoberts and Amare Stoudemire). Wade has already fully stepped into the mentor role with Winslow working with him on post moves, reports Jason Lieser at the Palm Beach Post.

“As his career develops, hopefully he’s able to do multiple things on the floor, but right now there’s gonna be certain things (Erik Spoelstra) wants him to do, and some of those things I’m good at,” Wade said. “I’m just passing down knowledge to someone who I think could be good at things that I have strengths at. It’s gonna take a while, but if he figures it out at 21, he’s ahead of the curve. I figured it out at like 27.

“All of us are where we’re at because someone before us helped us. They helped by letting us sit there and watch film with them or having conversations with them. If he’s a student of it and he really wants to know, I’m a pretty decent teacher in certain areas.”

This is what you want out of a veteran leader and some of the young teams out there have done an excellent job adding this kind of mentor — Kevin Garnett in Minnesota may be the best example. Someone who can pass on his wisdom and show the team’s young players how to be a professional and win in the NBA.

It’s a little different for Winslow, he and the Heat are more in a win-now mode, but he should be able to contribute to that.

NBA All-Star, champion Bill Bridges dies at age 76

ATLANTA - 1968:  Bill Bridges#10 of the Atlanta Hawks poses for a portrait circa 1968 in Atlanta, Georgia. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement.  Mandatory Copyright Notice: Copyright 1968 NBAE (Photo by NBA Photo Library/NBAE via Getty Images)

Bill Bridges, a star as a Kansas Jayhawk who went on to have a 12-year NBA career that included being part of the 1975 Golden State Warriors championship team, has passed away, according to the University of Kansas.

Bridges was an undersized power forward at 6’6″ but he was a beast on the boards who averaged 11.9 rebounds a game for his career and more than 13 a game for six straight years at the peak of his career. That 11.9 per game average is still 27th all-time in NBA history.

A New Mexico native, Bridges was a three-time All-Star (all as a member of the Hawks), two-time All-NBA Defensive team, and was part of the 1975 Warriors title team. Besides the Hawks (St. Louis and Atlanta) and Warriors, Bridges played for the Sixers and Lakers.

Our thoughts are with his family and friends.