An agreement has been in place for a few weeks now that would see longtime Milwaukee Bucks owner Herb Kohl sell the team to Marc Lasry and Wes Edens for a reported $550 million, but the process can be a lengthy one when considering all that goes into it, along with the league’s approval process.
This particular sale, however, seems to be moving along a bit more expeditiously.
From Don Walker of the Milwaukee Journal Sentinel:
A source with knowledge of the sale process said Monday the sale of the Milwaukee Bucks to New York investors Marc Lasry and Wesley Edens “is moving quickly.”
“It’s possible there will be news later this week,” the source said. …
Assuming the sale goes through this week, Lasry and Edens are expected to take control of the team quickly. While they obviously have no control over it, the NBA draft lottery is May 20. That will determine the draft order on June 26.
This is good news for Bucks fans, because a new ownership group may be more actively engaged in trying to turn the fortune of the franchise around, and getting things finalized before important dates like the draft and the beginning of free agency will only help matters if indeed that’s the case.
The key component in the sale will be the push to get a new arena built in Milwaukee in order to make it stick. The new owners will have until November of 2017 to have a deal in place, otherwise the NBA has the right to buy back the franchise — a strategic move made to ensure the Bucks stay in Milwaukee, which is commissioner Adam Silver’s preference.
The Bucks are coming off a season in which they managed to finish with the worst record in the league, despite the Sixers at one point losing 26 straight games. That’ll give Milwaukee the most ping pong balls in the upcoming Draft Lottery, and with them the best mathematical chance of landing the number one overall pick in this summer’s NBA Draft.
Everything LeBron James does and says gets magnified and scrutinized.
So when he put out this photo on Instagram standing shoulder-to-shoulder with Tristan Thompson and the caption “get it done” it seemed a message to the Cavaliers.
LeBron clarified that on Sunday, saying this has become a distraction, and the message was for both sides to bend, as reported by Dave McMenamin of ESPN and Chris Haynes of the Plain Dealer.
When Thompson didn’t sign the qualifying offer he surrendered a lot of leverage, the Cavaliers don’t have to raise their five-year, $80 million offer — but reportedly they still would, a little. Thompson and his agent Rich Paul have pushed for a max contract, but that’s not happening.
At some point, the two sides will come to an agreement. For the Cavaliers, this is a distraction, their star is unhappy with that, and ultimately if they are going to make a title run they need the energy and rebounding Thompson brings (even if it is just off the bench). For Thompson, he can’t make up a year of lost salary, he has to come in and start getting paid at some point.
The two sides will get it done. Eventually. Likely before the season tips off.
China has secured the ninth and final Olympic men’s basketball berth awarded this year.
China earned the bid to the 2016 Rio Games with a 78-67 win over the Philippines. 2016 first-round draft prospect Qi Zhou had 16 points and 14 rebounds, setting up the Olympics to be his big introduction to American fans.
Former NBA player Yi Jianlian won tournament MVP by averaging 16.7 points, 8.8 rebounds, 1.4 assists and 1.2 blocks per game.
This will be China’s ninth straight Olympic appearance.
The Philippines, who got 17 points from Andray Blatche in the final, will still go to an Olympic Qualifying Tournament next summer with a chance to reach Rio.