This was expected to happen soon — if you find guys willing to spend $550 million on the Milwaukee Bucks, you jump on it.
The NBA found that with hedge fund billionaires Wesley Edens and Marc Lasry and those two are expected to be approved by the owners on Thursday, reports Brian Windhorst of ESPN.
In the wake of the Donald Sterling scandal, there was a push within the league to have an extra thorough vetting of the new owners, sources said. That process, however, is complete and the league’s Board of Governors will approve the transaction that was initially signed last month.
The timing of the sale will allow Edens and Lasry to take control of the team before next Tuesday’s draft lottery in New York, which was a priority. The Bucks, at 25 percent, have the highest odds to win the lottery after an NBA-worst 15-67 season. The high draft choice in what is expected to be a deep draft was one of the attractive selling points of the team.
The lottery will be exciting, but that’s not where the real work with the Bucks will be — they need a new arena.
Edens and Lasry have said they would pitch in $100 million toward a new arena, and soon-to-be former owner Herb Kohl has pledged $100 million. That’s a lot of cash, but it’s only about two-fifths of what will be needed. Edens and Lasry need to find the other money (likely trying convince the local or state government to pitch in, which will be a tough sell), then they need to get a location and start the approvals process.
The deadline is 2017, when the Bucks current lease is up.
If a new arena deal is not in place, the sale agreement says the league can buy the Bucks back from Edens and Lasry for $575 million. That would prevent them from just moving the team or trying to flip it.
CLEVELAND (AP) John Wall scored 37 points, Bradley Beal added 27 and the Washington Wizards began a challenging road trip by beating LeBron James and the Cleveland Cavaliers 127-115 on Saturday night.
Wall scored 18 in the first quarter, when the Wizards shot 82 percent, and Washington held on down the stretch to avenge an overtime loss to the NBA champions last month.
James, who briefly wore goggles to protect an eye injury sustained Friday night, scored 24 and added 11 rebounds and eight assists. Kyrie Irving added 23 points and Kevin Love 17 for Cleveland, playing at home for the only time in a seven-game stretch.
Washington’s victory cut Cleveland’s lead in the Eastern Conference to a half-game over idle Boston.
Utah and the L.A. Clippers are almost locked into a first round, four vs. five battle in the Western Conference. The only question is which team will have home court, and the Clippers took a big step towards that beating the Jazz at home Saturday. While the Jazz still has a half-game lead, the Clippers have a much softer schedule the rest of the way.
After that loss, Jazz center Rudy Gobert was ticked off and called out his teammates. Via Tim MacMahon of ESPN.
“We’ve got guys that compete, but some of us don’t compete. Some of us just think about scoring. That’s what it is. … Coach keeps repeating it: We’ve just got to compete. We’re too nice. Those guys, we know they’re going to get calls. We’ve just got to come out aggressive and ready to fight.”
Interesting comments for a team that is third in the NBA in defensive rating and 13th in offense.
Gobert is frustrated as Utah has dropped four of its last five, and the slump has been on both ends of the court. The defense has struggled, but if guys are looking to score too much they aren’t doing it efficiently because the offense has been worse.
This slide likely costs Utah home court in the first round, which could matter in what will be a tight matchup with Los Angeles. Utah needs to find its grinding rhythm again heading into the playoffs, at their best they can knock off the Clippers in the first round. Just not like they are playing now.
One thing to watch, Utah’s Gordon Hayward asked out of the game in the fourth quarter due to what is being called a bruised muscle in his leg. If he misses any time or if this lingers, it could be trouble for the Jazz in the postseason.
LeBron James suffered a scratched cornea Friday night when he went up for a layup late in the third quarter and Jeremy Lamb tried to contest and caught him clean across the face. LeBron got the and-1, but had trouble keeping his eye open in postgame interviews Friday.
Saturday he did play — wearing protective goggles. As you can see above.
That lasted about a minute.
LeBron was likely frustrated as the Cavaliers defensive woes had the Wizards up double digits much of the first half.
For the first time since he walked off the court in his final game, Kobe Bryant was back at Staples Center Friday night.
The reason was Shaquille O’Neal was getting a statue out in front of Staples Center (a building that may not have gotten built without the two of them). The two famed feuders sat next to each other and joked around through the ceremony. Time heals all wounds.
With the new management of the Lakers — specifically Kobe’s former agent Rob Pelinka as GM — there has been speculation Kobe could take on a role. He’s not looking for something formal, according to reports, but he didn’t say no, either, when asked.
I picture Kobe as a guy who someday buys a team, not a guy who wants to haggle with agents over the details of a contract. He’s not going to take on a day-to-day role, he likes the retired life and what he is building with the Kobe brand.
That said, the Lakers front office can use all the smart voices it can get as they try speed up a rebuild. They should give him a call every once in a while.