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

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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.

Cavaliers cruise past Celtics in Game 3, change complexion of Eastern Conference finals

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The Cavaliers were heavy favorites over the Celtics entering the Eastern Conference finals. LeBron James has dominated the East for years, and Cleveland appeared to hit its stride in a sweep of the Raptors last round. Boston was shorthanded and inexperienced.

Were the Celtics’ two wins to open the series, as impressive as they were, really enough to override everything else we knew about these teams?

The Cavs walloped Boston in Game 3, 116-86, Saturday. Cleveland now has four of the NBA’s last five 30-point playoff wins – two against the Celtics last year, one over Toronto last round and tonight. (The Cavaliers lost the league’s only other 30-point game between, to the Pacers in the first round.)

Boston still leads the series 2-1, and teams up 2-1 in a best-of-seven series have won it 80% of the time.

But the team up 2-1 is usually the one seen as better entering the series. That isn’t the case here, not with LeBron on the other side. And the leading team usually isn’t so woeful on the road, which will remain a major storyline entering Game 4 Monday in Cleveland.

The Celtics bought themselves margin for error, but they blew a lot of it tonight.

It’d be an oversimplification to say the Cavs just played harder, but they did, and it went along way. They chased loose balls, tightened their defense and moved more off the ball offensively. Cleveland jumped to a 20-4 lead, led by double digits the rest of the way and spent most of the game up by at least 20.

LeBron (27 points, 12 assists, two blocks and two steals) dazzled as a passer and locked in as a defender. He received help from several players:

In a low-resistance effort, Boston didn’t goon up the game at all.

The Cavaliers still have plenty of work ahead to reach their fourth straight NBA Finals, but tonight, they showed a path to advancing. Climbing out of their early series deficit now looks far less intimidating.

Luka Doncic named EuroLeague MVP at age 19

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Luka Doncic, the likely top two pick in the upcoming NBA draft, has led his Real Madrid team to the EuroLeague finals at age 19.

Now he has been named the youngest player ever win the EuroLeague MVP.

For those unfamiliar, EuroLeague is the equivalent of the Champions League in soccer — the very best club teams from around the continent face off against each other. On this biggest of European stages, Doncic has been a force. He is a gifted passer with great court vision. He can take his man off the dribble. He can hit threes. And he knows how to be a floor general and run a game. Did we mention he’s just 19?

Doncic said before the start of EuroLeague that he hasn’t decided what he is going to do about coming to the NBA or going back to Real Madrid. Don’t buy it. This is like asking a major college basketball star right before the NCAA Tournament if he is coming back to “State U” next year, they don’t want to say “no” right before the tourney so they give a non-committal answer. Same here. He’s not leaving millions on the table, he’ll be in the NBA next season.

And he’ll bee good.

Playoff losses wearing on LeBron James: ‘I lose sleep’

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Last season, the Cleveland Cavaliers lost one game before reaching the NBA Finals. The season before that, two. The season before that also two. In Miami before that, the last couple of years they went to the Finals the Heat lost three and four games before reaching the Finals.

This year, the Cavaliers have lost five games already and find themselves down 0-2 to the Boston Celtics heading into Game 3 Saturday night in Cleveland.

The losses do weigh on LeBron, as reported by Dave McMenamin of ESPN.

“I mean, I lose sleep,” James said after shootaround Saturday morning. “I mean, at the end of the day, when you lose any game in the postseason, [you lose sleep], so it’s never comfort. Playoffs is never comfort. There’s nothing about the playoffs that’s comfortable until you either win it all or you lose and go into the summer.

“So, for me, it’s always [a] day-to-day grind to figure out ways that you can be better.”

Cleveland has a lot to figure out to win the next two games because if they don’t and go down 3-1 in this series, it’s hard to envision how LeBron can drag this roster back to the Finals (what would be his eighth straight trip).

Offensively Cleveland has to get consistent play from guys other than LeBron (and to a lesser extent, Kevin Love) — J.R. Smith has been awful and needs to find a rhythm at home, George Hill needs to make some plays, Kyle Korver needs to get open and knock down some looks, and some help from the bench is needed.

But that’s not even the end of the floor that is the Cavs real problem. Defensively the Cavaliers recognition and communication has been dreadful, and the passing and player movement of the Celtics has carved them up. Cleveland has outscored teams and not defended all that well for a long time now — that’s how they made the Finals a season ago — but it’s not enough now. The offense and LeBron can’t carry them all the way.

We’ll see after Game 3 if LeBron is going to be able to get any sleep Saturday night.

Bulls’ Paul Zipser has surgery to repair broken left foot

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CHICAGO (AP) — Chicago Bulls forward Paul Zipser has had surgery to repair a broken left foot.

The team said Friday the operation was performed in his native Germany. The Bulls gave no timetable for his recovery.

Zipser averaged 4.0 points in 54 appearances before sitting out the final nine games last season.