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.

Larry Nance has buzzer-beating tip-in to beat Pacers (VIDEO)

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The Cleveland Cavaliers are not a good basketball team. Heading into Tuesday night’s game against the Indiana Pacers, LeBron James’ former squad had just seven wins.

Enter Larry Nance.

Where’s the Cavaliers down by one point with nine seconds to go in the fourth quarter, Rodney Hood took it upon himself to take what he thought would be the last shot for Cleveland. Hood danced around the defense before finally taking a jumper from the free-throw line, which bounced softly off the rim.

Nance, battling down low for the rebound, worked his way free for a tip-in as time expired.

Via Twitter:

There’s not much to cheer for in Cleveland this season but that’s a fun way to win a basketball game.

LeBron James on Anthony Davis joining Lakers: ‘That would be incredible’

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What counts as collusion these days in the NBA? What counts as tampering? It’s hard to say, but the league office takes a look at each and every comment like the one LeBron James made on Tuesday about New Orleans Pelicans big man Anthony Davis.

Speaking to ESPN’s Dave McMenamin, James said it would be incredible if Davis were somehow able to make his way onto the Los Angeles Lakers. This slots into the rumor around the NBA that LA is stockpiling its young core to be able to trade for a player like Davis.

Here’s the quote from LeBron, via ESPN:

“That would be amazing,” James told ESPN on Tuesday before the Lakers’ 115-110 loss to the Brooklyn Nets. “That would be amazing, like, duh. That would be incredible.”

There’s nothing much here that LeBron said that isn’t factual. Davis is a 5-time All-Star and one of the best players in the NBA, a unicorn not unlike LeBron himself.

The NBA is certainly hoping that the Lakers can get their act together and put a powerhouse around James at Staples Center. How he does it is up for debate, although making comments about current players probably isn’t the best idea. James has been able to keep his mouth shut for the most part, but perhaps talk of Davis is just too tempting.

NBA refs admit they missed James Harden’s shuffle-step travel

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Did James Harden travel on Monday night? Obviously.

But was Harden called for a travel by officials? No. At least, not at first.

Video of Harden’s ridiculous shuffle was circulated on social media after the Houston Rockets beat the Utah Jazz, 102-97. Harden was asked about the move by media, and said that he wasn’t going to tell on himself, which is fair enough.

On Tuesday the official NBA referee Twitter page decided to comment on the play at hand, admitting that they had made a mistake and had missed a travel.

Via Twitter:

Having a Twitter account hasn’t always worked out for the NBRA. Their explanations of what many would consider to be violations have often stood in the face of common sense. To that end, they’ve sometimes been mocked on social media, which is against their goal of having the social channel in the first place. But this play with Harden was a particular sore subject with fans around the league, and it was right of them in to make a comment.

At least they got it right.

Watch LeBron James get blocked at the rim by Jarrett Allen

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LeBron James is seemingly and ageless wonder. The Los Angeles Lakers forward is still one of the most athletic players to ever grace an NBA court, and despite his obvious physical decline, that’s not to say he’s a slouch out there. He’s not exactly late-career Boris Diaw just yet.

But LeBron is now 34 years old, and as such there are other players on the floor with him at any given time that have a bit more bounce than The King. James found that out the hard way on Tuesday night as the Lakers took on the Brooklyn Nets in New York.

During a play early in the first quarter, James drove to the basket only to be rejected by Brooklyn’s Jarrett Allen at the rim.

The result was striking.

Via Twitter:

Good for Allen. It’s one thing to say you have played against the best player of all time, but it’s another thing altogether to swat him on a play that creates a turnover.