Reports: Bucks owner may be nearing sale of team

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For some time now owner Herb Kohl has been public about trying to bring in other investors to the Milwaukee Bucks, ideally someone to take over for him if not now within a few years.

That has the sharks circling — buyers looking to purchase the team and move it come 2016 when the lease in Milwaukee opens up have been inquiring (yes, Seattle was one). Kohl, as you would expect of a United States Senator, is loyal to his state and is looking for ownership to pump in cash but keep the team in Milwaukee. New NBA Commissioner Adam Silver has been publicly on Kohl’s side about keeping the team in Milwaukee, but also has said there needs to be a new arena, with that process underway by 2017.

Kohl may be getting close to that goal and with it selling the team. How close depends on who you listen to.

Bill Simmons of Grantland/the ESPN NBA Countdown show tweeted out this Saturday.

Then the Milwaukee Journal Sentinel spoke with the broker Kohl has hired and as you would expect he pumped the breaks on this idea.

“There is a lot of speculation out there,” Greenberg told the Journal Sentinel. “There is an active and ongoing process with respect to the Bucks. But we are not going to comment on speculation.”

Greenberg, who is representing Kohl in the sale process, said it was “premature to make any sort of announcement of a possible sale. We do not intend on saying anything publicly.”

The lawyers don’t like to talk until the ink is dry on the contract. That said, it appears that some kind of ownership group seems to be stepping up to keep the team in Milwaukee and that a deal is nearing.

Sorry Seattle. I hate to say that the NBA is going to use you like the NFL uses Los Angeles for leverage, but….