Report: Sale of Milwaukee Bucks for record $550 million agreed upon, team to stay in Milwaukee

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It has been rumored for weeks, but Marc Stein of ESPN reports it will become official today — longtime owner Herb Kohl will sell the Milwaukee Bucks to a group committed to keeping them in Milwaukee.

Herb Kohl purchased the Bucks in 1985 for $18 million. Just remember that next time an owner talks about their annual losses with their team (franchise valuation is not part of that calculation).

This looks like a big win for Bucks fans, at least at first glance.

That sale price is 27 percent more than the $405 million that Forbes estimated the Bucks to be worth. The sale will need to be approved by the league’s owners after the buyers go through a thorough background check. However the sales are almost always approved.

Kohl had been looking for new owners for some time but refused to talk to people such as Chris Hansen and his Seattle group because he only wanted an owner that would keep the Bucks in Milwaukee.

Marc Lasry and Wes Edens, are hedge-fund billionaires based out of New York who Forbes estimates at having a combined net worth around $3 billion. It is unclear yet if there were be some minority owners joining the group based out of Milwaukee (or even somewhere in the Midwest), to ease concerns about moving the team.

To keep the team in Milwaukee will require a new arena — Commissioner Adam Silver has said as much, the current arena lacks many luxury boxes — and how that gets done will be the big question. Lasry and Edens will have to pony up some cash, Kohl may as well, but they also likely will ask for public money and that would be a much more difficult get.

It is not clear yet what happens if a new arena cannot get built, and on what timeline all that would happen.

Also not clear is what that means for the current front office and coaching staff. Getting the sale approved likely will not impact this draft — where the Bucks have the best odds of getting the No. 1 pick following their terrible season — or maybe even next season. But new owners inevitably bring changes.

They buy a team with a potentially good core of young players — Giannis Antetokounmpo, John Henson, Larry Sanders, plus this year’s draft pick — that could develop into an interesting team in a few years with the right management and coach. And if they start to win they will sell out any new building.

Dwyane Wade sinks halfcourt buzzer-beater (video)

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Dwyane Wade is secure in his legacy. He’s an all-time great, and an extra missed 3-pointer during his farewell tour won’t change anything. (It doesn’t hurt that his resumé already includes subpar 3-point shooting.)

So, when many players would hold the ball, Wade heaved in a halfcourt shot to end the third quarter of the Heat’s 110-105 win over the Spurs on Wednesday. It wasn’t the biggest shot of Wade’s season, but it still mattered plenty.

Miami’s lead when San Antonio began intentionally fouling late? Three.

Jonas Valanciunas hits game-winning free throw, spoils James Harden’s 57-point night (video)

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The Grizzlies blew a 19-point lead in the fourth quarter and a five-point lead in the final 30 seconds of overtime. James Harden scored 57 points, including 18 in the fourth quarter and all 10 of the Rockets points in overtime.

But Jonas Valanciunas saved Memphis from total collapse. He drew a foul on his putback and hit the game-winning free-throw with 0.1 seconds left to give the Grizzlies a 126-125 win Wednesday.

Report: Suns exploring signing Jimmer Fredette

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Jimmer Fredette remains a fascination because he scored a ton at BYU eight years ago and… other reasons.

He has been lighting it up in China, and his season there just ended. Now, the former No. 10 pick could return to the NBA after three years away.

John Gambadoro of Arizona Sports 98.7:

Phoenix still needs another point guard, and the 6-foot-2 Fredette looks like one. But he hasn’t shown the playmaking to play point guard regularly. He’s better, and sometimes even effective, off the ball.

Fredette could have stuck in the NBA with a different attitude. His long-distance shooting was an asset.

But he’s also now 30 years old. A new approach likely won’t be enough. His shortcomings, particularly defensively, will be even more pronounced as his athleticism has declined.

The Suns are bad and will remain bad, with or without Fredette. But their younger players have shown signs of progress lately. Fredette’s high-usage style could interfere with their development.

It’s hard to see the upside here other than a brief uptick in attention.

Marcus Smart shoves down Joel Embiid from behind, gets ejected (video)

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Marcus Smart recently bemoaned the lack of physicality in the NBA.

After Joel Embiid dropped his shoulder into him on a screen, Smart brought some to tonight’s Celtics-76ers game.

Smart shoved Embiid in the back, sending the center to the floor. A cheap shot? Yes. Embiid wasn’t looking. But Smart would surely argue Embiid started it. I also doubt Smart intended to push Embiid from behind. Smart just wanted to get at Embiid as quickly as possible, and Embiid happened to be facing the other way when Smart arrived.

Smart got a flagrant 2 and the accompanying ejection. Embiid received a technical foul.