Bucks to be sold

[Glenn]

This all seems so easy when the seller insists that the team not be moved.

http://www.jsonline.com/blogs/sports/255507661.html

 

[whozit]

Hope it goes smoothly and all is on the up and up. Interesting that Kohl was reported to still be interested in contributing to the new arena.

 

[Glenn]

There is a news conference going on or just completed. Herb will contribute $100 mil to the new arena and the new owners will contribute $100 mil. They expect the arena to cost $440. mil. That's a good start.

Herb Kohl has always wanted the Bucks in Milwaukee and has been adamant about that. What else should he do with the money? He's old and has no heirs. I suspect he is contributing ONLY $100 mil out of his $500 mil profit on the sale of the Bucks means he is part of the idea that puts a squeeze on the area to come up with money. Certainly he could pay for the whole dang thing.

It would not surprise me at all if in his will is a donation of his portion of the arena to the city. He is no carpetbagger and may always be central to keeping the Bucks in Milwaukee. Certainly the NBA wants stability so this deal has to seem good. The NBA is mandating (can they really?) that a new arena be ready by 2017. This is making a lot of people in Milwaukee angry as well it should. I don't know the negatives to the Bradley Center but if it is bad as that arena out north, they have a bit of a leg to stand on. If the NBA just wants a shiny new object, I think the time will come when that idea comes to a screeching halt as part of the equation as that the community contributes and in modern times, the average man is not happy about helping out the rich. Nor should they.

It amazes me that the NBA can demand so much of a franchise that sucks.

 

[VF21]

...The NBA is mandating (can they really?) that a new arena be ready by 2017. This is making a lot of people in Milwaukee angry as well it should. I don't know the negatives to the Bradley Center but if it is bad as that arena out north, they have a bit of a leg to stand on. If the NBA just wants a shiny new object, I think the time will come when that idea comes to a screeching halt as part of the equation as that the community contributes and in modern times, the average man is not happy about helping out the rich. Nor should they.

It amazes me that the NBA can demand so much of a franchise that sucks.

I don't have a problem with the NBA setting a deadline for the new arena, especially since it's consistent with the deadline for the Kings. I think one of the side effects of Vivek's purchase of the Kings and the subsequent arena deal with Sacramento is that the bar is now set much higher on teams and host cities to work together. All in all, that might be a very good thing. (Of course, I could be completely wrong. )

 

[whozit]

There is a news conference going on or just completed. Herb will contribute $100 mil to the new arena and the new owners will contribute $100 mil. They expect the arena to cost $440. mil. That's a good start.

Herb Kohl has always wanted the Bucks in Milwaukee and has been adamant about that. What else should he do with the money? He's old and has no heirs. I suspect he is contributing ONLY $100 mil out of his $500 mil profit on the sale of the Bucks means he is part of the idea that puts a squeeze on the area to come up with money. Certainly he could pay for the whole dang thing.

It would not surprise me at all if in his will is a donation of his portion of the arena to the city. He is no carpetbagger and may always be central to keeping the Bucks in Milwaukee. Certainly the NBA wants stability so this deal has to seem good. The NBA is mandating (can they really?) that a new arena be ready by 2017. This is making a lot of people in Milwaukee angry as well it should. I don't know the negatives to the Bradley Center but if it is bad as that arena out north, they have a bit of a leg to stand on. If the NBA just wants a shiny new object, I think the time will come when that idea comes to a screeching halt as part of the equation as that the community contributes and in modern times, the average man is not happy about helping out the rich. Nor should they.

It amazes me that the NBA can demand so much of a franchise that sucks.

The common man might not like it but often things don't get done until there is a deadline. If this had dragged out and Kohl died, what then? It needs resolution quickly and I'm glad for the fans of the Bucks.

In terms of the profit, what about taxes? That is going to eat a chunk of it. I think it's great that he's putting a good chunk back into the City, most wouldn't.

The devil's in the details, but it looks like a similar breakdown to the Kings ownership and the City of Sacramento's split.

 

[Glenn]

I don't have a problem with the NBA setting a deadline for the new arena, especially since it's consistent with the deadline for the Kings. I think one of the side effects of Vivek's purchase of the Kings and the subsequent arena deal with Sacramento is that the bar is now set much higher on teams and host cities to work together. All in all, that might be a very good thing. (Of course, I could be completely wrong. )

So far I think they want to increase the sales tax. I think our solution was novel and hard to complain about. A sales tax is something different. Anyway, I'll let them worry about it.

 

[PurpleHaze]

Well, I suppose this sale (in Milwaukee!) just hiked current value of Kings to around $575M - up from last years Ranadive & Co. $534M purchase of the Sacramento franchise.

 

[VF21]

I"ll admit it. I'm just glad Chris Hansen wasn't able to get his dirty little mitts on the Bucks.