NEW YORK (AP) - The NBA's board of governors has unanimously approved the sale of the Milwaukee Bucks to New York investment firm executives Wesley Edens and Marc Lasry.
Former U.S. senator Herb Kohl reached agreement with them last month for about $550 million after they pledged to keep the team in Milwaukee. The NBA says Thursday in a statement that the transaction is expected to close shortly.
Commissioner Adam Silver says the Bucks and their fans ''will benefit greatly from their vast business experience, energy and strong commitment to Milwaukee.''
Silver also praised Kohl, who is donating $100 million for a new arena to replace the BMO Harris Bradley Center, for his ''unprecedented and historic financial gift toward the construction of a new Milwaukee arena and for his outstanding service to the league and his community over his nearly 30-year tenure.''

Top NBA Public Bets

Advertisement

NBA Top Stories

Thumbnail Updated NBA Championship Odds Now that the NBA All-Star Game has wrapped, which team is currently favored to win this year's championship?
Thumbnail Pelicans' own Davis hopes to lead West On the heels of a rather tepid Saturday in New Orleans, can the NBA’s marquee talents bring the Smoothie King Center to life this...
Thumbnail Thompson, Irving load up for downtown duel With Stephen Curry out of the mix this time around, a lot of people feel compelled to classify the 2017 3-point contest as a wide-open affair. Klay...
Thumbnail Magic phenom aims to dazzle New Orleans After narrowly losing to Zach LaVine 12 months ago, Aaron Gordon appears fully committed to winning the 2017 All-Star dunk contest. Will anyone else even put up...
Thumbnail A-listers hit hardcourt in New Orleans This weekend, the Mercedes-Benz Superdome belongs to the biggest names in hoops – for the most part. Various entertainers will hit the hardwood tonight,...
Advertisement

NBA Team Pages