August 18, 2017 2:15 AM ET

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Company Overview of Milwaukee Bucks, Inc.

Company Overview

Milwaukee Bucks, Inc. (MBI) offers sports and entertainment services. The company owns and manages the Milwaukee Bucks professional basketball team that plays in the National Basketball Association. Additionally, it offers sport merchandise retailing and marketing services. MBI was founded in 1968 and is headquartered in Milwaukee, Wisconsin.

1001 North Fourth Street

Milwaukee, WI 53203

United States

Founded in 1968

Phone:

414-227-0500

Fax:

414-227-0497

Key Executives for Milwaukee Bucks, Inc.

President
Co-Owner
Age: 57
Co-Owner
Age: 55
Co-Owner
Age: 58
Chief Financial Officer
Compensation as of Fiscal Year 2017.

Milwaukee Bucks, Inc. Key Developments

Milwaukee Bucks Announces Executive Changes

Milwaukee Bucks's team named director of basketball operations Jon Horst as its next general manager. He will replace John Hammond, who left last month to take the Orlando Magic job. Horst will take over building a young, promising roster led by All-Star forward Giannis Antetokounmpo and coached by Jason Kidd.

The Milwaukee Bucks Agrees to Pay Up to $250,000 to Settle Class-Action Lawsuit

The Milwaukee Bucks agreed to pay up to $250,000 to settle a class-action lawsuit filed against the team by a former dancer who claimed she and other dancers were underpaid in violation of federal and state labor and wage laws. Lauren Herington sued the Bucks in September 2015, and the case has been in discovery and settlement talks ever since. She danced for the team during the 2013-'14 season, before the team's purchase by current owners Wes Edens and Marc Lasry from longtime owner Herb Kohl. Herington's suit claimed that Bucks dancers spent hours in training, wardrobe maintenance, practice and dancing at games. In addition, they appeared at charity events and posed for a calendar. It said the payments - $65 for games, $30 for practice and $50 for special events - often led to the dancers earning less than minimum wage some weeks. The settlement proposal would pay Herington $10,000, her attorneys $115,000 and give her and 40 other women who were employed as dancers from September 12, 2012, to July 31, 2015, the chance to "opt in" to the settlement and receive payments based on their particular hours worked during the covered period.

Milwaukee Bucks to Break Ground on their New Downtown Arena and Plans to Complete $524 Million Project by Summer 2018

The Milwaukee Bucks will break ground on their new downtown arena June 18 and plan to complete the $524 million project by summer 2018. It was the first time the Bucks gave a precise date for groundbreaking; in recent months the official position was that the project would start in June or July. The lease-signing moves the Bucks one important step closer to groundbreaking. The Bucks negotiated the lease over the past few months with representatives of the Wisconsin Center District. The public-taxing district will be the arena's owner and oversee the $250 million public investment in the project. The Bucks also disclosed that the total cost of the project has increased by $24 million to $524 million. Preliminary work already has begun on sewer relocation in the Park East corridor, which is part of the new arena district, and the north side of the BMO Harris Bradley Center.

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Recent Private Companies Transactions

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