The New Floor for an NBA Franchise: $550 MillionBy
The Milwaukee Bucks are about to be sold for $550 million. Herb Kohl, the former U.S. senator who bought the franchise for $18 million in 1985, is selling to private equity fund managers Wesley Edens of Fortress Investment and Marc Lasry of Avenue Capital Group. The deal would set a new record price for an NBA team, topping the the $534 million that Vivek Ranadive and his group paid for the Sacramento Kings last year.
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