Wednesday, April 16, 2014

Herb Kohl Sells Bucks - $550 MILLION

Some people have so much money. Not that there's anything wrong with that.

Let me rephrase that: There's nothing wrong with having tons of money if you're a Leftist. If you're conservative, you're wealth makes me you evil.

Anyway, numerous outlets are reporting that Herb Kohl, long-time Wisconsin senator, super-rich Democrat, has found a buyer for the Milwaukee Bucks.

From the Milwaukee Journal Sentinel:

ESPN is reporting that Bucks owner Herb Kohl plans to sell the team to hedge-fund billionaires Marc Lasry and Wesley Edens for a price of $550 million.

The Bucks have announced a major news conference at 2:30 p.m. at the BMO Harris Bradley Center, prior to the team's final regular-season game vs. Atlanta.

Discussions with multiple parties have taken place in recent months. Kohl announced in December he was searching for additional investors to take the franchise into the future. He made a condition of a sale that the team would remain in Milwaukee.

An ownership transfer would be subject to league approval.

Kohl bought the Bucks for $18 million in 1985 and has owned the team for 29 seasons.

Edens is the co-founder of the Fortress Investment Group LLC, based in New York. According to federal Securities & Exchange Commission documents, the firm has $61.8 billion in assets under management.

Lasry is the chairman, CEO and co-founder of Avenue Capital Group. As of March 31, 2014, the firm had $13.6 billion in assets under management.

A source with knowledge of the sales process said bidding on the team began at $400 million. Forbes magazine, which annually assesses the value of professional sports franchises, said the Bucks were worth $405 million, last in the National Basketball Association.
The Bucks are a bargain, worth the least in the NBA?

We are talking big, big bucks. $550,000,000!

Kohl has made an incredible profit.

He's reported to be getting more than half a billion dollars on the sale.


The Bucks are not even on my radar screen. The last time I went to a game, my husband got free tickets. They were really great seats and I enjoyed it. Bango was harassing me a bit, but I dealt with him. All in all, I had a good time.

I would like the Bucks to stay in Milwaukee, but I don't want to spend a dime to fund the billionaire playground. If they were to leave, I wouldn't care.

Considering Herb Kohl spent more than two decades in the U.S. Senate, it's not too impressive that this Bucks deal is being viewed as his most noteworthy and relevant legacy to Wisconsin.

Of course, Wisconsin voters are to blame for that disgrace, not Kohl. He bought his senate seat. Wisconsinites were willing buyers of "Nobody's Senator."

What a waste!

Remember, Herb Kohl is responsible for giving us ObamaCare.

Way to go, Herb!

Enjoy your profits, while people are suffering from the ObamaCare nightmare!

Thanks, Herb, for everything!