Former U.S. Sen. Herb Kohl, owner of the Milwaukee Bucks, is seeking new investors for the ownership of the team.
Kohl issued the following statement today: “When I bought the Milwaukee Bucks back in 1985, it was for one reason — to keep the team here. To this day, that remains a top priority. We are proud to be an NBA city. We are very grateful to our fans and business partners who support us. I am especially proud of the extraordinary people in the Bucks organization who work tirelessly to deliver a good product and great entertainment. The best players in the world perform in our city every year, spreading the names of Milwaukee and Wisconsin around the country and, indeed, around the world. Over the next several months I will be considering broadening the ownership of the Bucks as a way to strengthen the franchise and keep it in Milwaukee. I have retained Steve Greenberg, managing director of Allen & Company, as my advisor. I have done business with Allen & Co. for over 30 years and they are a great organization. In the event new investor partners are added, they will need to be as committed to keeping the team in Milwaukee as I am. In addition to committed ownership, it is imperative that we get to a new 21st century sports and entertainment facility in a timely manner, not only for the Bucks but also for the more than 1.5 million visitors who attend nearly 200 events held there each year.”
