The Milwaukee Bucks are set to announce that their long time owner, Herb Kohl, has agreed to sell the franchise, ESPN is reporting.
Kohl is believed to have brokered a deal which will see billionaires Wesley Edens and Mark Lasry purchase the team for $500 million according to sources that have been involved in the deal.
Kohl has been the owner of the under-performing Bucks since 1985, and famously nearly sold the team to NBA legend Michael Jordan back in 2003 before deciding to retain ownership.
But the U.S. senator seems to have finally decided to part with the franchise with the Bucks set to confirm the deal at an afternoon news conference today.
While changes of ownership always bring the inevitable questions of location switches, it doesn't look like Milwaukee fans will have to worry with Kohl having made keeping the team in the city a condition of the sale.
What do you think Bucks fans? Is this a positive mood for the franchise?