Prospective Bucks co-Owners Wesley Edens and Marc Lasry last week made it "abundantly clear they want to build a world-class basketball organization and get an arena built as soon as possible in downtown Milwaukee," according to Don Walker of the MILWAUKEE JOURNAL SENTINEL. Both Lasry and Edens are "perfectly aware of the anti-tax environment surrounding the arena debate that could derail any version of a public-private partnership many believe will be needed to build a new, multipurpose arena." But they said that the combination of Bucks Owner Herb Kohl's $100M gift toward a new arena and their own commitment of at least $100M will "make the project happen." Edens said, "We are going to build an arena. We are going to be part of the community. The Bucks are going to be a great basketball team. That's our goal and that's what's going to happen." The pair also "have a timetable in mind." Edens said, "Getting something designed, financed and ready to come out of the ground in the next 12 months is a very aggressive but a very realistic timeline, so long as there is engagement locally, which I believe there will be. So as soon as we are mandated as the owners, we will jump into it with both feet and get after it." Both Edens and Lasry said that they would "have homes in Milwaukee" and will "bring in local investors." That suggests the two are "looking for additional private capital to finance a new arena." Lasry said, "Part of this for us, you can only go up. ... If everything works the way hopefully it will and we can follow the model of San Antonio or the Thunder" (MILWAUKEE JOURNAL SENTINEL, 4/19).
STAMP OF APPROVAL: Silver on Friday said that the league "has not approved" the $550M sale of the Bucks. Silver said he hopes league owners will vote to approve the deal "within the next month." In Milwaukee, Nick Nehamas noted 23 of the 30 owners "must give their stamp of approval." Silver said, "I don't anticipate there will be any issues, but we're just not at that point in the process yet" (JSONLINE.com, 4/19).
