Bucks co-Owners Marc Lasry and Wes Edens on Thursday said that they “hope to add five to 10 local investors to the ownership team,” according to a front-page piece by Don Walker of the MILWAUKEE JOURNAL SENTINEL. Lasry said that both he and Edens had “met with some of the prospective investors.” Lasry: "I think they are going through the process right now with the NBA, getting approved. We want a number of local businessmen and folks who are very important to the community and be a part of what we are trying to do." Lasry, when asked if the investors approached them or vice versa, said, "It's been a little bit of both." Edens added that “some of the potential investors had contacted” Allen & Co., the N.Y.-based firm former Bucks Owner Herb Kohl retained to sell the team. Edens added that there was a “range of ownership percentage among the investors.” Meanwhile, Lasry and Edens “did not back away from their commitment to try to jump-start the process of getting a new sports arena built in Milwaukee.” Edens: "I think we have the resources between Senator Kohl's generous commitment, our own personal involvement and then, it has to be a net positive outcome for the community and I think it can be, obviously.” Walker notes the new owners also have “ambitious plans that seem to indicate a much larger development beyond a new arena” (MILWAUKEE JOURNAL SENTINEL, 5/30).
GETTING TO KNOW ALL ABOUT YOU: In Milwaukee, Charles Gardner notes the “energetic” Lasry and Edens “talked about their early plans for the team while also learning a bit about their adopted hometown” while visiting with Bucks fans on Thursday night. But the duo “tackled some serious issues, too, as they spoke to reporters and discussed their plans for the basketball and business sides of the franchise.” Edens and Lasry said that all efforts will be “focused on the June 26 draft, and they made it clear" GM John Hammond and Assistant GM David Morway "will be in charge.” However, the owners “did not address the long-term future" of Hammond and coach Larry Drew, "each with two years left on their contracts. Lasry “believes the business experience he and Edens have gained as hedge-fund investors will prove valuable" with the Bucks. Lasry: "When you sort of look at where the Bucks have been over the last couple years, whether it's been on the operations side, it still needs help, and there's a lot of room to improve. From a business side, that part we understand pretty well and we think we can actually improve on that. I think on the basketball side right now, John, David and Larry -- at least from all the dealings we've had -- they have been doing a great job. I think on the business side that needs some help.” Edens said that he and Lasry met with Brewers Owner Mark Attanasio a few weeks ago and “tried to take a few tips from his experience in baseball” (MILWAUKEE JOURNAL SENTINEL, 5/30).
