SBD/July 17, 2014/Franchises

Milwaukee's Best: Bucks Reveal Initial List Of Six Local Minority Investors

NBA execs wanted Bucks' investors to make a minimum investment of $5M
The Bucks yesterday revealed an "initial list of local investors in the franchise," according to Charles Gardner of the MILWAUKEE JOURNAL SENTINEL. The investors include Fiduciary Management Inc. Exec Chair & Portfolio Manager Ted Kellner, Kapco Inc. President Jim Kacmarcik, Good Karma Brands Founder & CEO Craig Karmazin, Mid Oak Investments President Mike Kocourek, Hal Leonard Corp. Chair & CEO Keith Mardak and Brewers VP/Business Development Teddy Werner, the son of Red Sox Chair Tom Werner. It is unknown "how much of an investment was made by each of the local businessmen." Bucks co-Owner Marc Lasry indicated last month that the NBA wanted "additional investors to make a minimum investment" of $5M in the franchise. A source said that several other "unnamed silent partners are involved in the ownership group." Bucks co-Owner Wes Edens said, "We wanted people deeply committed to being part of the community. This is a blue-chip list of people and I couldn't be more happy about it." Gardner notes the list "does not include" Packers QB Aaron Rodgers as "had been speculated." Edens said he and Lasry had "lots of conversations" with Rodgers but "we're not in a place to announce he's an investor." Meanwhile, Edens noted that he and Lasry also have "met with some stadium experts and architects and tried to learn some ideas from the arena planning" for the Warriors and NBA Kings. Both franchises are building new downtown arenas, with the Warriors "planning a move from Oakland to San Francisco." Edens also said that he has "looked at different sites in Milwaukee but his preference is a downtown location" (MILWAUKEE JOURNAL SENTINEL, 7/17). Lasry: “We are so excited about creating a new era of Milwaukee Bucks basketball. In just a matter of weeks, we have had an incredible draft, brought on a world-class coach, and have now assembled a visionary group of owners from the community” (BIZJOURNALS.com, 7/16).
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