Unanimous: NBA approves sale of Milwaukee Bucks to Edens, Lasry

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NEW YORK (AP) — The NBA’s Board of Governors unanimously approved the sale of the Milwaukee Bucks on Thursday, May 15th to Wesley Edens and Marc Lasry.

The announcement was made on Twitter shortly before 6 p.m.

Former U.S. senator Herb Kohl reached agreement with them last month for about $550 million after they pledged to keep the team in Milwaukee. The NBA says Thursday in a statement that the transaction is expected to close shortly.

“We are pleased that Wes Edens and Marc Lasry have been approved as the new owners of the Milwaukee Bucks,” said NBA Commissioner Adam Silver.  “The Bucks and their fans will benefit greatly from their vast business experience, energy and strong commitment to Milwaukee.  I would like to thank Senator Kohl again for his unprecedented and historic financial gift toward the construction of a new Milwaukee arena and for his outstanding service to the league and his community over his nearly 30-year tenure.”

Silver also praised Kohl, who is donating $100 million for a new arena to replace the BMO Harris Bradley Center, for his “unprecedented and historic financial gift toward the construction of a new Milwaukee arena and for his outstanding service to the league and his community over his nearly 30-year tenure.”

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