Bucks fans, business owners say, "This is exciting!"

MILWAUKEE (WITI) -- Milwaukee Bucks fans, and Milwaukee business owners breathed a sigh of relief on Wednesday, April 16th -- when they learned the team will not be leaving Milwaukee.

The current owner of the Bucks, former Senator Herb Kohl announced he has signed into a signed purchase agreement to transfer ownership of the Bucks to Wesley Edens and Marc Lasry. Edens and Lasry are highly regarded investors firmly committed to the success of the franchise, and its importance to Milwaukee. The two have committed $100 million to build a new arena. Sen. Kohl has committed an additional $100 million.

Business owners in downtown Milwaukee say they're excited after hearing Wednesday's news.

"I was nervous for a second," Bobby Wiltgen, who opened "Who's On Third" on Milwaukee's Old World Third Street just a few weeks ago told FOX6 News. "I was always confident that Herb Kohl would keep the team in Milwaukee."

Wiltgen's confidence was confirmed with the announcement that Sen. Kohl is selling the NBA franchise, and that it will be staying in the city.

It is a move that has Wiltgen feeling much better about the chances for his business to thrive.

"The Bucks are important, and there`s a lot of excitement. Even though it was a really bad year, (there's excitement) that we`re gonna get a draft pick. We`ve got that 18-year-old kid that`s doing fantastic for the Bucks, so everybody`s positive about the future of the Bucks," Wiltgen said.

"This is a tremendous investment in the development of downtown," Metropolitan Milwaukee Association of Commerce President Tim Sheehy said.

Sheehy says the sale of the club coming combined with a pledge of $200 million toward the construction of a new facility from the potential new owners and the current owner is something to celebrate.

"Look at what this means for Milwaukee. We draw a million-and-a-half people down here. This could spur additional investment. All that means more jobs, and all that means more tax revenue, both to the city, the county and the state, and that`s exciting!" Sheehy said.

There is still some uncertainty regarding where the new Bucks facility would be located.

While Sheehy describes downtown Milwaukee as being ripe for the investment, the truth is, where the arena would be located remains in question.

----

Milwaukee Bucks fans are feeling excitement and hope after Wednesday's announcement. They say the news means a bright future for the Bucks.

"The first thing that went through my mind is that I know it`s a new era. That's some great news -- a silver lining to a rough season. Go Bucks!" Leonard Taylor said.

"I think it's probably a good thing to bring new ownership in -- maybe some new ideas," Debra Zellmer said.

Besides the news of the sale, on Wednesday, Bucks fans learned of plans for a new arena.

"It`ll be interesting to see what it will do for the community. Maybe bring some more businesses in," Zellmer said.

The idea of a new arena has been controversial, but with the pledge of at least $200 million from Kohl and the potential new Bucks owners towards the project, Milwaukee Attorney Frank Gimbel sees this as a possible game-changing moment.

"The general population of not only Milwaukee but regionally will be enhanced financially and otherwise," Gimbel said.

R.D. Lindsey took in his first Bucks game on Wednesday. If he gets the job he interviewed for in Milwaukee -- he says he's happy to hear there will be many more opportunities to go to games.

"I think it`s awesome because they`re talking about keeping the team here. That`s a big deal. It just keeps the money here and the fan base you know, so you don`t have to move off or try to find another team," Lindsey said.

Season-ticket holders like Jenni Lawler say she's excited she will have more of an incentive to come to games -- and her kids will have a team to root for.

"I`ve been debating the last few weeks if I was going to continue. But I think we are," Lawler said.

Most of the Bucks fans FOX6 News spoke with say they'll be more inclined to buy season tickets moving forward. They say they're hopeful the money for a new arena will be raised and the Bucks will remain part of Milwaukee's landscape.