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NEW INFORMATION: Kohl seeking ownership partners for Milwaukee Bucks

By: AP Email
By: AP Email

MILWAUKEE, Wis. (MILWAUKEE BUCKS WEBSITE) - Senator Herb Kohl issued the following statement today:

"When I bought the Milwaukee Bucks back in 1985, it was for one reason-to keep the team here.  To this day, that remains a top priority.  We are proud to be an NBA city.  We are very grateful to our fans and business partners who support us.  I am especially proud of the extraordinary people in the Bucks organization who work tirelessly to deliver a good product and great entertainment.  The best players in the world perform in our city every year, spreading the names of Milwaukee and Wisconsin around the country and, indeed, around the world.

Over the next several months I will be considering broadening the ownership of the Bucks as a way to strengthen the franchise and keep it in Milwaukee.  I have retained Steve Greenberg, Managing Director of Allen & Company, as my advisor.  I have done business with Allen & Co. for over thirty years and they are a great organization.  In the event new investor partners are added, they will need to be as committed to keeping the team in Milwaukee as I am.

In addition to committed ownership, it is imperative that we get to a new 21st century sports and entertainment facility in a timely manner, not only for the Bucks but also for the more than 1.5 million visitors who attend nearly 200 events held there each year."

MILWAUKEE (AP) -- Milwaukee Bucks owner Herb Kohl says he's looking for new investment partners committed to keeping the team in the city.

Kohl says he's hired Steven Greenberg, of Allen & Co., in New York, to advise him on the search for new ownership partners. The former U.S. senator says he's owned the team for 29 years and adding to ownership will provide more stability for the future.

Kohl says in a statement that any new partners would need to be as committed to keeping the team in Milwaukee. The 78-year-old Kohl says he doesn't have a number of potential investors in mind.

Kohl has scheduled a Monday afternoon news conference to discuss his search.
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MILWAUKEE (AP) --Milwaukee Bucks owner Herb Kohl says he's looking for new investment partners committed to keeping the team in the city.

Kohl says he's hired Steven Greenberg, of Allen & Co., in New York, to advise him on the search for new ownership partners. The former U.S. senator says he's owned the team for 29 years and adding to ownership will provide more stability for the future.

The Journal Sentinel reports Kohl says additional owners don't have to come from Milwaukee, but must be committed to keeping the franchise in Milwaukee. The 78-year-old Kohl says he doesn't have a number of potential investors in mind.


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