The Milwaukee Bucks will announce later Wednesday that the longtime owner Herb Kohl has reached an agreement to sell the team to Wesley Edens and Marc Lasry for a purchase price of $550 million, according to sources familiar with the transaction.
The move nixes any idea of the Bucks moving on to another city, say Seattle to replace the SuperSonics (now the Thunder). Kohl, a longtime U.S. senator who bought the team for $18 million in 1985, made keeping the team in Milwaukee a condition of the sale.
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