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Kohl seeks to add partners for new Bucks arena

December 16, 2013
Associated Press

Bucks owner Herb Kohl is considering adding to the team's ownership group in hopes of building a new arena that he said is "imperative" for the team's future in Milwaukee.

Kohl said Monday he has hired a firm to help in the search for new partners, and that if any new partners are added, they will be committed to keeping the team in Milwaukee.

That means a new arena to replace the 25-year-old BMO Harris Bradley Center, also home to Marquette basketball and the Milwaukee Admirals of the AHL.

"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," Kohl said in a statement.

Kohl, who recently retired after years as a U.S. senator, bought the Bucks in 1985. They are a team that's frequently a candidate for a move because of the age of their arena, but Commissioner David Stern said Kohl's decision shows he is dedicated to preventing that.

"With this announcement, Sen. Kohl continues his mission: to assure continuity of Bucks ownership by broadening its ownership base, and assuring that the fans of Wisconsin will enjoy NBA basketball and other events in a new state-of-the-art facility," Stern said.

Kohl and Stern both said Kohl bought the team with the goal of keeping it in Milwaukee, and that remains a priority now.

"We are proud to be an NBA city," Kohl said. "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."

Allen & Co. has been retained to help Kohl with the search.

 
 

 

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