Herb Kohl may give up control of Bucks to new ownership group, according to report

There was a perception then Kohl would remain the Bucks majority owner and the sale process could take up to a year. Now, that doesn’t appear to be the case.

I’m hearing Kohl will likely give up total control of the franchise, although it isn’t out of the realm of possibilities the new ownership group would smartly retain him in some capacity, perhaps as the team’s “ambassador.”

The people I spoke with contend the sale will probably occur sooner than later. In fact, I’ve been told a deal could be consummated by late April or early June. The Bucks, who have the worst record in the NBA and are already out of the playoff mix, will play their last game of the season April 16 at the BMO Harris Bradley Center.

In December, Kohl announced he’d be looking for additional owners, but Woelfel’s report suggests a surprisingly fast timeline. There could be new owners in place in time to shake up the front office before the draft and free agency.

All along, Kohl’s intention was to keep the team in Milwaukee, and according to Woelfel, “Kohl has already rejected overtures from two groups interested in buying the Bucks and relocating them to another city.”

Former Buck Junior Bridgeman’s name surfaced in February as a potential investor in the franchise.

Any new ownership group would have to have a plan for a new arena in order to avoid relocation.