BCS:BraveCaringSoul
June-29th-2003, 08:07 PM
Looks like MJ may end up with the Charlotte Bobcats in some capacity.
Original URL: http://www.jsonline.com/sports/buck/jun03/151660.asp
Kohl says he's not selling the Bucks
By DON WALKER
dwalker@journalsentinel.com
Last Updated: June 29, 2003
In a stunning announcement, U.S. Sen. Herb Kohl declared Sunday that he had decided not to sell the Milwaukee Bucks, the team he has owned since 1985.
In a statement issued by Bucks officials, Kohl said he would not sell the team at this time, but "will continue to own them, improve them, and commit them to remaining in Wisconsin."
The news that Kohl had changed his mind also represents a setback for Michael Jordan, the basketball superstar who had hoped to buy the Bucks and launch a new career as the owner of an National Basketball Association franchise.
In his statement, Kohl, who had met with Jordan in recent weeks, alluded to Jordan's effort to buy a team.
"In the course of negotiations, I and my representatives had detailed discussions with Michael Jordan and his representatives. I must say that I enjoyed those conversations and was pleased with Michael's commitment of substantial personal time and personal financial resources to the proposed transaction.
"I was also impressed with the quality of professionals that he was prepared to engage had we gone forward, as well as his willingness to make every effort to keep the team in Wisconsin."
Kohl added that he felt Jordan "will be an excellent owner of an NBA franchise and [I] have encouraged him, for the benefit of the NBA, to continue his consideration of such an investment."
Neither Jordan nor his representatives could be reached for comment.
Kohl added that, "on balance, I simply decided that I am not yet prepared to sell the team at this time and have instructed my representatives, accordingly."
Kohl could not be reached for further comment. Bucks officials said Kohl would not speak further on the issue.
Kohl had first announced his intentions last fall when he said he would be willing to sell a minority ownership in the team, which he purchased for $18 million in 1985.
In January, Kohl went further, saying he was open to selling a majority interest in the team.
Kohl was believed to be asking well over $170 million, a price local and national financial experts said was too high for the team.
Kohl's announcement came as the Bucks released Ernie Grunfeld from his contract as general manager, a move that had raised speculation that Jordan was ready to make his move to buy the team and bring in his own people.
Earlier Sunday, the Bucks said Grunfeld, who was earning $1.5 million a year as general manager, would be free to pursue other opportunities in the National Basketball Association.
Original URL: http://www.jsonline.com/sports/buck/jun03/151660.asp
Kohl says he's not selling the Bucks
By DON WALKER
dwalker@journalsentinel.com
Last Updated: June 29, 2003
In a stunning announcement, U.S. Sen. Herb Kohl declared Sunday that he had decided not to sell the Milwaukee Bucks, the team he has owned since 1985.
In a statement issued by Bucks officials, Kohl said he would not sell the team at this time, but "will continue to own them, improve them, and commit them to remaining in Wisconsin."
The news that Kohl had changed his mind also represents a setback for Michael Jordan, the basketball superstar who had hoped to buy the Bucks and launch a new career as the owner of an National Basketball Association franchise.
In his statement, Kohl, who had met with Jordan in recent weeks, alluded to Jordan's effort to buy a team.
"In the course of negotiations, I and my representatives had detailed discussions with Michael Jordan and his representatives. I must say that I enjoyed those conversations and was pleased with Michael's commitment of substantial personal time and personal financial resources to the proposed transaction.
"I was also impressed with the quality of professionals that he was prepared to engage had we gone forward, as well as his willingness to make every effort to keep the team in Wisconsin."
Kohl added that he felt Jordan "will be an excellent owner of an NBA franchise and [I] have encouraged him, for the benefit of the NBA, to continue his consideration of such an investment."
Neither Jordan nor his representatives could be reached for comment.
Kohl added that, "on balance, I simply decided that I am not yet prepared to sell the team at this time and have instructed my representatives, accordingly."
Kohl could not be reached for further comment. Bucks officials said Kohl would not speak further on the issue.
Kohl had first announced his intentions last fall when he said he would be willing to sell a minority ownership in the team, which he purchased for $18 million in 1985.
In January, Kohl went further, saying he was open to selling a majority interest in the team.
Kohl was believed to be asking well over $170 million, a price local and national financial experts said was too high for the team.
Kohl's announcement came as the Bucks released Ernie Grunfeld from his contract as general manager, a move that had raised speculation that Jordan was ready to make his move to buy the team and bring in his own people.
Earlier Sunday, the Bucks said Grunfeld, who was earning $1.5 million a year as general manager, would be free to pursue other opportunities in the National Basketball Association.