Reported new Bucks owners made money in hedge funds
Feb 3, 2014; Milwaukee, WI, USA; Milwaukee Bucks guard Giannis Antetokounmpo (34) makes a layup against New York Knicks center Tyson Chandler (6) in the 4th quarter at BMO Harris Bradley Center. Photo: Image by Benny Sieu-USA TODAY Sports
It looks like the Milwaukee Bucks could be changing hands, and becoming the property of two New York hedge fund investment operators.
ESPN's Bill Simmons initially reported that New York-based billionaires Wes Edens and Marc Lasry, who have had a stake in Quizno's in recent years, made an offer around $550 million for the franchise.
Edens and Lasry made their money in hedge funds, Edens with Fortress Investment Group and Lasry with Avenue Capital.
Lasry was a major donor to Barack Obama and other Democrats, which presented him an opportunity that almost saw him leave Avenue Capital - a Global investment firm that Lasry co-founded and is currently the chief operating officer of - to become the U.S. Ambassador to France in 2013, according to Forbes.
In a story on CNBC.com posted in October of 2013, Lasry was noted to have a minority stake in the Brooklyn Nets. The story listed Lasry as one of many hedge fund managers with minority stakes in sports franchises.
Simmons also noted that as of Wednesday, Edens and Lasry were expecting to have their sale voted on by the NBA t next week's Board of Governors meeting. TMJ4's Lance Allan reported earlier that could be when a decision comes down regarding a possible sale. The vote would take place Thursday, April 17.