There is no indication that San Antonio Spurs Chairman Peter Holt is looking to cash out anytime soon. But Holt, also one of his team’s biggest fans, can’t help but count dollars signs in his sleep now that the Milwaukee Bucks have been sold for an outrageous sum.
Herb Kohl, president and owner of the Bucks, which have one NBA title, earned back in 1971, announced on Wednesday that he has entered into a signed purchase agreement to transfer ownership of the team to hedge fund executives Wesley Edens and Marc Lasry. The sale price, according to the Bucks: Approximately $550 million.
This season, the Bucks will finish last in the Eastern Conference. With one game to play, Milwaukee’s record is 15-66.
The Spurs are 62-19 and have already clinched the No. 1 seed and home-court advantage throughout the playoffs. San Antonio has won four NBA titles in the Holt era and nearly celebrated a fifth championship last spring.
How much should the Spurs be worth? In January, Forbes estimated the value of the franchise was $660 million.
It might be time for a recalculation. The publication had placed the value of the Bucks at $405 million three months ago — or about $145 million below the eventual sale price.
Based on the news out of Milwaukee, the Spurs may be worth well over $660 million — thanks to the Bucks.
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