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Thursday, April 17, 2014

Westporter Lasry Buys Milwaukee Bucks

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Marc Lasry addressing a Milwaukee news conference on Wednesday. (CLICK TO ENLARGE) WestportNow.com photo from nba/bucks.com

Marc Lasry, the hedge fund titan who has a home in Westport’s Greens Farms area along with a Manhattan apartment, says he will be spending “a huge” amount of time in Milwaukee in the future.

Lasry, who is on Westport’s top 10 taxpayer list, and fellow financier Wesley Edens on Wednesday bought the Milwaukee Bucks professional basketball team for about $550 million from former U.S. Senator Herb Kohl. The purchase is subject to NBA approval, which is expected.

Lasry, whose specialty is investing in distressed companies, will feel at home with the Bucks. The team will finish the regular season with the NBA’s worst record and lowest home attendance.

Lasry and Edens agreed to keep the team in Milwaukee, which has only won one NBA title, in 1970-71. The Bucks reached the finals for the last time in 1974, losing to the Boston Celtics.

04/17/14 01:26 PM Comments (0) • Permalink Digg Favicon Email Favicon Facebook Favicon LinkedIn Favicon TwitThis Favicon
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