NBA franchises have become highly valued and sought-after assets in recent years. As a result, NBA ownership is a premier and competitive group, limited to just 30 members and rarely welcoming new members. Although the owner of an NBA team plays a critical role in the team’s success, they often remain in the backdrop.
Who owns the Bucks?
The Milwaukee Bucks ownership has changed over the years. This article will take a closer look at the money and power behind the Milwaukee Bucks ownership, including the history of the team’s ownership, the current ownership group, and the financials of the franchise.
It’s worth noting that following the money behind the ownership of any team in any sport can be complex. The ownership structure can involve multiple individuals and entities, and financial details are not always made public.
However, looking at the values of the team, revenues, and how the team is performing on and off the court can give us a general idea of the financial health of the team and the effectiveness of the ownership group in managing the franchise.
The History of Bucks Ownership
The Milwaukee Bucks were founded in 1968 and have had a number of owners over the years. The team was originally owned by Wesley Pavalon and Marvin Fishman, who purchased the team for $6.5 million. Since then, the team has been owned by a number of different individuals and groups, including Herb Kohl, Wesley Edens, and Marc Lasry.
In 2015, the former owner of the team, Herb Kohl, put it up for sale. Although there was speculation about the team moving to Las Vegas, Wes Edens and Marc Lasry purchased it for $550 million, with a commitment to keeping the team in Milwaukee and building a new stadium. This move proved to be very successful, as the Bucks have since had one of the most prosperous periods in their history.
In 2021, Giannis Antetokounmpo led the team to their first championship in over 50 years.
The Financials of the Bucks
The Milwaukee Bucks are a profitable team and have seen a significant increase in value since the current ownership group took over. Forbes valued the team at $1.3 billion in 2020, which represents a significant increase from the $550 million that Edens and Lasry paid for the team in 2014.
The value of the Milwaukee Bucks franchise of the National Basketball Association rose to 2.3 billion U.S. dollars in 2022. This denoted an increase of 21 percent over the previous year, when the franchise had an estimated value of 1.9 billion U.S. dollars.
The team’s profitability is driven by a number of factors, including ticket sales, television deals, and sponsorships. The team’s new arena, Fiserv Forum, has also been a major source of revenue for the team. The Milwaukee Bucks’ new arena has been a major source of revenue for the team since its opening in August of 2018. Built by the renowned architecture firm Populous, Fiserv Forum has become renowned for its cutting-edge amenities, such as a state-of-the-art scoreboard, luxury suites and a rooftop terrace. As such, the arena has become a popular destination for music and entertainment events, hosting a variety of high-profile concerts and sporting events.
Fiserv Forum is owned by Fiserv, Inc., a financial services technology company based in Wisconsin. It is headed by CEO Frank Bisignano, who is estimated to earn an annual compensation of $100 million. In order to ensure the success of the company and its investments, Fiserv has signed a new contract with Bisignano that will see him serve as president and CEO until 2027.
RELATED: How much are the Bucks worth?
Milwaukee Bucks Ownership (current)
- Jamie Dinan, Hedge fund manager and founder of York Capital Management
- Wes Edens, Co-founder of the Fortress Investment Group LLC, based in New York City.
- Giacamo Falluca, CEO Palermo’s Pizza.
- Michael D. Fascitelli, former CEO of Vornado Realty Trust.
- Jon Hammes, Co-chair of fundraising for Scott Walker‘s 2016 presidential campaign.
- Jeffrey A. Joerres, Executive Chairman of ManpowerGroup.
- Jim Kacmarcik, President of Kapco, a metal stamping company in Grafton, Wisconsin.
- Craig Karmazin, CEO of Good Karma Brands, which owns radio stations WTMJ (the team’s flagship station), WKTI and WGKB in the Milwaukee market.
- Ted Kellner, Chairman of the board and CEO, Fiduciary Management, Inc. and formerly of the Marshall & Ilsley Corporation board of directors.
- Gale Klappa, Executive Chairman Wisconsin Energy Corporation.
- Michael Kocourek, President of Mid Oaks Investments
- Partners for Community Impact
- Michael Barber, Chief Operating Officer of GE Healthcare
- Valerie Daniels-Carter, Co-Founder, President and CEO of V&J Holding Companies
- Virgil Colbert, Former Miller Brewing Company Executive Vice President
- Charles Harvey, Chief Diversity Officer and President of the Johnson Controls Foundation
- Cory Nettles, Generation Growth Capital Founder and Managing Director
- Herb Kohl, Former United States Senator for Wisconsin and Former Majority Owner of the Bucks
- Marc Lasry, CEO and Co-Founder of Avenue Capital Group
- Keith Mardak, Chairman and CEO of Hal Leonard Corporation, a sheet music company.
- Agustin Ramirez, Executive Chairman of Waukesha-Based HUSCO International Inc.
- Austin Ramirez, President and CEO of HUSCO International.
- Adam Stern, Minority owner of the Milwaukee Brewers
- Marc Stern, Minority owner of the Milwaukee Brewers, Chairman of TCW Group Inc.
- Teddy Werner, Milwaukee Brewers vice president of Business Development and son of Boston Red Sox Chairman Tom Werner.
- Aaron Rodgers, American football Player for the Green Bay Packers of the National Football League (NFL).
The Future of the Milwaukee Bucks Ownership
What does the future hold for the Milwaukee Bucks’ ownership? That answer remains uncertain, but the current ownership group has expressed its commitment to the team and the city of Milwaukee. They have invested in the team’s infrastructure and future, opening up opportunities moving forward. However, there are rumors that Cleveland Browns owners Dee and Jimmy Haslam are in talks to buy a minority stake in the team.
RELATED: Is Marc Lasry selling part of his stake?
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