Uncategorized

Wes Edens: A Successful Investment in Sports History

On March 1st, 1985, Herb Kohl bought the Milwaukee Bucks for $18 million on this day in sports history. The team was struggling at the time and had not had a winning season in over a decade. However, Kohl saw potential in the market and believed that the Bucks could become one of the most successful teams in NBA history with the suitable investment.

 

 That prediction has certainly come true, as the Bucks have won one championship under Kohl’s ownership and made it to another Finals. In 2014, Wes Edens and Marc Lasry purchased the team from Kohl for $550 million – an investment that is already proving to be a success.

 

Herb Kohl may have started the turnaround for the Milwaukee Bucks by buying them in 1985 for $18 million, but Wes Edens took Herb’s vision and ran with it. In 2014, Kohl sold the team to Edens and Marc Lasry for a record $550 million. At the time, the Bucks were valued at $405 million, which made this the highest price ever paid for an NBA franchise.

 

What was Herb Kohl’s vision? The then-senator from Wisconsin wanted to turn the Bucks into a “world-class” organization, making Milwaukee a “destination city.” He accomplished the first part by hiring general manager Larry Harris who put together a team that won the NBA title in 2001. The second part was realized when Edens and Lasry bought the team.

 

Edens has a long history as a successful businessman. He is the co-founder of Fortress Investment Group, a private equity firm. He has also been involved in several other business ventures, including Brightline, an intercity passenger rail service in Florida. He is a part-owner of the Milwaukee Bucks.

 

 The Bucks are now one of the most valuable franchises in the NBA, and Edens and Lasry have pledged to invest an additional $100 million in the team to ensure success.

 

Edens’ investment in the Bucks is a prime example of how sports can be a successful investment vehicle. Not only does he stand to make a considerable return on his investment, but he is also helping make Milwaukee a more prosperous city. 

 

The Bucks are now a significant tourist attraction in the area, and their success has positively impacted the local economy. Edens has not only made a financial contribution to the team, but he has also contributed his time and energy, which has helped to make the Bucks one of the best teams in the NBA.

Thanks to his efforts, the team is poised for continued success in the years to come.