Milwaukee Bucks owner Herb Kohl looks to broaden team ownership

By: CBS58 Staff

Posted: Dec 16, 2013 6:38 PM CDT | Updated: Nov 5, 2014 1:00 PM CDT

MILWAUKEE -- Milwaukee Bucks owner Herb Kohl is looking to \"broaden team ownership\" in order to strengthen the franchise and keep the team in Milwaukee. Kohl says he the Bucks don't get new investors and a new arena, the team will leave Milwaukee.

Kohl says it is imperative that Milwaukee gets a new 21st Century sports and entertainment facility in a timely manner. Kohl believes the new facility will be beneficial to the people who attend the nearly 200 events held each year at the BMO Harris Bradley Center.

Milwaukee Bucks player and Racine native Caron Butler has expressed interest in being part of the new ownership group.

Kohl explained he expects the process of finding new owners to take several months.