![]() Kohl also chipped in $100 million of his own money to fund a new arena for the team in Milwaukee. ![]() The pair of billionaires reportedly paid $550 million for the team. ![]() After almost 30 years of ownership, Kohl sold the team to Marc Lasry, the CEO of Avenue Capital Group, and Wesley Edens, co-founder of Fortress Investment Group. Kohl purchased his hometown team, the Milwaukee Bucks, for $18 million in 1985. He also became heavily involved in professional basketball. Kohl sold the company in 1979, and began a decades-long career investing in real estate and the stock market. Kohl became president of his family-owned business in 1970, which included dozens of grocery stores and the Kohl’s department store chain. Herb Kohl, a retired Wisconsin Senator, businessman, and former owner of the Milwaukee Bucks died on Wednesday at age 88 after a brief illness. ![]()
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