The Milwaukee Bucks are digging deep to explore the franchise’s potential and all that could be made possible soon with the addition of seven new prominent business heads to the Bucks’ ownership circle.
The new owners include Michael Barber, the Chief Operating Officer for GE Healthcare, Virgis Colbert, a retired executive vice president of worldwide operations for Miller Brewing Co., Charles Harvey, a Johnson Controls vice president and president of the Johnson Controls Foundation; and Cory Nettles, founder and managing director of General Growth Capital.
The brain thrust will give existing owners (Wesley Edens, Marc Lasry and Jamie Dinan) a much needed backing, the immediate to which is said to be that of putting up a new arena to replace the 26 year old BMO Harris Bradley Center –one of the oldest arenas being played on by the NBA to date.
Of the new business leaders, five form the Partners for Community Impact (PCI). Apparently, it was the PCI group’s credentials which caught the Bucks organization eye, having been involved in previous urban economic development and renewal projects, something that the Bucks and the city sorely need. Hence, not only is the team part of the equation, but also the community that includes schools and other local recreation facilities.
The NBA has reportedly approved the ownership bid which also includes Gale Klappa (CEO of Wisconsin Energy Corp.) and that of Jon Hammes (managing partner for Hammes).
Aside from the planned new arena and other economic development opportunities, it seems interesting if the new Bucks decision-making body would also include that of retooling their player roster. The Bucks have not made any high-profile move which of course includes millions of dollars to lure in marquee superstars which should in all be another angle that could help the Bucks build on its new branding and identity carving niche.
Jabari Parker is no doubt the big name the Bucks have right now and perhaps the owners could (or will) take their cue from their as far as the team is concerned. The Bucks haven’t exactly been a team favorite and ending up in the cellar for quite some time now could all change if the new business heads could maneuver everything to get the franchise back on the right track.