Report: Michael Jordan’s bid to buy Bucks fell apart because then-owner Herb Kohl was worried about team moving after sale
Chicago Bulls legend and NBA Hall of Famer Michael Jordan tried to buy the Milwaukee Bucks in 2003, but the owner at the time, Herb Kohl, backed out of selling the team to MJ because he was afraid of Jordan moving the team out of Milwaukee, according to Joe Vardon of The Athletic.
Jordan’s failed attempt to buy the Bucks didn’t stop him from becoming an NBA owner, though, as “His Airness” became an investor in the Charlotte Hornets (then the Bobcats) in 2006 and became the controlling owner in 2010.
Except, the deal fell through before it got to the NBA for approval.
Two sources with knowledge of the negotiations between Kohl and Jordan said the former Bucks owner ultimately walked away in part because of concerns that Jordan, with no ties to the city, might not keep the team in Milwaukee, preferring perhaps to move the team closer to the Wisconsin-Illinois line.
The Bucks are now owed by New York-based billionaires Wes Edens and Marc Lasry, along with Jamie Dinan, and Mike Fascitelli. Kohl agreed to sell a majority interest of the team to Edens and Lasry in 2014.
Jordan grew up in North Carolina and loves Charlotte. It looks like everything worked out for the best.