The National Basketball Association (NBA)'s board of governors has unanimously approved the $550 million sale of the Milwaukee Bucks to hedge fund managers Wesley Edens and Marc Lasry, the league announced on Thursday.
Lasry and Edens bought the Bucks last month from businessman and former U.S. Senator Herb Kohl, becoming the latest Wall Street financiers to own a sports club.
"We are pleased that Wes Edens and Marc Lasry have been approved as the new owners of the Milwaukee Bucks," NBA Commissioner Adam Silver said in a statement.