POSTED: Jul 16, 2014 11:20 PM ET
MILWAUKEE (AP) — Brewers executive Teddy Werner is among a group of Milwaukee business leaders who have joined the Bucks' new ownership group.
The Bucks announced Wednesday that Werner and several other people had been cleared by the NBA Board of Governors to become a part of the ownership structure headed by Wesley Edens and Marc Lasry. Werner is the vice president of business development for Milwaukee's baseball team.
Edens and Lasry, both New York investment firm executives, recently purchased the team from former U.S. Sen. Herb Kohl for about $550 million. Edens says in a release that they had felt all along that part of the rebuilding process for the Bucks ''would be dependent on having important leaders from Milwaukee join the ownership of the organization.''