- Associated Press - Wednesday, April 16, 2014

MILWAUKEE (AP) - Former Sen. Herb Kohl has called a news conference to discuss the ownership of the Milwaukee Bucks and the team’s future.

Kohl has owned the Bucks since 1985.

He said in December that he was looking for new investors in the Bucks in hopes of building a new arena. He said then that any partners would have to be committed to keeping the team in Milwaukee.

The 79-year-old Kohl retired from the U.S. Senate in January 2013. He has said he’s in good health but wants a long-term plan for the Bucks‘ future.

The team says in a statement that there will be a “major announcement” Wednesday afternoon.