The Milwaukee Bucks are an American professional basketball team based in Milwaukee. The Bucks compete in the National Basketball Association (NBA) as a member of the Central Division of the Eastern Conference. The team was founded in 1968 as an expansion team, and play home games at Fiserv Forum. Former U.S. Senator Herb Kohl was the long-time owner of the team, but on April 16, 2014, a group led by billionaire hedge fund managers Wes Edens and Marc Lasry agreed to purchase a majority interest in the team from Kohl, a sale which was approved by the owners of the NBA and its Board of Governors one month later on May 16. The team is managed by Jon Horst, the team's former director of basketball operations, who took over for John Hammond.