In a stunning turnaround, Sen. Herb Kohl (D-Wis.) said Sunday that he had decided against selling the Milwaukee Bucks to Michael Jordan and would "continue to own them, improve them and commit them to remaining in Wisconsin."

Kohl's abrupt announcement came after weeks of intense local and national speculation that the retired basketball superstar had reached a tentative agreement to buy the team or was about to do so. The announcement would have to be considered a huge disappointment for Jordan.

Kohl's announcement capped an afternoon in which the Bucks released general manager Ernie Grunfeld from the last year of his contract, allowing Grunfeld to pursue what is expected to be a similar position with the Washington Wizards. That move immediately raised questions about the future of the basketball operations of the franchise.

Assistant general manager Larry Harris, the son of former Bucks coach Del Harris, was named acting general manager.

Jordan ended his playing career this season with the Wizards, then was fired by owner Abe Pollin as Jordan was poised to take over that team's basketball operations. Jordan had high hopes of becoming an owner in the National Basketball Association.