Sloan ranks third all-time in career wins with 1,221, and coached the Jazz for 23 years before resigning in February 2011.
The Bucks have been in the market for a new coach after not retaining interim coach Jim Boylan. Milwaukee made the playoffs for the first time in three years despite its third straight losing season, but was swept in the first round by the Miami Heat.
With Sloan out of the running for the Bucks position, it leaves Houston Rocket assistant coaches Kelvin Sampson and J.B. Bickerstaff among the group of candidates, along with former Portland Trail Blazers head coach Nate McMillan and Los Angeles Lakers assistant coach Steve Clifford.
Sampson and Bickerstaff are also leading candidates for the Detroit Pistons head coaching job as well. However it turns out, it looks like the Rockets can possibly lose at least one of their top assistant coaches.