>>VIEW PDF on background for the financing the new arena
MMAC believes that building a new arena is necessary to keep Southeastern Wisconsin a vibrant and diverse entertainment destination for diverse, young talent. It's construction will also spur long-term catalytic development in downtown Milwaukee.
MMAC believes that building a new arena is necessary to keep Southeastern Wisconsin a vibrant and diverse entertainment destination for diverse, young talent. It's construction will also spur long-term catalytic development in downtown Milwaukee.
Facts surround the current BMO Harris Bradley Center:
- Support over 750 jobs - 170 full-time Bucks employees and 600 Bucks-related Bradley Center employees
- Occupies 80,000 square feet of space in downtown Milwaukee
- Constructed as a hockey venue, the current layout does not maximize premium seating options.
- Limited space for non-game day use for revenue makers such as restaurants, shops and tourist attractions.
- The results from studies conducted on potentially remodeling/retrofitting the existing arena found it to be cost prohibitive to remodel or retrofit for upgrades compared to constructing a new arena.
LOOMING DEADLINES
As a condition of the team's sale, the NBA stated that a new arena be built or the Bucks will be relocated to another city which means Wisconsin:
- Loses income taxes paid by Bucks employees (estimated $700+ million over next 30 years)
- Must still maintain the infrastructure of aged facility without a cornerstone tenant (estimated $120+ million cost over the next decade)
- Loses ancillary development and recognition of having NBA team (Priceless for attracting employees and tourists)
FINANCING OPTIONS
THE OWNERS
The Bucks new ownership group is committed to keeping
the team in Milwaukee.
Their dedication was shown with their pledge - along with former owner Herb Kohl - of $250 million towards a new facility. This donation is expected to cover roughly 50% of the cost of constructing a new arena.
The Bucks new ownership group is committed to keeping
the team in Milwaukee.
Their dedication was shown with their pledge - along with former owner Herb Kohl - of $250 million towards a new facility. This donation is expected to cover roughly 50% of the cost of constructing a new arena.
THE STATE
Gov. Scott Walker’s proposed state budget has $200+ million in state financing assistance for a new arena. It plans to use the future tax revenue stream created from Bucks players to back the state’s commitment. This revenue would be lost to the state if the team was forced to leave. The state proposal, which needs legislative approval, requires a minimum local funding commitment of $50 million.
Gov. Scott Walker’s proposed state budget has $200+ million in state financing assistance for a new arena. It plans to use the future tax revenue stream created from Bucks players to back the state’s commitment. This revenue would be lost to the state if the team was forced to leave. The state proposal, which needs legislative approval, requires a minimum local funding commitment of $50 million.
HOW DOES THIS BENEFIT WISCONSIN?
- A new arena would eliminate the state's Bradley Center burden. Without it, the State lawmakers will be forced to choose between: state taxpayers subsidizing the operation of a outdated facility -or- simply demolishing it
- We continue to be one of only 30 NBA teams worldwide - an irreplaceable marketing tool for businesses
- Saves up to 450 Wisconsin jobs
- Creates a 365-day destination for a variety of audiences. Examples include:
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- Staples Center & L.A. Live
- American Airlines Center & Victory Park |
HOW CAN YOU HELP?
- Use MMAC's online tool to send an email directly to your legislators telling them you support the new downtown arena.
- Add your name to the list of supports on Play It FowardWI Coalition website.
- Contact the MMAC Governmental Affairs team for more information on how you can get involved at 414/287-4127.