According to Bucks president Peter Feigin, Wisconsin lawmakers have two options: approve the $250 million proposal which will pour funding into the building of a new arena in downtown Milwaukee or let the team move to another city. While speaking at an informational hearing for the Joint Finance Committee, Feigin revealed that when Wes Edens, Jamie Dinan and Marc Lasry bought the team last May, one of the provisions included starting construction on a new arena this year. If the Bucks do not start breaking ground by October or November, the team president believes the NBA will buy back the franchise and move them to "Las Vegas or Seattle."
In 2017, the Bucks' lease of the BMO Harris Bradley Center comes to an end and the league "does not want the Bucks to extend the lease in an inadequate facility." The proposal calls for the aforementioned $250 million in public funding which will be matched by current team owners Edens, Lasry and Dinan, as well as former owner Herb Kohl. Additional financial assistance would be expected to come from Milwaukee County, the city of Milwaukee and the Wisconsin Center District for $55 million, $47 million and $93 million, respectively.
Milwaukee Business Journal reports "the state Senate could take up the bill as early as Tuesday."
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