Marc Lasry Rumors

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That arena deal is not yet in place, even though Bucks owners have promised $150 million and Kohl pledged $100 million, and they’re counting on state, city and county government to contribute the remaining half for a $500 million downtown arena. But getting public funding for pro sports buildings is a drawn-out political process, difficult to navigate and not always popular. Team executives are more than hopeful a new arena will be built, and NBA Commissioner Adam Silver recently said he is confident an arena deal will be reached. Last week, the Bucks released an artist’s renderings of all-purpose arena in a new sports and entertainment district. No site has been chosen for the arena, but there is available land north of the Bradley Center. It’s a logical location.
The Bucks would like the funding package in place this summer and a shovel in the ground in September or October. Ownership has added local minority partners, and earlier this year the Bucks staff moved into new offices at Schlitz Park. It is a modern, wide-open office space to accommodate additional hires, adding new jobs mostly in ticket sales but also to marketing and communications departments. They are moving forward under the idea that a new arena will be built.
Negotiations are under way among the Milwaukee Bucks, city and state officials on how to pay for a $500 million new arena or face franchise relocation. The Bucks’ current owners, Marc Lasry and Wes Edens, have committed $150 million, and the former owner, Herb Kohl, has committed $100 million. Republican Gov. Scott Walker, a presidential hopeful, has proposed borrowing $220 million, but his party’s legislature is fighting him on it and wants the state’s contribution to be closer to $150 million.