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Save Our Bucks

The Elements of the Deal

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The news leaked out earlier this afternoon. First from local Milwaukee talk radio personality Mark Belling and then quickly followed up by the reporters at the Milwaukee Journal Sentinel. The elements of a deal are in place to finance a new Milwaukee arena complex.

We are going to give it our best shot at explaining what the key moving pieces are and what to look for next. Before we begin, we’d like to offer our condolences to the family of Don Walker, the MJS reporter covering the arena issue, who passed away unexpectedly last week of a heart attack at the age of 62. Don and I (your SOB editor) had many email conversations on all things Milwaukee Bucks and the arena project over the past two years. I had known Don from assisting him with some prior stories on Miller Park many years ago. He was a very hard working reporter who was respected by all. As the excitement of the arena takes shape, we do so not only without Don, but also Bradley Center Chairman Marc Marotta, who unexpectedly passed away last month as well. The sad irony is that a key driver of the project (Marotta) and the key reporter covering the project (Walker) are not with us to shepherd things as we enter the home stretch. That said, we know they will be there in spirit when the first Bucks home game is played at the new building. Condolences for the families of both men.

Not a Done Deal Yet

When the specific details are announced in the next week, it is important for Bucks fans to realize that this is simply “the plan” for financing the new arena. This plan has many moving parts and will need a number of different constituencies to sign off on things. If some of these groups fail to go along with the plan, there might not be an arena. Thus it is critical that arena supporters convey to your elected representatives in the coming weeks that you want them to support the project.

Here are the important takeaways based on the deal specifics as outlined by MJS reporters Dan Bice and Patrick Marley this afternoon: Continue reading →