A report released this week shows that the Bradley
Center "sustained a net loss" of $3.2M in FY'99, "due in
large part" to the NBA lockout "and other changes that
directly benefited" the Bucks, according to Don Walker of
the MILWAUKEE JOURNAL SENTINEL. The report "adds fuel to
calls" by Bradley Center officials and members of a Greater
Milwaukee Committee task force studying the facility "that
improvements and changes are needed to the nearly 12-year-
old arena to make it financially viable and competitive."
The report "did not detail how much" the canceled NBA games
cost the arena. In FY'98, ad revenue for the facility was
$1.14M, but after the Bradley Center Board agreed to give
the Bucks the "primary right" to grant sponsorship and ad
rights to the arena, it "reported a mere" $193,670 in ad
revenue. Additionally, a "onetime payment" totaling $1.25M
was made to the Bucks as part of the team's sponsorship and
ad deal with the arena. Revenues for FY'99 totaled $14.2M,
down $2.6M, and expenses totaled $18M, a decrease of "just
over" $1M. Suite revenue represented $2.2M, a "decline of
nearly" $50,000 from FY'98 (MIL. JOURNAL SENTINEL, 4/26).
