SBD/December 16, 2010/Facilities

Bradley Center Sees Boost In Revenue In Latest Fiscal Year

The Bradley Center, "fueled by hosting the first round of the NCAA tournament, more concerts and the Milwaukee Bucks' return to the NBA playoffs," recorded a 12% increase in revenue in its latest fiscal year, according to the Milwaukee BUSINESS JOURNAL. The arena had total operating revenue of $14.8 million in its '10 FY, ended June 30, up from $13.2M in FY '09. It "reported a net loss" of $2.02M, which included $2.8M in "depreciation expenses, as compared with a net loss" of $4.09M, including $2.9M in depreciation expenses, in FY '09. The Bradley Center overall "held 170 events during the fiscal year, drawing 1.6 million people." The arena in FY '10 "provided the Bucks, the building's main tenant, with $5 million in shared revenue from suite, concessions and merchandise sales." The venue "currently owes the Bucks $8.5 million, which will be paid out over the next several years" (BIZJOURNALS.com, 12/15). In Milwaukee, Don Walker notes the Bucks and the Bradley Center "have a year-to-year lease," and the Bucks "pay no rent and get 27% of suite, food and other concession revenue." The arena and the team are "negotiating a lease that would date back to Sept. 30 of this year" (MILWAUKEE JOURNAL SENTINEL, 12/16).
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