MLB Giants Payroll To Top $200M For First Time Mitt Romney In Talks With Yankees For Small Stake Verizon, Lions Make Upgrades To Wi-Fi At Ford Field Redskins Still Silent On Cooley's Comments Wilkens On Panel To Explore Renovating KeyArena Sounders Approved To Add Star On Replica Jerseys Facility Notes Montgomery Biscuits Being Sold To Lou DiBella's Group Canucks Owners Interested In CFL B.C. Lions First Data Lands Rights To Mets' Fla. Complex
SBD/October 23, 2012/Facilities
Bucks Sign Six-Year Lease Extension With BMO Harris Bradley Center
Published October 23, 2012
The BMO Harris Bradley Center yesterday announced that it has "reached agreement" with the Bucks on a "new, six-year lease through Sept. 30, 2017," according to Don Walker of the MILWAUKEE JOURNAL SENTINEL. The lease extension, which is "backdated to Oct. 1 of last year and was expected, is the longest lease between the center and the franchise in more than 10 years and the first multi-year extension since 2007." Arena officials said that terms of the lease extension "are substantially the same as in past years" and "will not escalate during the six-year term." The Bucks will "continue to receive 27.5% of concession sales and 13.75% of food and beverage sales in the suites, as well as 30% of merchandise sales at Bucks games." Additionally, the Bucks will "continue to receive 19% of net suite revenue and a suite revenue share of $2.1 million annually." They "do not pay rent at the facility" (MILWAUKEE JOURNAL SENTINEL, 10/23). Walker in a separate piece noted NBA Commissioner David Stern was asked if the new lease gave him "an assurance that Milwaukee was serious about keeping the Bucks in Milwaukee now and into the future." The answer via a league spokesperson "was yes." The NBA knows "full well there are cities across the country that would love to have an NBA franchise." With that "in mind, Stern pays attention to what some of the smaller franchises are doing to stay successful." The next "big step, of course, is to determine whether a new arena is warranted." For now, the NBA "appears to like what Milwaukee's business community and the BMO Harris Bradley are doing" (JSONLINE.com, 10/19).
BUCK STOPS HERE: In Boston, Gary Washburn wrote Bucks GM John Hammond is "attempting to buck the trend, and beat city hall, or in basketball terms, lead the Bucks to the playoffs with a roster full of draft picks, prospects from other clubs, and players acquired in trades." Milwaukee is "generally not on the list of many top free agents." It is "not a destination location for a player in his prime looking to cash in on previous success and live a lavish lifestyle." The Bucks are a "prime example of a smaller-market team, a place from which players look to depart for Miami, New York or Los Angeles." They tend "not to go there" (BOSTON GLOBE, 10/21).