Executive Transactions Herb Kohl Sells Bucks For $550M Rio Increases Budget For '16 Olympics Lexington Mayor Pushing Forward On Rupp Upgrades Judge Denies NFL Concussion Settlement Lakers RSN Ratings Reach New Low Nike, USATF Sign 23-Year Extension Names In The News Purdue Upgrading Ross-Ade Stadium Kohl Praised For Dedication To Milwaukee
SBD/September 19, 2013/FacilitiesPrint All
Bucks Owner Herb Kohl and other Milwaukee leaders for years have claimed that the BMO Harris Bradley Center is "outdated and not fit for an NBA team," and NBA Deputy Commissioner & COO Adam Silver yesterday "made the case clear," according to Rich Kirchen of the BUSINESS JOURNAL OF MILWAUKEE. Silver: "One obvious issue we all have to deal with is we need a new arena in Milwaukee." Silver toured the venue and "concluded it is too small and still falls short on amenities." He said, "Compared to other modern arenas in the league, this arena is a few hundred thousand square feet too small. It doesn't have the sort of back-of-house space you need, doesn't have the kinds of amenities we need. It doesn't have the right sort of upper bowl/lower bowl configuration for the teams frankly that Milwaukee wants to compete against." Silver added that league officials are "aware new NBA-quality arenas are being planned" in Seattle, Las Vegas and K.C. But Kirchen wrote while league officials are "happy to share the NBA’s specifications" for those venues, they "are not entertaining new franchises." Silver said that he "supports the efforts of Kohl and the Bucks to keep the team viable and in Milwaukee." He added that Kohl’s ownership is "one of the team’s great strengths and that Kohl is committed to keeping the team in Milwaukee" (BIZJOURNALS.com, 9/18). Kohl said getting an extension from the NBA to continue playing at the Bradley Center "was not an easy thing." He said that team officials "had to appear before a committee of NBA owners" who had the option of rejecting the Bucks' request for a 25-year extension. Kohl: "There was some opposition there. None of it was personal -- it was all a matter of good business in terms of what’s good for the NBA" (BIZJOURNALS.com, 9/18).
At least two NFL teams have spoken with the owner of Hollywood Park racetrack in Inglewood, Calif., to "see if the team can either buy the 260-acre property or get the owner to build a stadium," according to sources cited by Jason Cole of NATIONAL FOOTBALL POST. The NFL "likes the Hollywood Park site because it believes it could easily house two teams as well as studios and offices for NFL Network and possibly a west wing" of the Pro Football HOF. The sources said that the Raiders, Chargers, Rams and Jaguars "all have the ability to get out of their lease agreements either after this season or after the 2014 season." A source said of Stockbridge Capital Exec Managing Dir Terry Fancher, whose company owns Hollywood Park, "Fancher is a commercial developer. He either wants to build something on the location to make money himself or sell the property for a profit." Cole noted any team "hoping to buy the site would have to pay" more than $500M, and then "still have to build a stadium." A source said, "Fancher has no desire to be an owner or part-owner of a team and doesn't want to go in with anybody on a stadium project. So you’re talking about having to buy the land and add that cost on top of whatever it takes to build the stadium" (NATIONALFOOTBALLPOST.com, 9/18). CBSSN’s Doug Gottlieb said the Hollywood Park location is "absolutely practical" for an NFL team. He said, "I don’t believe the Raiders are coming back. I believe the Chargers are the ones most likely. ... The Chargers makes the most sense. They have a dilapidated stadium. They have a city that doesn’t have the financial means, doesn’t have the leadership with their mayor just recently stepping down. They’ve had opportunity after opportunity to build a stadium and yet they haven’t done it” ("Lead Off," CBSSN, 9/18).