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SBD/April 22, 2014/Franchises
Sources: NBA Could Buy Bucks From Prospective Owners If No Arena Deal By '17
Published April 22, 2014
FUNDING COULD BE TOUGH TO FIND: In Milwaukee, Rich Kirchen writes despite the $100M pledges from Kohl and the prospective owners for a new arena, "scoring the balance of funding will be far from a slam dunk." The donations leave between $200-300M to be "raised through additional private funding sources and possibly public sources." Metropolitan Milwaukee Association of Commerce President Tim Sheehy thinks that the project will "require public financing." That could "include government sources that don’t directly come from taxpayer pockets such as a tax incremental financing district." But a sales tax "remains on the table as a possibility." Allen & Co. Managing Dir Steve Greenberg, whose firm was retained by Kohl to bring in new team investors, said that Edens and Lasry "may not lobby for public funding, but they will work on the planning, site and design for the new arena" (MILWAUKEE BUSINESS JOURNAL, 4/18 issue).