Wisconsin state senators yesterday "struck a bipartisan deal" and approved $250M "in public subsidies for a new arena" for the Bucks, according to Stein & Marley of the MILWAUKEE JOURNAL SENTINEL. The measure "passed 21-10 and goes to the Assembly, which like the Senate is controlled by Republicans." No date has been set for an Assembly vote, but "for the first time in months, the proposal has momentum." The plan "would preserve Milwaukee's stake" in the NBA "but at a cost to state, city and county residents," who ultimately would pay $400M, when accounting for interest over 20 years. State Sen. Lena Taylor said, "This deal has taken a lot of work, but the Bucks are big bucks for Wisconsin." Senators first "adopted a 12-page amendment to the proposal" that included "a $2 surcharge on all tickets at the BMO Harris Bradley Center." There is currently a $1.50 surcharge "on tickets $12 and under." The surcharge on tickets "above that is $2." Under the amended bill, $1.50 of the $2 surcharge "would go to the Wisconsin Center District and $0.50 would go to the state." The state's share of the surcharge "would give it about $500,000 a year to help cover" the $4M a year it "would be required to contribute to the arena." The Bucks opposed the ticket surcharge, but team President Peter Feigin said the Senate vote "is the first major step" toward a new arena (MILWAUKEE JOURNAL SENTINEL, 7/16). In Milwaukee, Rich Kirchen noted the Bucks face an "NBA deadline to play in a much-improved home arena" by fall '17. Team execs have said that the new arena immediately north of the BMO Harris Bradley Center "will take two years to construct." The Assembly is "considered more likely to approve the arena-funding plan, but again some votes may be needed from the minority Democratic Party" (BIZJOURNALS.com, 7/15).
DWINDLING HOPE FOR SEATTLE: In Seattle, Geoff Baker writes yesterday's vote in Milwaukee signaled that it is "going to be 'hockey first' in Seattle, or no arena at all." The vote "all but ends any hope of an NBA team relocating to Seattle any time soon." Arena builders in Seattle "should have been looking at 'NHL first' a while ago," as that has been the "likeliest scenario for getting a team" to the city. It is now time for Seattle-based hedge fund manager Chris Hansen and would-be NHL partner Victor Coleman "to reach a 'hockey-first' financial arrangement for a Sodo District arena" (SEATTLE TIMES, 7/16).
