The Bradley Foundation has offered a $20M low-interest loan
for a new Brewers stadium, while WI Gov. Tommy Thompson said the
"surprise loan" met state requirements and would be part of a
financing plan he hoped to announce Saturday, according to this
morning's MILWAUKEE JOURNAL SENTINEL. Initially, the
Foundation's offer was "tempered with caution," as key officials
said it appeared to put the stadium board $20M above the $160M
borrowing ceiling set in a deal signed by the state, city, county
and team officials. But Thompson said they would structure the
loan so it would not be above the $160M "and it won't be paid out
of the taxpayers' money." Thompson said the loan would be paid
through income and lease payments from the Brewers. Team
President Bud Selig called the loan offer an "incredibly
positive, powerful development. ... It can only be a huge plus."
Foundation President Michael Joyce said the offer was made to end
the impasse over a $50M shortfall in funding for the $250M
facility (MILWAUKEE JOURNAL SENTINEL, 6/27).
