Bradley Center Operating Revenues Drop For FY '12; NBA Lockout Partially To Blame
Operating revenue at the BMO Harris Bradley Center "plunged in fiscal year 2012, the result of the NBA lockout and reduced state assistance," according to data cited by Don Walker of the MILWAUKEE JOURNAL SENTINEL. Operating revenue for the year that ended June 30 totaled $12.6M, compared with $16.3M the year before. The NBA lockout last season "forced the cancellation" of eight Bucks home games. In addition, the center "received $581,000 from the state as reimbursement for capital maintenance and repair, compared" with $3.6M in FY '11. Including depreciation of $2.7M, the arena "reported a net loss" of $3.1M in the fiscal year. In the previous fiscal year, the net loss was "just over $304,000." The reduced state assistance "occurred because the BMO Harris Bradley Center drew on the bulk" of a $5M grant in the previous fiscal year. The new financial report "does not take into account a commitment" of $18M over six years by a "consortium of sponsors, including BMO Harris Bank and 25 other companies and organizations." The report also does "not include an additional" $5M state grant approved in September '12 (MILWAUKEE JOURNAL SENTINEL, 2/11).