The BMO Harris Bradley Center reported a net loss of $1.9M in the FY ending June 30, "due in large part to a disastrous" season by the Bucks, "a decrease in state grants and a mediocre concert season," according to figures cited by Don Walker of the MILWAUKEE JOURNAL SENTINEL. The facility now "has debt totaling" nearly $20M. The net loss, which includes depreciation of $3.3M, was a decline of $3.1M "compared with the prior fiscal year." Total operating revenue was $18M, "compared with" $20.7M for FY '13. Facility President & CEO Steve Costello said that the arena "continues to be in a stable fiscal position," and he hopes that a "reinvigorated Bucks franchise and an uptick in concerts will translate into a better year in the current fiscal year." Costello said that the drop in operating revenue "was due to the Bucks' drop in attendance, a decrease in state grant revenue and a slower concert season." The Bucks' attendance last season totaled 552,967, last in the NBA. Concerts "also dropped to seven, compared with an average of 10 to 12." Costello said that the drop in revenue "was offset" by the NCAA men's basketball tournament. The NCAA tournament "will return to the arena" in '17. Meanwhile, Costello added that while debate over a proposed new arena carries on, the BMO Harris Bradley Center's "continued operation over the next three or four years is critical" (MILWAUKEE JOURNAL SENTINEL, 12/12).
