Bucks Ink Deal For Final Season At BMO Harris Bradley Center, Name New D-League Team
BMO Harris Bradley Center has "reached an agreement on a lease" for the Bucks' last year at the arena, a deal "necessitated by the expiration of its previous lease," according to David Schuyler of the MILWAUKEE BUSINESS JOURNAL. The deal for the '17-18 season will "provide some relief" for the venue for the "costs winding down and closing up the downtown Milwaukee facility." In the past, the arena paid the Bucks $2.1M a year from "revenue from suite leases," but a payment under the final lease "will only be made after those closing costs are met." The arena also is "not required to share a portion of additional revenue from any playoff games" at the venue "unless all the wind-down costs and closing expenses are met." BMO Harris Bradley Center President & CEO Steve Costello said that other than those modifications, the new lease extension is "very similar to the previous agreement that expires in September" (BIZJOURNALS.com, 6/8). In Milwaukee, James Nelson notes as in past years, the Bucks "don't pay anything in rent" to the publicly owned arena. The yet-to-be-named new Bucks arena is "expected to open in time" for the '18-19 season (MILWAUKEE JOURNAL SENTINEL, 6/9).
GATHER THE HERD: The Bucks on Thursday "announced a name for their new D-League club in Oshkosh." In Wisconsin, Nate Beck in a front-page piece noted the name of the club will be the Wisconsin Herd, as in a "herd of deer, branded as a statewide" D-League team. There is "no logo for the team yet." That will be "unveiled at a June 22 event in Oshkosh" to coincide with the NBA Draft. After the announcement, the Bucks "will host a party to watch draft picks" (Oshkosh NORTHWESTERN, 6/9). In Milwaukee, Matt Velazquez noted the Herd nickname "ties into other projects the Bucks have undertaken since their ownership change" in '14. Additionally, the Bucks "created Head of the Herd LLC" (JSONLINE.com, 6/8). BMO Harris Bank also has been named the first major partner of the team and will be the jersey sponsor (THE DAILY).