MU's Lovell endorses new arena, wants more detail on finances

[Tugg Speedman]

MU's Lovell endorses new arena, wants more detail on finances

http://www.jsonline.com/blogs/sports/274544211.html?ipad=y

In his first detailed comments concerning the debate over a new, multipurpose arena, Marquette President Michael R. Lovell said Tuesday that it was important to build a new facility to replace the BMO Harris Bradley Center.

"I would hate to see the basketball franchise leave," Lovell said in an interview with the Journal Sentinel shortly after he formally introduced Bill Scholl as the university's new athletic director. "That would send the wrong message about what we are as a city."

Lovell added that Marquette, which has had a long run with the BMO Harris Bradley Center, "needs to be at the table" when it comes to discussion of a new arena. Specifically, he said Scholl would represent Marquette on the Cultural and Entertainment Capital Needs Task Force.

"Bill will be a thought leader," Lovell said.

Rana Altenberg, Marquette's vice president for public affairs, is a member of the panel. Larry Williams, Marquette's former athletic director, also was a member before he left the university.

Lovell said a part of recruiting top-flight student athletes to the men's basketball program includes the lure of being able to play in a NBA arena. He said recruits often were given tours of the BMO Harris Bradley Center to impress upon them that they would be playing in the same building as members of the Milwaukee Bucks.

Lovell also said he and Scholl hoped to meet soon with Bucks owners Wes Edens and Marc Lasry.

Is Marquette prepared to make a financial commitment toward a new arena?

Said Lovell: "We are more than willing to do that once we know and understand the finances. We don't know the profit and loss. One of the things that we struggle with at the Bradley Center is we just get gate revenue. We don't get parking and concessions.

"I don't want to overcommit the university if there are not revenue streams coming back."

[🏀]

Put up some upfront cash and get a bigger chunk of the return. Winners on all sides.

[Daniel]

I think when they are talking about $600 million and who's throwing in $100 etc. - hard for a private university to compete on that level. A few million maybe but tens of millions is out of our league. Thetis in so few and it's drops in the ocean. But who knows.

[GGGG]

I think Lovell is playing nice cause he has to.  But when push comes to shove, I doubt he is going to commit Marquette to a significant payment.  He has no need to.  The BC works fine for those purposes.

Put up some upfront cash and get a bigger chunk of the return. Winners on all sides.

How much cash?  From where?

[🏀]

How much cash?  From where?

It's all a negotiation, keep talking money and stay at the table.

At the end of the day, it may be a very little amount or at most a modest amount. I'm sure the owners will be willing to take whatever they can get.

[GOO]

It's all a negotiation, keep talking money and stay at the table.

At the end of the day, it may be a very little amount or at most a modest amount. I'm sure the owners will be willing to take whatever they can get.

It has always been sad that we get zero from concessions and parking and that money essentially goes to the Bucks.
MU is playing this right.  They can estimate how much the concession and parking money are worth, less some rental fee, and what the income would be to MU.  If MU can get a decent return on the investment for some cash upfront, go for it and put some $ in up front.  If we are not getting a decent portion of this stream of income, then put zero in and save the money to build an on campus facility someday. 

This is the chance to cut a decent deal for MU.  If the deal is the same as before, then there is no way we should put any significant money in, other than for the cost of a locker room for MU. 

[🏀]

It has always been sad that we get zero from concessions and parking and that money essentially goes to the Bucks.
MU is playing this right.  They can estimate how much the concession and parking money are worth, less some rental fee, and what the income would be to MU.  If MU can get a decent return on the investment for some cash upfront, go for it and put some $ in up front.  If we are not getting a decent portion of this stream of income, then put zero in and save the money to build an on campus facility someday. 

This is the chance to cut a decent deal for MU.  If the deal is the same as before, then there is no way we should put any significant money in, other than for the cost of a locker room for MU. 

+1.

[mu03eng]

I think Lovell is playing nice cause he has to.  But when push comes to shove, I doubt he is going to commit Marquette to a significant payment.  He has no need to.  The BC works fine for those purposes.

Depends on what happens with the BC.  If a new stadium is built are we really going to support the US cell(or whatever they call that panther cesspool these days), the BC, and the new stadium?  Does that even make sense?

I'm not necessarily advocating MU pony up some cash, but assuming the BC is around to continue as is seems a poor assumption.

[GGGG]

Depends on what happens with the BC.  If a new stadium is built are we really going to support the US cell(or whatever they call that panther cesspool these days), the BC, and the new stadium?  Does that even make sense?

I'm not necessarily advocating MU pony up some cash, but assuming the BC is around to continue as is seems a poor assumption.

I was working with the assumption that if a new arena is not built, the BC works just fine for MU's purposes.

[warriorchick]

Dr. Lovell is playing this perfectly.  He said Marquette will participate if it makes economic sense for the University.

It's basically what I said we should do in my post in the other thread.  The guy's a pretty astute businessman for an enginerd.  

[mu03eng]

Dr. Lovell is playing this perfectly.  He said Marquette will participate if it makes economic sense for the University.

It's basically what I said we should do in my post in the other thread.  The guy's a pretty astute businessman for an enginerd.  

Hey we're people too....really weird people, but people nonetheless.   

[mu03eng]

I was working with the assumption that if a new arena is not built, the BC works just fine for MU's purposes.

Right, but are you also assuming the Bucks are still playing at the BC or have left town?

If the Bucks stay and no arena is built I'm on your path.  If the Bucks leave, the equation changes, because the BC needs a certain revenue stream to remain operational.  Without the Bucks, does the BC degrade faster(less spent on upkeep) or does MU have to contribute more in rent to make up the short fall?

[GOO]

Depends on what happens with the BC.  If a new stadium is built are we really going to support the US cell(or whatever they call that panther cesspool these days), the BC, and the new stadium?  Does that even make sense?

I'm not necessarily advocating MU pony up some cash, but assuming the BC is around to continue as is seems a poor assumption.

Frank Gimbel or whatever his name is that treats the Cell like his newborn child, has to be replaced.  I know he is a "mover and shaker" in Milwaukee, but he is too emotionally attached to the US Cell/Panthers.  That place has to go, and he seems to be the only one defending it.  Instead he is putting in a new scoreboard and new seats for the place so the Panthers can have a couple of thousand fans show up.  Waste of money.  It can't make economic sense.  Put it towards the demolition costs or towards keeping the BC viable for longer.

Someone has to get this guy out of the way in any decisions that are made.

[NersEllenson]

It has always been sad that we get zero from concessions and parking and that money essentially goes to the Bucks.
MU is playing this right.  They can estimate how much the concession and parking money are worth, less some rental fee, and what the income would be to MU.  If MU can get a decent return on the investment for some cash upfront, go for it and put some $ in up front.  If we are not getting a decent portion of this stream of income, then put zero in and save the money to build an on campus facility someday. 

This is the chance to cut a decent deal for MU.  If the deal is the same as before, then there is no way we should put any significant money in, other than for the cost of a locker room for MU. 

Bingo.  Somebody gets it.  (In addition to Lovell.)  You can tell Lovell isn't an academic/nor priest as a leader.  He gets business and negotiation.  Very intelligent comments he made, and very intelligent position.

[mu03eng]

Frank Gimbel or whatever his name is that treats the Cell like his newborn child, has to be replaced.  I know he is a "mover and shaker" in Milwaukee, but he is too emotionally attached to the US Cell/Panthers.  That place has to go, and he seems to be the only one defending it.  Instead he is putting in a new scoreboard and new seats for the place so the Panthers can have a couple of thousand fans show up.  Waste of money.  It can't make economic sense.  Put it towards the demolition costs or towards keeping the BC viable for longer.

Someone has to get this guy out of the way in any decisions that are made.

I believe he was also the driving force behind the convention center cite and design, which was another horrible idea.

Bottom line, the Cell, BC, and convention center should all go and a combination facility of convention center, basketball court, hockey rink, major concert venue need to go in their place.  MU should absolutely be a part of that discussion if only to help influence it if not contribute directly to the effort.

[T-Bone]

We could threaten to pack up the school and move somewhere else until our demands are met. 

I wonder how long it will be until some school does that.

[Atticus]

So Lovell wants to see the numbers before making a decision which apparently illustrates business acumen rivaled only by Warren Buffet?

[Litehouse]

I believe he was also the driving force behind the convention center cite and design, which was another horrible idea.

Bottom line, the Cell, BC, and convention center should all go and a combination facility of convention center, basketball court, hockey rink, major concert venue need to go in their place.  MU should absolutely be a part of that discussion if only to help influence it if not contribute directly to the effort.

The obvious location is to tear down the MECCA and Milwaukee Theatre and build the new arena there connected to the convention center.  It's too bad they put money into both of those buildings recently, but they shouldn't let that short-term thinking impact the best long term interests of the city.

[Litehouse]

We could threaten to pack up the school and move somewhere else until our demands are met. 

I wonder how long it will be until some school does that.

Concordia in 1983 when they packed up and moved to Mequon.

[Johnny B]

Location may actually be a critical factor. If buildings need to be torn down then bring em down

[MUfan12]

Frank Gimbel or whatever his name is that treats the Cell like his newborn child, has to be replaced.  I know he is a "mover and shaker" in Milwaukee, but he is too emotionally attached to the US Cell/Panthers.  That place has to go, and he seems to be the only one defending it.  Instead he is putting in a new scoreboard and new seats for the place so the Panthers can have a couple of thousand fans show up.  Waste of money.  It can't make economic sense.  Put it towards the demolition costs or towards keeping the BC viable for longer.

Someone has to get this guy out of the way in any decisions that are made.

Gimbel is a disaster, and is using the Wisconsin Center District to try and keep some sort of relevance.

[MU111]

The obvious location is to tear down the MECCA and Milwaukee Theatre and build the new arena there connected to the convention center.  It's too bad they put money into both of those buildings recently, but they shouldn't let that short-term thinking impact the best long term interests of the city.

I agree that's one of the better locations.  As you mentioned though, the problem is that there is something like $25 million in debt remaining from the Theatre renovations several years ago.  The sad thing is those renovations were never needed in the first place, as the Theatre sits unused almost all of the year.  Some might remember that the only reason Gimbel bullied that project forward was because the Bradley Center was at the time discussing a stand alone concert venue of their own, and he wasn't going to allow that to happen.

[Litehouse]

Location may actually be a critical factor. If buildings need to be torn down then bring em down

That would be even better yet.  Tear down the whole convention center/Mecca/Milwaukee Theater area, build the new arena between Wisconsin and Wells, and put a convention center complex between the new arena and the Bradley Center linking everything together.  Then tear down the DMV building on Wells and put something in there connecting it to the Museum, and develop something on the empty lot between 4th and 5th connecting it to Grand Ave to revitalize that area.  That would really give downtown a shot in the arm.

[Ari Gold]

Frank Gimbel or whatever his name is that treats the Cell The Milwaukee Theatre like his newborn child, has to be replaced.  I know he is a "mover and shaker" in Milwaukee, but he is too emotionally attached to the US Cell/Panthers.  That place has to go, and he seems to be the only one defending it.  Instead he is putting in a new scoreboard and new seats for the place so the Panthers can have a couple of thousand fans show up.  Waste of money.  It can't make economic sense.  Put it towards the demolition costs or towards keeping the BC viable for longer.

Someone has to get this guy out of the way in any decisions that are made.

FIFY

I echo MUFan12's comment. Guarantee he's not renominated to the WCD Board

[MU111]

FIFY

I echo MUFan12's comment. Guarantee he's not renominated to the WCD Board

Unfortunately, he just was this summer:

http://urbanmilwaukee.com/2014/07/16/plenty-of-horne-gimbel-gets-reappointed-to-wisconsin-center-board/