MU not funding Arena up front

[MUfan12]

Per Woelfel on twitter, so it's anyone's guess if it's true.

Of course, the local mouthbreathers that think MU is flush with cash are saying the Bucks should block MU from using the building.

[GGGG]

If this rumor is true, I am 99% certain that the Bucks' owners knew about it before last week's announcement of their partnership. 

[MUfan12]

If this rumor is true, I am 99% certain that the Bucks' owners knew about it before last week's announcement of their partnership. 

No question about it. Between rent and gameday revenue, I'm guessing the BC gets a half million from MU annually. Unless MU got a bigger cut of it, there's no justifiable reason to front millions for it.

[4everwarriors]

No surprise here. What's the point of forkin' over any bread? We're just a tenant, not an owner, aina?

[GooooMarquette]

Hardly shocking.  I doubt GTown helped with the Verizon Center or Nova with Wells Fargo.  Don't see why MU would be any different.

[jsglow]

Good move in my mind.

[brandx]

Per Woelfel on twitter, so it's anyone's guess if it's true.

Of course, the local mouthbreathers that think MU is flush with cash are saying the Bucks should block MU from using the building.

You're saying Woelfel has a history of lying?

And which "mouthbreaters" said the Bucks should block MU from using a new building?

[chapman]

Not disappointed if they looked into options and didn't see enough advantage in the return, or have other investments taking higher priority.

And which "mouthbreaters" said the Bucks should block MU from using a new building?

Those who would rather have a new expensive arena sit idle for 18 days each year instead of generating revenue.  They root for a team to the west, but obviously didn't go to school there.

[brandx]

Those who would rather have a new expensive arena sit idle for 18 days each year instead of generating revenue.  They root for a team to the west, but obviously didn't go to school there.

And these people are?

Are they a few halfwits on a forum - or someone who actually matters?

[NextChampionship]

Marquette's official Twitter account responded to many of the people who commented on Woefel's original tweet by saying that the tweet isn't true and that details hadn't been worked out yet.

https://twitter.com/GeryWoelfel/status/563774726280327168?s=17

[🏀]

Yeah, Gery got scooped.

Stick to Racine, buddy. Cesspool it is.

[MUfan12]

Are they a few halfwits on a forum - or someone who actually matters?

No one that matters. Morons responding to Gery's tweet on social media.

[Dr. Blackheart]

MU buying Panther Arena, I'm really a badger fan?

[mu03eng]

Lynch pin in the whole deal is the city and county of Milwaukee....if they get some skin in the game the state and likely Marquette will invest as well.  Balls in Abele and Barrett's court to get this done.  This is where I get nervous.

[Groin_pull]

Lynch pin in the whole deal is the city and county of Milwaukee....if they get some skin in the game the state and likely Marquette will invest as well.  Balls in Abele and Barrett's court to get this done.  This is where I get nervous.

Oh boy. Those two? This whole thing could easily unravel.

[4everwarriors]

This sucker is goin' up one way or another so none of y'all need to lose sleep over chit like this, hey?

[Jay Bee]

This sucker is goin' up one way or another

twss, I'm really a badger fanl?

[mu03eng]

Oh boy. Those two? This whole thing could easily unravel.

I'm not worried about Abele, he seems relatively pragmatic.  The concern for me is Barrett....no politics but that guy is an empty suit unless it relates to the trolley.  Still trying to figure out how the hell Milwaukee elects him every time.

[mr.MUskie]

Source: Menominee Tribe could offer $220 million for Bucks arena with reversal of casino decision
By Charles Benson. CREATED 9:52 PM - UPDATED: 10:09 PM
MILWAUKEE -- It could be a game changer. The Menominee Tribe is expected Tuesday to announce a way to pay a big chunk of a new Milwaukee Bucks arena. But there’s a catch.

A source confirms with TODAY'S TMJ4’s Charles Benson the tribe will kick in $220 million for the new arena - but that’s only if the Governor Scott Walker goes back on his decision and approves the Kenosha casino.

There's a lot on the table, and not a lot of time to think about it. The federal government has given the state until February 19th. Governor Walker has said his decision was final.

The Menominee say their Kenosha casino offer is worth more than a billion dollars over 25 years to the state if approved by the governor.

But last month, Governor Walker rejected that offer, claiming taxpayers would be at risk for hundreds of millions because of prior agreement with the Potawatomi.

The tribe says it has also offered a $250 million bond to cover any of those potential losses. And now there’s a new offer.

A source confirms the Menominee are expected to offer $220 million to cover the taxpayer's cost for a new arena.

Governor Walker proposed using the state’s income tax on an increase in future player salaries to fund the state portion of the arena - often referred to as the "jock tax."

The tribe’s $220 million, combined with $250 million from the current and former Bucks owners, would put the total at $470 million.

Fans at the game Monday night had mixed feelings about the proposed offer.

“Yes to the casino,” said Bucks fan Jason Coon, "absolutely and yes to the arena.”

“I'd say no,” said Bucks fan Ronan James, “absolutely not, no way in the world.”

News of the tribe's offer came after Bucks co-owner Wes Edens met with city and county leaders on Monday to talk about the new arena.

The offer requires the governor to change his mind and say yes.

It would also eliminate any potential political battles in the legislature over the governor's arena financing plan.

Assembly Speaker Robin Vos,  a supporter of the Kenosha casino, says he was not given any details of the tribe's offer but; ”it's an exciting opportunity if true."

The source says the tribe is not asking for any naming rights as part of the offer.

The Bucks have not commented on the proposed offer – saying they're waiting for more details.

Governor Walker’s spokesperson responded Monday night by saying, “Our office has received no information about this proposal."

Press Secretary Laurel Patrick also released this statement:

"However, it's important to note that Governor Walker's "Pay Their Way" plan for the new arena protects current taxpayer dollars. The $220 million would not come from current GPR.  Rather it is in the form of an appropriation bond to be paid back by projected growth in income taxes from the Bucks, as well as visiting teams, due to salary increases and new TV contracts.  Once the bonds are paid off, tax growth would return to the state."

"Governor Doyle’s compacts with the tribes open up the State of Wisconsin to significant litigation risks.  Due to those compacts, the long-term economic hit to the state budget would be a potential loss of hundreds of millions of dollars."

[MUsoxfan]

That's a no-brainer. Take the free money

[ChicosBailBonds]

That's a no-brainer. Take the free money

Sigh

There is no such thing as free money....that's why it does take a brain.

[MUsoxfan]

Let them put a casino in Kenosha. Who the f- cares. The less tax money that benefits a private deal is always good, in my opinion

Of all people, why would you be against it?

[Brewtown Andy]

I need someone to explain to me how the Kenosha casino offer is anything but a bribe that's being offered out in public.

[MUsoxfan]

I need someone to explain to me how the Kenosha casino offer is anything but a bribe that's being offered out in public.

Sure it's a bribe, but it's also an opportunity to let the people tax themselves

[mu03eng]

I need someone to explain to me how the Kenosha casino offer is anything but a bribe that's being offered out in public.

It is 100% a bribe.

Having said that, its new leverage to go to the Potowantami and extort them for the same offer.  I don't think politically Walker can change his mind but he can go to the Potowantami and say....listen, donate $200 mil and the Kenosha deal is done forever.  The $200 mil is less than a year worth of profit from the Milwaukee casino.