Bucks to unveil $500 million stadium plan just north of BC

[hoops12]

I want this stadium to be built to keep the Bucks in Wisconsin, but even more for what it can do for Marquette's basketball program. However, to say that someone's comment has a political slant when it is actually a fact is ridiculous. FACT - Public Education was cut by $300 million and $250 million is being asked for from the taxpayers to build the stadium. That's not political, it is actually a fact. There is no disputing that - it's not an opinion whatsoever.

GO MU!

[brewcity77]

Just because money was cut from one place and is being spent somewhere else doesn't mean it's related.

The primary source of recompense for the Bucks arena is the $200M in jock tax the state will get in the next 20 years. Without the Bucks, that money won't exist. Not for the arena, not for education, not for roads, not for anything. It will just be gone. That doesn't mean education money is going to the arena. That's a false narrative.

[keefe]

Just because money was cut from one place and is being spent somewhere else doesn't mean it's related.

The primary source of recompense for the Bucks arena is the $200M in jock tax the state will get in the next 20 years. Without the Bucks, that money won't exist. Not for the arena, not for education, not for roads, not for anything. It will just be gone. That doesn't mean education money is going to the arena. That's a false narrative.

Your understanding of finance is stunningly terrible.

[ChicosBailBonds]

The political threads are ruining this board. It prejudices peoples opinions based on the political lean of the poster.

It's not what is said, it's who says the what.....been that way here forever

[keefe]

It's not what is said, it's who says the what.....been that way here forever

On Dodds' board...if you dare say anything...against building...a new arena...you'll get banned...

[hoops12]

Just because money was cut from one place and is being spent somewhere else doesn't mean it's related.

The primary source of recompense for the Bucks arena is the $200M in jock tax the state will get in the next 20 years. Without the Bucks, that money won't exist. Not for the arena, not for education, not for roads, not for anything. It will just be gone. That doesn't mean education money is going to the arena. That's a false narrative.

Where in my post did I say that education money was being cut so the arena could be funded? I didn't! I said it's a fact that $300 million dollars was cut from public education and they are asking for taxpayers to fund $250 million for the arena. That's just factual information. Don't try to slant what I wrote. Build it! GO MU!

[TedBaxter]

I've said it on other boards and I'll say it on this one.  If the state tax payers can fund $37 million for 100 year plus building renovations at UW-Stout (Harvey and Bowman Halls) and $50 million for an athletic building (Knowles Center) on the UW-River Falls campus, there should be $80 million for an arena that will kick money back to the state and will not only keep jobs, but add jobs in Milwaukee. Maybe most importantly, keep Milwaukee as a major league city and Wisconsin in the news in a positive way.  Can't keep losing jobs and companies, especially for this amount of money.

[GGGG]

It's not what is said, it's who says the what.....been that way here forever

[keefe]

I've said it on other boards...and I'll say it on this one.  If the state tax payers...can fund $37 million...for 100 year plus building renovations at...UW-Stout...(Harvey and Bowman Halls)...and $50 million...for an athletic building...(Knowles Center)...on the UW-River Falls campus...there should be $80 million...for an arena...that will kick money back...to the state...and will not only keep jobs...but add jobs...in Milwaukee...

Coming from...an unimpeachable journalist...like Ted Baxter...we should put...UW Stout's buildings...in a blender...with UW River Falls arena...and give the Bucks...their new facility...Win Win...

[ChicosBailBonds]

He weighs in on Public Stadium financing

https://www.youtube.com/v/xcwJt4bcnXs

[GGGG]

He weighs in on Public Stadium financing

https://www.youtube.com/v/xcwJt4bcnXs

Bucks are mentioned at about 9:30.

[brewcity77]

Just going to leave this here...

Yup....it's (John Oliver's show) just a cut and paste shat show now.

[brewcity77]

Also, worth noting, the Bucks aren't threatening to leave. Without a new stadium, the NBA will buy the team back and move them. That isn't a threat from the Bucks, it's a threat from the league.

[avid1010]

Your understanding of finance is stunningly terrible.

so the jock tax is BS?

[martyconlonontherun]

Your understanding of finance is stunningly terrible.

Can you tell us what is so wrong about it?

[brewcity77]

Can you tell us what is so wrong about it?

His issue is more likely with the poster than the post. Hence why his was the first name back on my new ignore list.

[GGGG]

Also, worth noting, the Bucks aren't threatening to leave. Without a new stadium, the NBA will buy the team back and move them. That isn't a threat from the Bucks, it's a threat from the league.

Well...cmon.  They did that so that the new owners wouldn't look like the bad guys. 

Look, I want this thing done, but Oliver is right about one thing.  Stop overselling the economic impact. 

[brewcity77]

Well...cmon.  They did that so that the new owners wouldn't look like the bad guys. 

Look, I want this thing done, but Oliver is right about one thing.  Stop overselling the economic impact.

Which is why you'll note I haven't pushed the economic impact aspect. Could this revitalize downtown? Sure. Will it? No idea. But I do know that downtown is in need of revitalization and no one else is signing up for the role.

The economic impact is that worst case scenario, funding this arena will be close to break even for the state. It likely won't be a source of deliverance for downtown or Wisconsin, but it also won't be some fiscal anchor that drags the state down. The reality is almost always somewhere in the middle, and when it comes to this plan, the middle is a pretty darn good place to be.

[GGGG]

Which is why you'll note I haven't pushed the economic impact aspect. Could this revitalize downtown? Sure. Will it? No idea. But I do know that downtown is in need of revitalization and no one else is signing up for the role.

The economic impact is that worst case scenario, funding this arena will be close to break even for the state. It likely won't be a source of deliverance for downtown or Wisconsin, but it also won't be some fiscal anchor that drags the state down. The reality is almost always somewhere in the middle, and when it comes to this plan, the middle is a pretty darn good place to be.

Yep.  Agreed on all counts.

[kmwtrucks]

The NBA did not put that deal in place, Herb Kohl put the poison pill in the sale to make sure the new owners did everything possible to keep the team in MKE.  Figure they are in for 750Mil to purchase the team and 200 mil in stadium funding.  IF the NBA buys it back and then moves the team to SEattle, my guess is the it could be close to $1.5 bil to buy the team. 

[🏀]

The NBA did not put that deal in place, Herb Kohl put the poison pill in the sale to make sure the new owners did everything possible to keep the team in MKE.  Figure they are in for 750Mil to purchase the team and 200 mil in stadium funding.  IF the NBA buys it back and then moves the team to SEattle, my guess is the it could be close to $1.5 bil to buy the team. 

Under $1b, Seattle or Vegas will be waiting with an arena.

[brewcity77]

Under $1b, Seattle or Vegas will be waiting with an arena.

Hopefully waiting until long after our arena is built

[keefe]

His issue is more likely with the poster than the post. Hence why his was the first name back on my new ignore list.

No, you don't know sh1t about finance. And who cares who you ignore.

[source?]

He weighs in on Public Stadium financing

https://www.youtube.com/v/xcwJt4bcnXs

Well, if we can't rely on comedians for our advice who can we count on? I hear George Carlin, greatest comedian of our time, believed there was no God. Good to know for sure.

[keefe]

Well, if we can't rely on comedians for our advice who can we count on? I hear George Carlin, greatest comedian of our time, believed there was no God. Good to know for sure.

Oliver actually points out a number of uncomfortable economic truths. Communities needing a sports franchise to help them define themselves need more than new arenas.