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Scott Walker approves $250M Bucks Arena
Gov. Scott Walker of Wisconsin signed a bill on Tuesday allowing $250 million of taxpayer's money to help fund an arena that would replace the almost three-decade-old Bradley Center.
There are most likely some obstacles along Walker's plans to run for president as Conservatives from Wisconsin and around the US are not so thrilled with the move.
According to the governor, half of the needed amount to put up the arena would be covered by Marc Lasry and Wesley Edens along with Herb Kohl. Edens and Lasry are to contribute $150 million and Kohl, former owner of Milwaukee Bucks, committed $100. The rest of the needed amount would be taken from the state and the local government. The state would bring in $80 million and the $170 million will be taken from the local governments.
Walker claims that his move is for Wisconsin's welfare. Under the sale of the Bucks in 2014 was anagreement that they would be relocated if a new arena is not built by 2017. If the state loses the Bucks, Walker said that it would cost them $419 million from NBA players' income taxes and maintenance costs of the old center used for local sporting events.
The governor projects that the infrastructure will contribute greatly to the state's economic development and that around $1 billion would be earned. Team spokesman of the Bucks, Jake Suski, said that there is a great economic potential if the team stays in the state.
However, critics of the plan are worried. Rep. David Murphy said that although the plan may be good for the state, he clearly is against the idea that taxpayers' money would be used for rich team owners and already wealthy basketball players. He also commented on the structure of the agreement, which basically depends on uncollected debt and local tax financing.
Though the bill has been signed, it is still uncertain if the plan will push through since there is a possibility that the plan will not be attached to the budget proposal, which the Democrats are already protesting for a number of reasons and the Republicans showing no support to approve the plan.