Bucks Discuss new Lease of Bradley Center
The BMO Harris Bradley Center board of directors and the Milwaukee Bucks have been discussing a new six-year lease that, if approved by the National Basketball Association, will provide stability for both sides as discussion continues over the possibility of a new, multi-purpose arena.
Assuming the NBA signs off on the lease, the agreement is more good news for the financially strapped arena. In late May, representatives of the Metropolitan Milwaukee Association of Commerce, the Bradley Center, the Milwaukee Bucks and BMO Harris Bank announced a naming-rights deal.
Coupled with new financial sponsorship commitments from some of Milwaukee’s biggest corporations, including Harley-Davidson, Kohl’s, Northwestern Mutual and Rockwell Automation, BMO Harris Bradley Center officials estimated the new revenue would total more than $18 million over six years.
As of last November, the BMO Harris Bradley Center owed the Bucks $9.5 million, but those payments were extended out to as late as 2019.