Want to keep the Bucks in Milwaukee?
Want a state-of-the-art arena that will help revitalize downtown Milwaukee?
Then please sign our petition and spread the word: https://www.change.org/p/wisconsin-state-house-wisconsin-state-senate-wisconsin-governor-saveourbucks-approve-the-new-milwaukee-arena-funding-proposal
#SaveOurBucks
Friday, June 19, 2015
#SaveOurBucks
My name is Max Margulis and I am a diehard loyal Milwaukee Bucks fan. I have been since the magical 2000-01 season. I love this team very much despite the fact that I am a born and raised New Yorker with zero ties to the city of Milwaukee or state of Wisconsin whatsoever. One of the big reasons I started rooting for the Bucks is because I felt nobody else supports them – so, why not me? I root for the Giants in football, the Mets in baseball and the Rangers in hockey - but the Bucks caught my attention and captured my imagination in basketball.
On March 28th, 2015 - I visited Milwaukee for my very first Bucks home game after years of watching them on the road in New York, Brooklyn and Boston. My brother and I spent a beautiful Saturday afternoon in downtown Milwaukee and we noticed how quiet it is. We saw the abandoned lots around the BMO Harris Bradley Center, the haunted looking Journal Communications building among many other vacant stores and buildings surrounding the current arena. These are undeveloped areas with great potential. While planning our trip to Milwaukee, I told my brother how this city has a chance to become the Boston of the midwest. I really believe that. We walked along the river in Milwaukee and I really see it. There is so much potential. A new arena with surrounding developments is exactly what downtown Milwaukee needs.
There are a lot of misconceptions I've read regarding the new downtown Milwaukee Arena development. People talk about how Bucks ownership should cover ALL of the arena development costs - 100% out of pocket. Of course private financing would be ideal, but people have to understand - this ownership group is making a very significant contribution to this endeavor. I'm not just talking about the $550 million Mr. Lasry and Mr. Edens paid to purchase the Bucks last year + the $150 million they pledged to the new arena (along with $100 million donated from previous Bucks owner, Senator Herb Kohl). There is more to it than that. Lasry and Edens bought the team with the condition that if no new arena is built or under construction by 2017 (when the Bucks lease at the BMOHBC ends), the NBA can buy the team back for $575 million. If this happens, Lasry and Edens are out of the NBA and their team (our Bucks) would be purchased by the league at a massive discount. Lasry and Edens only chance to own an NBA franchise is in Milwaukee. They have changed the culture of this franchise in just one year. New big name coach, young rising stars, a 26-win improvement, brand new logos and uniforms that proudly represent the city of Milwaukee and state of Wisconsin - Lasry and Edens are building a team to be proud of. This is the most exciting time to be a Bucks fan since 2001! Lasry and Edens are doing their part - they're taking a risk and it is only fair that the local government meets them halfway. A 50/50 partnership is a unique opportunity for the city of Milwaukee. Look at how much it cost taxpayers for other cities to keep their NBA franchises since 1999 (according to Politifact, http://www.politifact.com/wisconsin/statements/2015/may/29/tim-sheehy/would-paying-half-cost-new-milwaukee-bucks-arena-b/):
New Orleans paid 100% of the $114 million for their arena in 1999 - without having an NBA franchise committed to playing there at all. The NBA did not arrive permanently until the then-Hornets relocated from Charlotte in 2002.
Miami paid between 59-100% of their $213 million arena in 1999.
Oklahoma City paid 100% of their $89 million arena in 2002 - without having an NBA franchise committed to playing there at all. The NBA did not arrive permanently until then-Sonics relocated from Seattle in 2008.
San Antonio paid between 84-85% of their $186 million dollar arena in 2002.
Houston paid 82-100% of their $235 million arena in 2003.
Memphis paid between 83-100% of their $250 million arena in 2004.
Charlotte paid 100% of their $265 million arena in 2005.
Orlando paid between 87.5-90% of their $480 million arena in 2010.
Only four NBA cities had taxpayers pay less than or equal to 50% of their arena costs since 1999:
Los Angeles paid 16-19% of their $375 million arena in 1999. However, it should be noted that Los Angeles has two teams - the Lakers and Clippers.
Denver paid 3-22% of their $160 million arena in 1999.
Toronto's $265 million arena was privately financed in 1999.
Dallas paid 30-50% of their $420 million arena in 2001.
According to Politifact: "Of the 15 NBA arenas -- comprising half the cities in the league -- built since 1999, at least eight were built with more than 50 percent of the money coming from taxpayers. Seven of those eight were built with at least 82 percent public money."
Here is some additional food for thought:
Via Forbes: "In subsequent months [since the Bucks sale to Lasry and Edens] the [Bucks] added over a dozen small investors, including Giacomo Fallucca, CEO of Palermo's Pizza, as well as a consortium called Partners for Community Impact that included Michael Barber, chief operating officer for GE Healthcare; Valerie Daniels-Carter, CEO of fast-food franchisee V&J Holdings; Virgis Colbert, a retired executive for the Miller Brewing Co. and a former member of the BMO Harris Bradley Center board; Charles Harvey, a Johnson Controls executive; and Cory Nettles, founder and managing director of Generation Growth Capital in Milwaukee." These are local investors brought in to help keep the Bucks in Milwaukee.
According to Forbes (January 2015), the Milwaukee Bucks value went up by 48% in just one year - from $405 million to $600 million. The team is still ranked last in the 30-team NBA in terms of value, but it is quickly rising as the league continues its rapid growth. Having a professional sports franchise or any business worth this much is huge for any city. Losing such a valuable asset devalues the city and state.
This is the first time in team history (dating back to 1968) that the Bucks are asking the local government for help to keep the team in Milwaukee. The MECCA was already in place for 18 years when the Bucks arrived in 1968 and funds to build the Bradley Center were donated as a gift to the State of Wisconsin by philanthropists, Jane Bradley Pettit and Lloyd Pettit.
The only world championship banner currently residing in the city of Milwaukee belongs to the Bucks (1971). If the team relocates, the proud history of Bucks basketball will die.
My main argument for the new arena is this: downtown Milwaukee really has a chance at becoming something special. Not just an affordable and nearby destination for Chicago fans to come root for the Bulls. The property along the Milwaukee River is gorgeous and it needs to be developed. Building an arena is key to making that happen and revitalizing downtown Milwaukee. I also believe that there is no better team than the current Milwaukee Bucks to build around. Lasry and Edens have really changed the culture of this franchise. They have re-branded the team to incorporate and represent the city of Milwaukee and state of Wisconsin. The youthful positive energy that this roster has with a big name championship coach will help transform the on-the-court product into something Milwaukee can really be proud of. Lasry and Edens are proving how committed they are to Milwaukee by turning this team around. These are not the same old Bucks.
To the citizens of the great city of Milwaukee/state of Wisconsin, I implore you to reach out to your elected officials and voice your opinions for the new arena.
To the elected officials of the proud city of Milwaukee/state of Wisconsin, I urge you to put any petty political differences aside for the greater good and get this deal done ASAP! Republicans, Democrats, Independents, whatever - time is of the essence and if a solution is not found very quickly - Milwaukee will lose the Bucks and nobody wins if that happens.
To the Milwaukee Bucks, I hope the organization continues to do the good work that has begun under the new ownership. Continue improving the roster and building towards a championship - not just a team that settles for the 8th seed every year. Continue building the brand and representing the city of Milwaukee/state of Wisconsin proudly. A deep playoff run can change everything in Milwaukee. Look at the Seattle Mariners and Safeco Field. In September 1995, King County voters defeated a ballot measure to secure public funding for a new baseball stadium. Shortly thereafter, the Mariners' first appearance in the MLB postseason and their victory in the 1995 American League Division Series (ALDS) renewed a public desire to keep the team in town. As a result, the Washington State Legislature approved an alternate means of funding for the stadium with public money on October 14th, 1995.
Let's Go Bucks! #FearTheDeer #OwnTheFuture #BuildIt #NewMKEArena #SaveOurBucks
On March 28th, 2015 - I visited Milwaukee for my very first Bucks home game after years of watching them on the road in New York, Brooklyn and Boston. My brother and I spent a beautiful Saturday afternoon in downtown Milwaukee and we noticed how quiet it is. We saw the abandoned lots around the BMO Harris Bradley Center, the haunted looking Journal Communications building among many other vacant stores and buildings surrounding the current arena. These are undeveloped areas with great potential. While planning our trip to Milwaukee, I told my brother how this city has a chance to become the Boston of the midwest. I really believe that. We walked along the river in Milwaukee and I really see it. There is so much potential. A new arena with surrounding developments is exactly what downtown Milwaukee needs.
There are a lot of misconceptions I've read regarding the new downtown Milwaukee Arena development. People talk about how Bucks ownership should cover ALL of the arena development costs - 100% out of pocket. Of course private financing would be ideal, but people have to understand - this ownership group is making a very significant contribution to this endeavor. I'm not just talking about the $550 million Mr. Lasry and Mr. Edens paid to purchase the Bucks last year + the $150 million they pledged to the new arena (along with $100 million donated from previous Bucks owner, Senator Herb Kohl). There is more to it than that. Lasry and Edens bought the team with the condition that if no new arena is built or under construction by 2017 (when the Bucks lease at the BMOHBC ends), the NBA can buy the team back for $575 million. If this happens, Lasry and Edens are out of the NBA and their team (our Bucks) would be purchased by the league at a massive discount. Lasry and Edens only chance to own an NBA franchise is in Milwaukee. They have changed the culture of this franchise in just one year. New big name coach, young rising stars, a 26-win improvement, brand new logos and uniforms that proudly represent the city of Milwaukee and state of Wisconsin - Lasry and Edens are building a team to be proud of. This is the most exciting time to be a Bucks fan since 2001! Lasry and Edens are doing their part - they're taking a risk and it is only fair that the local government meets them halfway. A 50/50 partnership is a unique opportunity for the city of Milwaukee. Look at how much it cost taxpayers for other cities to keep their NBA franchises since 1999 (according to Politifact, http://www.politifact.com/wisconsin/statements/2015/may/29/tim-sheehy/would-paying-half-cost-new-milwaukee-bucks-arena-b/):
New Orleans paid 100% of the $114 million for their arena in 1999 - without having an NBA franchise committed to playing there at all. The NBA did not arrive permanently until the then-Hornets relocated from Charlotte in 2002.
Miami paid between 59-100% of their $213 million arena in 1999.
Oklahoma City paid 100% of their $89 million arena in 2002 - without having an NBA franchise committed to playing there at all. The NBA did not arrive permanently until then-Sonics relocated from Seattle in 2008.
San Antonio paid between 84-85% of their $186 million dollar arena in 2002.
Houston paid 82-100% of their $235 million arena in 2003.
Memphis paid between 83-100% of their $250 million arena in 2004.
Charlotte paid 100% of their $265 million arena in 2005.
Orlando paid between 87.5-90% of their $480 million arena in 2010.
Only four NBA cities had taxpayers pay less than or equal to 50% of their arena costs since 1999:
Los Angeles paid 16-19% of their $375 million arena in 1999. However, it should be noted that Los Angeles has two teams - the Lakers and Clippers.
Denver paid 3-22% of their $160 million arena in 1999.
Toronto's $265 million arena was privately financed in 1999.
Dallas paid 30-50% of their $420 million arena in 2001.
According to Politifact: "Of the 15 NBA arenas -- comprising half the cities in the league -- built since 1999, at least eight were built with more than 50 percent of the money coming from taxpayers. Seven of those eight were built with at least 82 percent public money."
Here is some additional food for thought:
Via Forbes: "In subsequent months [since the Bucks sale to Lasry and Edens] the [Bucks] added over a dozen small investors, including Giacomo Fallucca, CEO of Palermo's Pizza, as well as a consortium called Partners for Community Impact that included Michael Barber, chief operating officer for GE Healthcare; Valerie Daniels-Carter, CEO of fast-food franchisee V&J Holdings; Virgis Colbert, a retired executive for the Miller Brewing Co. and a former member of the BMO Harris Bradley Center board; Charles Harvey, a Johnson Controls executive; and Cory Nettles, founder and managing director of Generation Growth Capital in Milwaukee." These are local investors brought in to help keep the Bucks in Milwaukee.
According to Forbes (January 2015), the Milwaukee Bucks value went up by 48% in just one year - from $405 million to $600 million. The team is still ranked last in the 30-team NBA in terms of value, but it is quickly rising as the league continues its rapid growth. Having a professional sports franchise or any business worth this much is huge for any city. Losing such a valuable asset devalues the city and state.
This is the first time in team history (dating back to 1968) that the Bucks are asking the local government for help to keep the team in Milwaukee. The MECCA was already in place for 18 years when the Bucks arrived in 1968 and funds to build the Bradley Center were donated as a gift to the State of Wisconsin by philanthropists, Jane Bradley Pettit and Lloyd Pettit.
The only world championship banner currently residing in the city of Milwaukee belongs to the Bucks (1971). If the team relocates, the proud history of Bucks basketball will die.
My main argument for the new arena is this: downtown Milwaukee really has a chance at becoming something special. Not just an affordable and nearby destination for Chicago fans to come root for the Bulls. The property along the Milwaukee River is gorgeous and it needs to be developed. Building an arena is key to making that happen and revitalizing downtown Milwaukee. I also believe that there is no better team than the current Milwaukee Bucks to build around. Lasry and Edens have really changed the culture of this franchise. They have re-branded the team to incorporate and represent the city of Milwaukee and state of Wisconsin. The youthful positive energy that this roster has with a big name championship coach will help transform the on-the-court product into something Milwaukee can really be proud of. Lasry and Edens are proving how committed they are to Milwaukee by turning this team around. These are not the same old Bucks.
To the citizens of the great city of Milwaukee/state of Wisconsin, I implore you to reach out to your elected officials and voice your opinions for the new arena.
To the elected officials of the proud city of Milwaukee/state of Wisconsin, I urge you to put any petty political differences aside for the greater good and get this deal done ASAP! Republicans, Democrats, Independents, whatever - time is of the essence and if a solution is not found very quickly - Milwaukee will lose the Bucks and nobody wins if that happens.
To the Milwaukee Bucks, I hope the organization continues to do the good work that has begun under the new ownership. Continue improving the roster and building towards a championship - not just a team that settles for the 8th seed every year. Continue building the brand and representing the city of Milwaukee/state of Wisconsin proudly. A deep playoff run can change everything in Milwaukee. Look at the Seattle Mariners and Safeco Field. In September 1995, King County voters defeated a ballot measure to secure public funding for a new baseball stadium. Shortly thereafter, the Mariners' first appearance in the MLB postseason and their victory in the 1995 American League Division Series (ALDS) renewed a public desire to keep the team in town. As a result, the Washington State Legislature approved an alternate means of funding for the stadium with public money on October 14th, 1995.
Let's Go Bucks! #FearTheDeer #OwnTheFuture #BuildIt #NewMKEArena #SaveOurBucks
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