Milwaukee Bucks new arena naming rights could bring in up to $4 million a year
The proposed new arena for the Milwaukee Bucks will still need to pass voting due to its public funding plan, but the team is already thinking of creative ways to cover some of the costs that come with building and maintaining a new arena.
More likely than not, the Bucks new arena will be named after whoever is the highest bidder.
Here's more from Tom Daykin of the Journal Sentinel:
The financing proposal released Thursday includes a provision requiring the team to pay for the arena's operating and maintenance costs. That cash would come from selling the arena's naming rights.
"We've agreed to take on the responsibility and risk associated with maintaining and operating a new arena so taxpayers aren't responsible for those costs like they are with the current arena," said Jake Suski, a Bucks spokesman.
"Naming rights will be a critical revenue stream to ensure that we're able to meet the costs associated with operating the arena and maintaining a capital reserve fund," Suski said in a statement.
A naming rights deal for the proposed arena could generate upward of $3 million to $4 million a year, based on similar transactions at other National Basketball Association arenas in metropolitan areas comparable to Milwaukee.
(h/t Journal Sentinel)
Photo Credit: Gary Dineen/NBAE via Getty Images
