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Journal Sentinel: Milwaukee Bucks To Announce Arena Plans On Wednesday

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Well, it certainly looks shiny.

In case you were wondering, that's the Panther Arena on the far left side.
In case you were wondering, that's the Panther Arena on the far left side.
Milwaukee Journal Sentinel

Don Walker of the Milwaukee Journal Sentinel reported on Tuesday night that the Milwaukee Bucks will be announcing their arena plans at a Wednesday morning press conference at the BMO Harris Bradley Center.  The JS acquired an artist's rendering of the arena and the development around it, which you can see at the top of the page.

Also included in the Journal Sentinel's article on the development was this graphic to give you a more overhead image of what's happening:

Overhead View Of Arena Development via JS

I'll let Walker's words explain what the plan for the development around the arena is:

The development would include a 700,000-square-foot, 17,000-seat arena; a 60,000-square-foot public plaza, anticipated as a sort of live entertainment space on what is largely a city-owned parking ramp at the corner of N. 4th St. and W. Highland Ave.; and arena parking across the street in the Park East area. Total amount of space just for that portion of the development: 1 million square feet.

Another surprise, sources familiar with the Bucks' plans said, is the Bucks' intention to build a state-of-the-art practice facility as soon as possible on Park East land just east of The Brewery development.

...

Lastly, the Bucks' plans, still in the conceptual and preliminary phase, call for the demolition of the BMO Harris Bradley Center, first opened in 1988 and now the second-oldest nonrenovated arena in the National Basketball Association.

The land now occupied by the BMO Harris Bradley Center could become some combination of a new hotel and additional commercial or office space.

The arena is expected to cost $500 million, $250 million of which has already been promised by former Milwaukee Bucks owner Herb Kohl and current Bucks owners Wes Edens and Marc Lasry.  Milwaukee mayor Tom Barrett outlined a plan last week that would involve the city committing another $25 million to the project.  As for the remaining $225 million of expected cost, that remains up in the air.  According to Walker, Barrett, Edens, and Lasry continue to support a $220 million proposal from Governor Scott Walker that would use income tax from NBA players over several years to pay for the bonds needed to build the arena.  However, that plan has been met with objection from Republican party leaders in both the Wisconsin State Senate and State Assembly, although it's unclear why they're not standing behind the Republican governor on this issue.

Of course, this is all of major interest to Marquette fans, as President Michael Lovell has said that he would want Marquette men's basketball to continue to play in whatever arena the Bucks are playing in.  There is, of course, a time frame on all of this, as NBA Commissioner Adam Silver also wants the Bucks in a new building by 2017.

I don't know if things will be more or less clear after the press conference on Wednesday, but be sure to keep your eyes and ears open for further developments.