Looking at a deadline of 2017, the Milwaukee Bucks and Gov. Scott Walker left a meeting with the belief that an agreement on a new $500 million stadium will be completed this week.
The Bucks are a hot topic when it comes to cities and potential owners looking to relocate an NBA franchise. The lease on the Bucks’ current building–the Bradley Center–ends in 2017. When the lease extension was signed in 2013, it was looked at as a “bridge to a new facility.”
Former owner Herb Kohl sold the franchise in April of last year for $550 million. He bought the team in 1985 for $18 million.
There’s pressure on the two sides to reach an agreement on a new stadium, as former NBA commissioner said the league would buy back the team and move it (potentially to Seattle) if an agreement on a new stadium wasn’t reached by 2017.