Wisconsin Gov. Scott Walker has signed the bill providing $250 million in public funding to build a new stadium for the Milwaukee Bucks. Walker signed the deal at State Fair Park outside Milwaukee.
The bill passed in both the Senate and Assembly over the last month. Walker had been working on getting this new arena built for quite some time, and the Bucks were under pressure from the league to get construction going, otherwise they could’ve left Milwaukee.
Bucks president Peter Feigen released a statement on the signing:
Today’s signing is the culmination of an extraordinary effort from a broad coalition to not only keep the Bucks in Wisconsin, but revitalize Milwaukee. The entire Bucks family is thankful for the leadership and bipartisan support of Governor Walker, state legislators, local officials, countless organizations and the community. We will continue to work with the city and county to move this public-private partnership forward as swiftly as possible and make this world-class sports and entertainment district a reality.
The new and old Bucks owners are contributing $250 million to the arena project to go along with the $250 million in public funding, although that $250 million in public money will be around $400 million with interest.