Milwaukee Bucks New Arena: Latest Details, Proposals, Comments, More

The Milwaukee Bucks' quest to secure a new arena in Wisconsin has received a boost from a new proposal put on the table by Governor Scott Walker. Walker's proposed "Pay Their Way" approach would reportedly be the first of its kind.      

Trisha Bee of WITI reports the plan would create a special Sports and Entertainment District to handle the $220 million grant. The focus will be on future growth based on high salaries and more revenue generated by the league's television contracts.

The money would only be released after the team is able to secure the other $300 million that's needed for the project. By using future income to pay back the money, the Governor said it's an option that protects taxpayers while not losing a key income generator:

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This solution allows for the state to make an investment in economic development in Milwaukee, while protecting Wisconsin taxpayers from risk. This 'Pay Their Way' plan will help to turn a great potential loss in revenue into the potential for great gain.

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The WITI report states if no agreement is reached to build a new arena, the Bucks are likely going to leave in 2017. That would cause the state to lose a projected $10 million in annual taxes and leave the current area, the BMO Harris Bradley Center, without its main tenant.

A nine-member board would be created to handle the plan. A statement from Bucks team president Peter Feigin about the ongoing efforts to reach a final agreement was also included in the report:

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We thank Gov. Walker for his leadership and commitment to building a transformative, multi-purpose arena that will help revitalize Milwaukee. The governor's support brings Wisconsin closer to creating a new state-of-the-art venue and entertainment destination that will become an economic catalyst for the entire state. We look forward to working closely with Gov. Walker, the state legislature, local officials and the entire community to make this vision a reality.

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The Bucks, which currently sit sixth in the Eastern Conference with a 22-22 record, rank near the bottom of the NBA in average home attendance. They are 27th in the league at slightly under 14,900 fans per contest, according to ESPN.

Being able to improve on those numbers and increase revenue is a major part of creating a healthy franchise in Milwaukee for the long term. It's unclear how much work is left to do before a deal is reached between all of the parties involved, though.