The commissioner of NBA Adam Silver was invited few days ago to the Bucks’ sport center to meet with the Milwaukee officials and business leaders on Tuesday and discuss about the new arena for the Milwaukee team Bucks.
The businessmen Wes Edens who bought the Bucks, had a conversation with Adam Silver regarding this issue, made a comment to the media that the conversation went very well and that they have made progress. The New YourkBillioner bought the Bucks Last April from the former owner Sen. Herb Kohl.
The Bulls team and Adam Silver have made a lot of progress on their meeting as Adam Silver said, and that the team of Bucks overall is a great team. As he said there are always bumps on the road but with the positive energy of the players and the Milwaukee fans, the obstacles will be jumped and the team will be to a whole new level in the future.
The whole project is about to cost 400-500 million American Dollars. Wes Edens together with he co-owned of the Milwaukee Bucks team Marc Lasry invested 100 million dollars each, with help of the previous owner Kohl of another 100 Million Dollars. The rest of the money are to be collected with public money and charity.
The Project is now on the way and is currently working on finding a site for the construction to begin. This part of the project is expected to be finished within the next month, just before the end of 2014, knowing that there are several sites in a great condition and with all the needs that this project requests.
The whole project is not entirely under control, as the funds gap is not filled with the money from the community, public money and charity. As previously Adam Silver said, there are always bumps and obstacles on the road to success, and the same will be with this project, as they face their first problem now. They are hoping to get the location of the new Milwaukee Bucks Arena soon, before the 2015, and focus on the funding raise, together with plans of the whole project.
They have already agreed on a deal and terms of purchase agreement, that if the construction has not begun until January 1st 2017, the NBA association can buy the project and the team from Edens and Lasry.
Milwaukee, who is now to face the Minnesota Timberwolves, had a really good start of the season despite the fans that had enough of their new-old manager Jason Kidd. The manager who is a returner on the Bucks’ coach chair and had just 15 wins last season, now is on a 7 win in 10 matches and an incredible result for the Milwaukee Bucks. Their tightest game so far was played against the Brooklyn Nets, in the overtime with the result of 122-118.