Bucks declare hatred of arena by signing six-year lease extension

The Milwaukee Bucks have agreed to a six-year lease extension at the Bradley Center, which means, according to SBNation, that “the clock is ticking” for a new arena to be built. I’d have thought it meant it was ticking more slowly, but apparently given the fact that Bradley Center chairman Marc Marotta called his own building “aging” and “not financially stable enough to support a multiyear lease” without $18 million in new private sponsorships that will help pay for new arena restaurants and the like, the Bucks signing their longest lease extension ever means that they’re even more eager to move, or something.

In any event, it’s enough for Seattle news outlets to be noting with alarm that the Bucks are off the table for a quick move to their town. If Chris Hansen wants to get an NBA team anytime soon, it’s looking increasingly likely that it’ll have to be the Sacramento Kings. Which the Maloof brothers surely know, and will take into account when setting their sale price, if they even have a sale price. No wonder Hansen has been talking about waiting for expansion instead.

6 comments on “Bucks declare hatred of arena by signing six-year lease extension

  1. Just as an added note, Bradley Center chairmen have called for the replacement of their own arena for a good six plus years now. It’s odd and I don’t know if the BC chairman is employed by the Bucks or something, but it’s par for the course to see quotes like these.

  2. This definitely increases the value of the Kings, which is probably one of the things the Maloofs were waiting and hoping for. It’s either the Kings or expansion, and Stern seems to have taken expansion off the table.

    No matter what franchise it is, I’d bet it’ll cost Hansen $450M for his NBA team now, and that’s way more than the Kings are worth in Sacramento. Looks like all the ducks are lining up now.

    It’s almost certainly “Kings or bust” for Seattle now.

  3. Inclined to agree Mike. I just don’t see anyone else in a position to move up to Seattle on the timetable Hansen wants. And other than the Maloofs price and desire to sell, there is nothing keeping them in Sac anymore. Not after the way they treated the city.

  4. A 7% stake in the Kings is about to be auctioned off. These are shares that are owned by bankrupt Sacramento developer Bob Cook, and the proceeds will be used to pay off part of his debts.

    You’d think that if Hansen was really interested in buying the Kings, he’d at least bid on these shares. If the franchise is worth $450M, these shares will be worth about $31.5M.

  5. Either that or let the Maloofs buy them and just buy their direct or friendly controlled 53% in addition to this 7%. Lets Hansen then flip a portion of the team to recoup some of his costs at an even higher value than what he paid the Maloofs.

  6. Dan, the Maloofs own only 43% of the team, which is a controlling interest. No one owns a majority interest. Bob Cook and a couple other minority owners always voted with the Maloofs, so there is a controlling block of voters, but the Maloofs own the largest piece of that block.