It must be “sports owners get in the newspaper by speculating wildly day today.” (All together now: That’s every day!) Ted Kellner, a minority owner of the Milwaukee Bucks, says that there could be more private money available for a new arena than just the $200 million pledged by the team’s current and former owners:
“Collectively, there will be $250 million to $300 million of support, especially when you add in naming rights and suites,” Kellner said.
Naming rights isn’t technically “private” money so much as venue revenues, which should be considered just as much a public contribution as a private one, if the public is putting up around half the money. But okay, so the real news here is that the Bucks are (according to one of their minority owners, anyway), willing to kick in some of the proceeds of operating a new arena, which when added to possible new investors, could reach another $50-100 million.
That would still leave a funding gap of at least $200 million, and we have no idea what other goodies the Bucks might demand as part of the deal. (Free land? Tax breaks? Proper gentlemen don’t speak of such things on the first date.) But at least it’d be potentially more than their previous offer of “$200 million, and you figure out the rest,” so … positive-ish sign, maybe.