Bucks stadium update

(WNFL)- The Milwaukee Bucks and Wisconsin legislative leaders say the governor’s financing plan for a new Bucks’ arena is a good first start. Team president Peter Feigin (fay’-gn) says Scott Walker’s plan “brings Wisconsin closer to creating a new state-of-the-art arena and entertainment destination.” He said the Bucks look forward to working more closely with state and local officials, and the community, to make their vision a reality. GOP Assembly Speaker Robin Vos and state finance co-chair John Nygren both want the city and county of Milwaukee to take some of the risk involved in lending the Bucks a proposed $220 million for the new arena. The Republican Walker says there is no risk to taxpayers because the loan would be paid back with new income tax revenues from future, higher player salaries which result from the NBA’s next TV contract. Walker also said the arena would need 300 million in private investment before the state bonding kicks in. Past and present Bucks’ owners have publicly committed 250 million. The conservative Americans for Prosperity does not buy Walker’s claim that taxpayers won’t shell out anything. The group said the deal still leaves the state on the hook for what it calls “future obligations.”