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Wisconsin governor unveils plan to help finance arena

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Wisconsin Gov. Scott Walker unveiled a plan Tuesday that would help fund a new arena for the Milwaukee Bucks. Nearly $220 million of the projected $500 needed for the downtown Milwaukee facility would be funded by projected growth in income taxes from NBA players.

The Bucks’ new owners have pledged about $150 million toward the costs of the new arena. Former Bucks owner Herb Kohl has promised $100 million of his own money toward the project.

The Bucks have been playing in the BMO Harris Bradley Center, which was built in 1998.

Walker says his plan protects taxpayers while ensuring the team stays in Milwaukee.

The Bucks could leave Milwaukee in 2017 if there is no new arena — a move that would cost the state nearly $10 million per year in income tax collections alone, Walker said.

Up to the minute news and reports from the news wire of The Sports Xchange.

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