Thursday, November 13, 2014
If You Play With The Devil, Don't Ask Favors From Angels
From the Milwaukee Journal-Sentinel:
The Milwaukee Bucks investors who are seeking public money for a new arena will have to negotiate a difficult set of politics in Madison, where Republicans have widened their control of the Legislature.
The latest sign of trouble for those wanting public money for the arena came from Assembly Speaker Robin Vos (R-Rochester), who said he thinks Bucks co-owner Marc Lasry made a mistake by greeting President Barack Obama at the airport in the lead-up to last week's election.
Obama was in town Oct. 28 for a rally at North Division High School on behalf of Democrat Mary Burke. A week later, Republican Gov. Scott Walker beat Burke to win a second term.
Vos said Lasry's appearance "did not make my job easier" in terms of persuading Republican legislators to back a possible financial plan to build a new, multipurpose arena in Milwaukee.
"It's a tough sell when you're asking for millions of dollars," Vos said.
The Bucks want to replace the aging BMO Harris Bradley Center with a new downtown arena at a cost of $400 million to $500 million. Lasry, co-owner Wes Edens and the Metropolitan Milwaukee Association of Commerce have said some public funding would be needed for the project.
Lasry and Edens have committed $100 million toward a new arena. Former U.S. Sen. Herb Kohl has also said he would put $100 million toward an arena, and additional private investment could bring the total commitment to $300 million. Kohl sold the Bucks to the two hedge-fund investors this year for $550 million. http://www.jsonline.com/news/statepolitics/vos-arena-funding-plan-could-be-hard-sell-in-gop-run-legislature-b99390195z1-282624671.html
First, the new arena will cost more than $500,000,000 because in Milwaukee, the $ figure is always low, and when they build something, the price is always higher with cost overruns.
And the Bucks need to find private supporters to build a new arena instead of relying on the government- State and local, because that is the way it is going throughout in the Country. In Las Vegas, they are building a huge new arena it is being built by MGM and with no government financing.
And the owner of the Bucks must be tone deaf to be meeting with Obama just before the election where the GOP, and in Wisconsin, true conservatives walloped the Democrats and Obama and his ilk.
So, if the new owner of the Bucks wants to have the State of Wisconsin help him build a new arena, then he needs to do some serious ass kissing and donations to the GOP campaign funds.