Milwaukee Bucks Signed a New Six-Year Arena Lease

The Bucks won’t be leaving the aging Bradley Center anytime soon, certainly not after signing a six-year lease deal. Per the Journal Sentinel: “The BMO Harris Bradley Center announced Monday that it has reached agreement with the Milwaukee Bucks on a new, six-year lease through Sept. 30, 2017. The lease extension, which is backdated to Oct. 1 of last year and was expected, is the longest lease between the center and the franchise in more than 10 years and the first multiyear extension since 2007. ‘This six-year lease extension represents a long-term commitment between the BMO Harris Bradley Center and the Bucks, offering security for the next five years as the community continues to determine its potential path to a new arena,’ said Marc Marotta, BMO Harris Bradley Center board chairman. The terms of the lease extension are substantially the same as in past years, arena officials said, and will not escalate during the six-year term. The lease extension is another bit of good news for the aging arena, first opened in 1988. In addition to the lease, business leaders have committed more than $18 million in sponsorships, which include the naming rights for the arena and the four entrances to the building. In addition, new restaurants, new seating options and valet parking have been added, providing new revenue opportunities.”