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Report: Bucks owners pledge another $50 million toward new arena

Milwaukee Bucks Introduce Jason Kidd

MILWAUKEE, WI - JULY 2: (L-R) Owners Wesley Edens (L) & Marc Lasry (2L) await for the official announcement of their new head coach Jason Kidd to the Milwaukee Bucks at BMO Harris Bradley Center on July 2, 2014 in Milwaukee, Wisconsin. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Mike McGinnis/Getty Images)

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Adam Silver says the Bucks are close to announcing the site of their new arena, but the bigger issue remains funding its construction.

Bucks owners Wesley Edens and Marc Lasry pledged $100 million, and so did former owner Herb Kohl. A minority investor estimated other private financers could add another $100 million.

That’s $300 million toward an arena with an estimated cost of $400 million.

If the Bucks don’t break ground on the new arena by 2017, the NBA can buy back the franchise at a discounted cost. So, Edens and Lasry are stepping up to protect their asset.

Genaro C. Armas of the Associated Press:

A person with knowledge of the private negotiations of the purchase of the Milwaukee Bucks tells The Associated Press that the new ownership group has committed another $50 million toward the construction of a new arena.

Based on the above numbers – admittedly, it’s murky just how much the minority investors have pledged and how much the arena would actually cost – that’s $50 million short.

If only there were a way for Edens and Lasry, who stand to profit directly and indirectly from the new arena, to make up the difference.