According to a report, the agreement between the Milwaukee Panthers and the Wisconsin Center District for use of what is now known as UW-Milwaukee Panther Arena contains a clause allowing either side to terminate the deal if the site of the arena is selected to house a new arena for the Milwaukee Bucks.
The Milwaukee Journal Sentinel reported that the former MECCA is being leased to UWM for 10 years, with the university having the option to extend the deal by five years through 2029.
There hasn’t been a site chosen for a potential new arena to replace the current home of the Bucks, the BMO Harris Bradley Center, but it has been suggested by at least one city official that the area around UW-Milwaukee Panther Arena would be “ideal.”
Rocky Marcoux, the commissioner of the Milwaukee Department of City Development, made that suggestion, which would likely result in the 64-year-old arena that currently stands at the location being torn down.
Franklyn Gimbel, who chairs the Wisconsin Center District board, is vehemently opposed to tearing down the old arena, suggesting instead that the existing site of the BMO Harris Bradley Center be used to house a new building.
That’s a pretty transparent ploy by Gimbel, however, because where would the Bucks likely have to play if they tore the BMO Harris Bradley Center down to build a new arena on the site? Why, the UW-Milwaukee Panther Arena, of course.
The guy really needs to avoid telegraphing his punches so much.
In any event, the lease agreement between UWM and the district calls for the university to pay $300,000 a year for the naming rights fee, a figure that will jump to $350,000 in 2017 and to 375,000 in 2021.