Image Credit: Jim Bauer (CC BY-ND 2.0)
The Milwaukee Bucks are currently pursuing a naming rights partner for their future home arena which is currently under construction. Milwaukee Bucks President Peter Feigin is hoping to secure a partner that will pay the Bucks between $7 and $10 million and for a period of twenty years or more. According to Feigin, the Bucks have five or six suitors that are headquartered in either the United States or overseas. Bucks fans can expect an agreement to be completed over the next two months.
A major obstacle for the Bucks and their pursuit of a large naming rights agreement is that they play in Milwaukee, Wisconsin; one of the NBA’s smallest markets. The Orlando Magic, another small market team, currently receive $4 million per season from Amway from their 2009 naming rights agreement. The Sacramento Kings receive $6 million per season from Golden 1 Credit Union; the Golden 1 Center is currently in it’s second season of operation. Those two deals will make it very difficult for the Bucks to secure a naming rights agreement that pays nearly $10 million per season. Peter Feigin, however, suggests that the Milwaukee Bucks are a popular brand worldwide and that they will be able to secure the agreement they want based on upside.
The Milwaukee Bucks organization had previously pursued FoxConn, a technology company from Taiwan, as a naming rights partner. FoxConn is building a new plant in Racine County, Wisconsin that could employ up to 13,000 people. The new arena is slated to open by the beginning of the 2018-2019 NBA season and will cost an estimated $524 million to build. Local taxpayers are contributing $250 million towards the new arena’s construction. Local businesses BMO Harris, Miller Brewing and Johnson Controls have signed on as partners for the new arena but not for the official naming rights which would put their name on the outside of the building.
Reference:
Related Articles
- Milwaukee Bucks sign Final Lease with BMO Harris Bradley Center
- The Milwaukee Bucks break ground on the Wisconsin Entertainment and Sports Center
- Hotels Near The Bradley Center
- Breakdown of the Fiserv Forum Seating Chart
- Milwaukee Bucks Hotels on the Road
- Sports Bars near the BMO Harris Bradley Center
