MILWAUKEE -- The Milwaukee Bucks owners arranged a bank loan of at least $174 million to pay for the owners’ share of the $524 million arena project, according to the Milwaukee Business Journal.
From the moment Wes Edens and Marc Lasry were introduced as buyers of Milwaukee’s NBA team in April 2014, they pledged at least $150 million for constructing a new arena in downtown Milwaukee. Until now, the way they would produce that money hadn’t been specified.
The information on the loan was included in a prospectus for the Wisconsin Center District bond offering that was sold Wednesday and Thursday to finance a chunk of the public funding for the arena. A company affiliated with the Bucks owners that will run the arena closed on a loan for “at least $174 million” May 17, according to the prospectus.
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