MILWAUKEE (WITI) -- Delayed again? The Milwaukee Business Journal is reporting the owners of the Milwaukee Bucks say news about the preferred site for a new Bucks arena may be delayed beyond the end of January.
The Business Journal says an announcement COULD still happen this month, but it's looking like the announcement could be delayed into February or later.
"It's a fluid situation and it may not happen by the end of January. We're making significant progress, but determining the best possible footprint and due diligence is taking longer than anticipated. We are continuing to move aggressively and are confident this doesn't impact our longer-term track," Bucks spokesman Jake Suski told the Business Journal Wednesday, January 14th.
The pressure is on for the Bucks to select a location for a new arena. The NBA has given the Bucks a deadline of November 2017 to have a deal in place for a new arena. If they don’t, the Bucks would leave Milwaukee.
The puzzle of financing an arena and exactly where the arena would be located are the biggest open questions.
The Bucks’ new owners, Marc Lasry and Wes Edens have pledged $100 million, and former owner Herb Kohl has pledged $100 million. There’s also $250 million in private funds in the mix. The rest would come from either private or public investments.
The arena project is estimated at $400 million to $500 million.
CLICK HERE for more on this story via the Milwaukee Business Journal.
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