The Milwaukee Bucks are celebrating after signing Greg Monroe in free agency, but president Peter Feigin had some cautious words for the team's future, saying to Wisconsin politicians that the team could end up moving to Las Vegas or Seattle if they do not get "public funding" for a new arena in down Milwaukee.
The Bucks are trying to get a new arena built and based on some stipulations of buying the franchise, the owners need to start construction within the year. According to Mark Kass Milwaukee Business Journal and Ananth Pandian of CBSSports.com, Feigin said to Wisconsin lawmakers that the plan for "$250 million in public funding for the proposed arena" is needed soon, as the NBA could buy back the franchise and relocate it.
From the report: the "Bucks owners' purchase agreement for the team includes a provision that construction of a new arena start in 2015. If that does not occur, he said the NBA will buy back the team for a $25 million profit and move them to 'Las Vegas or Seattle.'"