MILWAUKEE (CelebrityAccess) — The BMO Harris Bradley Center reported suffering a net loss of $1.9 million for the fiscal year, ending June 30th. The sports arena cited a lackluster season for their resident NBA team the Milwaukee Bucks, and a mediocre concert season as driving forces for the loss.
According to the Milwaukee Journal-Sentinel, the facility now has an outstanding debt burden of almost $20 million, but Steve Costello, president and CEO of the BMO Harris Bradley Center told the paper that the arena continues to be in a financially stable position.
While facing the aforementioned challenges, the arena is also grappling with the double-edged sword of reduced operating resources. The arena's plant fund, which is used to pay for new or replacement equipment, has dwindled from a maximum of $10 million to $2.2 million.
The arena's struggles also unfold against a backdrop of discussions about a replacement arena for the Bucks, including potentially the current site.
"We are aware that team ownership is looking at a number of sites," Costello told The Journal-Sentinel . "That could include properties the center owns. We look forward to those discussions and we will remain engaged in that." – Staff Writers