The Milwaukee Bucks are looking to wrap up an agreement with a naming rights partner for their new arena, and could find a company with an international reach.
With their new new arena set to open next year, the Bucks are looking to finalize an agreement with a naming rights partner. One possible match that has been frequently mentioned of late is Foxconn. The Bucks are believed to be seeking a naming rights partner with an international reach, and Foxconn–an electronics contract manufacturing company headquartered in Taiwan–recently announced plans to build a new technology campus in Racine County, WI.
During an interview on CNBC on Monday, Bucks president Peter Feigin discussed the team’s search for a naming rights partner, and indicated that the arena naming rights will not go to a locally-based company. In a followup interview with the Milwaukee Journal-Sentinel, he emphasized that the team has not finalized an agreement:
“This was a big opportunity to create some urgency,” he said. “Right now, we don’t have a deal done with Foxconn or anybody else.”
On CNBC, Feigin put the naming rights price at $7 million to $10 million a year for 20 years. He said the building won’t bear the name of a locally based company.
“It’s not a local deal,” he said.
Feigin has said in previous interviews that the Bucks have been talking with Foxconn Technology Group about partnerships, including naming rights.
Currently under construction in downtown Milwaukee, the new arena is set to begin hosting the Bucks for the 2018-19 NBA season. During its ongoing construction period, the venue has commonly been referred to as the Wisconsin Entertainment and Sports Center.
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