MILWAUKEE -- The Milwaukee Bucks have signed a 30-year lease with the public entity that will own the team's new arena.
The Bucks will pay at least $1 million annually to rent the arena from the Wisconsin Center District. Those lease payments will total $45 million over the term of the lease. The district board approved the terms of the lease agreement Wednesday.
Construction can now begin on the $524 million arena that will be located just north of the Bucks' current home, the BMO Harris Bradley Center. Groundbreaking is set for June 18, with the arena expected to ready for the start of the 2018-19 season.