Last lux­ury suite is sold for the new Bucks arena

Fran­chise ap­proach­ing sea­son-ticket goal of 10K

Milwaukee Journal Sentinel - - Milwaukee Wisconsin - James B. Nel­son

The NBA sea­son is over, but the Mil­wau­kee Bucks say they are scor­ing on the sea­son ticket and suite sales fronts.

The Bucks an­nounced Tues­day that they had leased the fi­nal lux­ury suite for the new $524 mil­lion arena. The suite, the last of 34 avail­able, went to a lo­cal com­pany that orig­i­nally was con­sid­er­ing tick­ets in an­other lo­ca­tion, said Jamie Morn­ingstar, se­nior vice pres­i­dent of ticket sales and ser­vice.

Rep­re­sen­ta­tives of the com­pany saw the suite and de­cided very quickly that “it was ex­actly what they wanted,” she said.

The Bucks said the com­pany that bought the suite did not wish to be iden­ti­fied.

The suite in­cludes seat­ing for up to 18 and gives the owner ac­cess to all events in the new arena — not just Bucks games. Suite hold­ers are also en­cour­aged to use the space for com­pany meet­ings and pri­vate gath­er­ings on non­event days at the arena.

The Bucks were seek­ing $295,000 for seven, 10 or 12 years and hoped the suite will gen­er­ate rev­enue of $2.5 mil­lion to $4.2 mil­lion.

The Bucks did not re­lease de­tails of the lease.

The rev­enue is cru­cial for the Bucks be­cause the team re­tains all rev­enue from the arena in ex­change for a prom­ise to pay for all main­te­nance.

Sea­son ticket sales strong

On the sea­son ticket front, the Bucks have sold 2,200 new full sea­son pack­ages, Morn­ingstar said. That brings the to­tal to about 8,400 of the team goal of 10,000.

The Bucks cur­rently lead the NBA in new full sea­son ticket sales for the up­com­ing sea­son, a league source said.

For the past sev­eral weeks, Bucks sales rep­re­sen­ta­tives have vis­ited the new arena with likely sea­son ticket cus­tomers to show them seat lo­ca­tions. In many cases, the deal is com­pleted on the spot, Morn­ingstar said.

“It’s those who are on the verge of say­ing ‘yes,’ ” she said of the prospects giv­ing the spe­cial tours.

“In many cases, it’s peo­ple who al­ready have seats who want to pick up some ad­di­tional seats.”

Built with $250 mil­lion in pub­lic money, the new Bucks arena opens in late sum­mer.

CHRIS KOHLEY / MIL­WAU­KEE JOUR­NAL SEN­TINEL

For­mer Mar­quette and Bucks for­ward Steve No­vak looks out from Suite 13 in the new Bucks arena.

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