Bucks release $500M arena plan

MILWAUKEE -- Owners of the Milwaukee Bucks are releasing their plan for a new $500 million arena that they say would anchor a much larger entertainment district in downtown Milwaukee.

The Bucks owners on Wednesday talked about their plans for 30 acres of largely vacant land adjacent to the existing arena, the BMO Harris Bradley Center, which opened in 1988. The proposed plan by owners Wes Edens, Marc Lasry and Jamie Dinan would demolish the current arena to make room.

Development around the new arena would include entertainment, retail, hotel, residential, office and parking. The centerpiece of the development is a 700,000-square-foot, 17,000-seat arena.

A public financing contribution to the arena hasn't been settled.