Wisconsin speaker: 'Zero chance' current Bucks arena proposal passes

The optimism surrounding the Milwaukee Bucks' future in Wisconsin had some cold water poured on it Wednesday.

Last week, Gov. Scott Walker proposed a $220-million investment in a new, downtown, multi-purpose facility for the Bucks, based on state bonds rather than any change to Wisconsin's current tax structure. 

Walker's "Pay Their Way" plan would still earmark the roughly $6.5 million collected from taxing the salaries of the Bucks and visiting teams for the state's general fund. However, rising salaries and league revenues are expected to boost that figure, and any increases would be used to pay off the bonds. 

The announcement was met with optimism from the organization.

New owners Marc Lasry and Wesley Edens have pledged $150 million toward a new facility and previous owner Herb Kohl has pledged $100 million. Walker's proposal, plus an estimated $50 million more in potential private financing, would more than cover the remaining amount needed for the $400-million facility.

Planning for any future that involves Gov. Walker's plan in its current form would be moving too fast, it turns out.

Robin Vos, the speaker of the Wisconsin Assembly, said Wednesday that the plan as is would have zero chance of passing. Vos said that the Assembly will only be willing to go along with the plan if the city of Milwaukee and Milwaukee County also help fund it, while Republican Sen. Tom Tiffany said that he'd like to see the proposed amount cut in half.

The state said there's a good chance it'll provide at least some help toward a new facility, but it seems, for now, that Gov. Walker's proposal may have been too aggressive.

Time is of the essence with the Bucks' stadium situation, as the NBA has the option to buy back the team at a favorable price if no new facility is in place by 2017.