Wisconsin Gov. Scott Walker anticipating financing deal for new Bucks arena

The future of the Milwaukee Bucks could become far clearer on Thursday.

With the deadline nearing for a financing plan for a new $500-million downtown facility to be submitted to the Legislature's Joint Finance Committee, Wisconsin Gov. Scott Walker anticipates making significant progress Thursday.

Walker said Wednesday that he expects a deal on the public financing portion of the arena project to be struck during a negotiating session he'll be a part of:

I think it was important to show just how serious things are that I want to personally be part of that. Depending on the players (in a meeting), sometimes that can be a benefit, sometimes that can be a challenge.

But in this case I think us being there together, I think there’s enough movement together on what can be a reasonable plan going forward. We can get things done tomorrow or in the not too distant future.

The Bucks, and by extension, the city and state, are under quite the time crunch to get a deal in place. The NBA has the option to buy the Bucks back from new owners Marc Lasry and Wesley Edens at a very reasonable price if the team doesn't have a new arena in place by 2017, and the team's ownership is still short somewhere in the neighborhood of $200 million for the project from independent financing.

Walker announced his support for the project in January, but it's been met with a polarized response. His initial "Pay Their Way" plan would see the state recoup its investment - funded by issuing state bonds rather than changing the state's tax structure - through tax revenue provided from the salaries of Bucks players and visiting teams. The leading proposal would see the state loan the county money with which to invest in the development.

The dollar amounts being negotiated are still unclear, but Walker has remained steadfast that no new taxes would be introduced.

Drumming up funds is considered a Walker strength based on his performance creating strong ties with major fundraisers for the Republican party, unrelated though that may be. Walker has received donations toward a potential presidential run from roughly half of the top 250 Republican donors in the country.