MILWAUKEE, July 6 (UPI) -- If Wisconsin legislature does not approve a $250 million publicly-funded deal to build a new arena in downtown Milwaukee, the Bucks will leave town, according to the Milwaukee Business Journal.
Bucks president Peter Feigin told Wisconsin lawmakers that "timing was of the essence" in approving the funding for a proposed arena.
Feigin said that the owners' purchase agreement includes a provision for construction of a new area to start in 2015 and "If that does not occur, he said the NBA will buy back the team for a $25 million profit and move them to Las Vegas or Seattle," according to the Milwaukee Business Journal.
"The window is closing," Feigin told the Milwaukee Business Journal. "We can't wait months, even weeks to start the public process."
The Bucks finished last season with a 41-41 record, good for third place in the NBA Eastern Conference's central division.
