Current:Home > reviewsWisconsin governor signs off on $500 million plan to fund repairs and upgrades at Brewers stadium -Wealth Empowerment Academy
Wisconsin governor signs off on $500 million plan to fund repairs and upgrades at Brewers stadium
View
Date:2025-04-14 23:56:30
MILWAUKEE (AP) — After months of backroom wrangling, Wisconsin Gov. Tony Evers signed a bill Tuesday that spends half-a-billion dollars in taxpayer money over the next three decades to help the Milwaukee Brewers repair their baseball stadium.
The governor signed the bipartisan package at American Family Field, calling the legislation a compromise agreement between the team and the public.
“All in all, this plan ensures the Milwaukee Brewers will continue to call this city home for nearly 30 more years,” Evers said before signing the legislation on a stage set up at home plate.
The Brewers say the 22-year-old stadium needs extensive renovation. The stadium’s glass outfield doors, seats and concourses need replacing, the stadium’s luxury suites and video scoreboard need upgrades and the stadium’s signature retractable roof, fire suppression systems, parking lots, elevators and escalators need work, according to the team.
Brewers officials warned lawmakers the team might leave Milwaukee without public assistance. Spurred by the threat of losing tens of millions of dollars in tax revenue, legislators began working on a subsidy package in September.
Debates over handing public dollars to professional sports teams are always divisive. The Brewers’ principal owner, Mark Attanasio, is worth an estimated $700 million, according to Yahoo Finance, and the team itself is valued at around $1.6 billion, according to Forbes.
Critics, including a number of Milwaukee-area legislators, insisted the Brewers deserved nothing and the state should spend its tax dollars on programs designed to help people.
The package went through multiple revisions as lawmakers worked to find ways to reduce the public subsidy. The bill Evers finally signed calls for a state contribution of $365.8 million doled out in annual payments through 2050. The city of Milwaukee and Milwaukee County will contribute a combined $135 million.
The legislation also imposes surcharges on tickets to non-baseball events at the stadium such as rock concerts or monster truck rallies. The surcharges are expected to generate $20.7 million.
The Brewers, for their part, will spend $110 million and extend their lease at the stadium through 2050, keeping Major League Baseball in its smallest market for another 27 years.
The bill easily passed the Legislature last month, with the Assembly approving it on a 72-26 vote and the Senate following suit 19-14.
veryGood! (8)
Related
- Residents in Alaska capital clean up swamped homes after an ice dam burst and unleashed a flood
- Lawmakers seek to prop up Delaware medical marijuana industry after legalizing recreational use
- Former US Sen. Joe Lieberman and VP candidate to be remembered at hometown funeral service
- House Oversight chairman invites Biden to testify as GOP impeachment inquiry stalls
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- White House orders federal agencies to name chief AI officers
- New Mexico State University names Torres interim president
- The Hedge Fund Manager's Path to Financial Freedom in Retirement: An Interview with John Harrison
- Jamaica's Kishane Thompson more motivated after thrilling 100m finish against Noah Lyles
- Opening day 2024: What to watch for on the first full day of the MLB season
Ranking
- Organizers cancel Taylor Swift concerts in Vienna over fears of an attack
- Baltimore bridge collapse is port's version of global pandemic: It's almost scary how quiet it is
- ASTRO COIN: Bitcoin Halving Mechanism Sets the Stage for New Bull Market Peaks
- Ymcoin: Interpretation of the impact of the Bitcoin halving event on the market
- A South Texas lawmaker’s 15
- ASTRO COIN: The blockchain technology is driving the thriving development of the cryptocurrency market.
- ASTRO COIN:Bitcoin will skyrocket
- Lawmakers in Thailand overwhelmingly approve a bill to legalize same-sex marriage
Recommendation
Buckingham Palace staff under investigation for 'bar brawl'
Man who threatened to detonate bomb during California bank robbery killed by police
Mississippi Senate passes trimmed Medicaid expansion and sends bill back to the House
UFL kickoff: Meet the eight teams and key players for 2024 season
Charges: D'Vontaye Mitchell died after being held down for about 9 minutes
Victim Natania Reuben insists Sean 'Diddy' Combs pulled trigger in 1999 NYC nightclub shooting
What to know about Day of Visibility, designed to show the world ‘trans joy’
Ymcoin: Interpretation of the impact of the Bitcoin halving event on the market