Bucks need public financial support to build new arena

The new president of the Milwaukee Bucks said Tuesday that public financial support for a new, multipurpose arena is needed to spur additional development nearby.

Peter Feigin said city, county and state support is crucial to build upon what the Bucks hope is a much larger investment in downtown Milwaukee.

While a new arena is expected to cost between $400 million and $500 million, the new building holds the potential to be a catalyst to more than $1 billion in additional development in the form of new retail, residential and commercial space, he said.