Current:Home > MarketsWisconsin governor signs off on $500 million plan to fund repairs and upgrades at Brewers stadium -MoneySpot
Wisconsin governor signs off on $500 million plan to fund repairs and upgrades at Brewers stadium
View
Date:2025-04-14 16:11:02
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! (55748)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Solar eclipse 2024 live updates: See latest weather forecast, what time it hits your area
- After magical, record-breaking run, Caitlin Clark bids goodbye to Iowa on social media
- Elon Musk will be investigated over fake news and obstruction in Brazil after a Supreme Court order
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Cargo ship stalled near bridge on NY-NJ border, had to be towed for repairs, officials say
- Stephen Strasburg retires, will be paid remainder of contract after standoff with Nationals
- How often total solar eclipses happen — and why today's event is so rare
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Jennifer Crumbley's lawyer seeks leniency ahead of sentencing: She's 'also suffered significantly'
Ranking
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- RHOC Alum Lauri Peterson's Son Josh Waring Died Amid Addiction Battle, His Sister Says
- Kevin Costner’s Western epic ‘Horizon, An American Saga’ will premiere at Cannes
- National Beer Day 2024: Buffalo Wild Wings, Taco Bell Cantina among spots with deals
- As Trump Enters Office, a Ripe Oil and Gas Target Appears: An Alabama National Forest
- Israeli military fires 2 officers as probe blames World Central Kitchen deaths on mistaken identification
- What is Masters Par 3 Contest? A guide to the family-friendly pre-tournament event
- Justice Department blasts GOP effort to hold Attorney General Garland in contempt over Biden audio
Recommendation
Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
Jennifer Crumbley's lawyer seeks leniency ahead of sentencing: She's 'also suffered significantly'
Driver flees after California solo car crash kills 9-year-old girl, critically injures 4 others
Winning $1.326 billion Powerball ticket drawn in Oregon
'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
Tiera Kennedy Shares “Crazy” Experience Working With Beyoncé on Cowboy Carter
MLB power rankings: Red Sox come home with best pitching staff in baseball
Campbell “Pookie” Puckett and Jett Puckett Prove Their Red Carpet Debut Is Fire at CMT Music Awards