Current:Home > StocksWisconsin governor signs off on $500 million plan to fund repairs and upgrades at Brewers stadium -Mastery Money Tools
Wisconsin governor signs off on $500 million plan to fund repairs and upgrades at Brewers stadium
View
Date:2025-04-11 16:48:53
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! (3)
Related
- Meta donates $1 million to Trump’s inauguration fund
- U.S. charges El Chapo's sons and other Sinaloa cartel members in fentanyl trafficking
- As states start to get opioid settlement cash, few are sharing how they spend it
- Fuzzy Math: How Do You Calculate Emissions From a Storage Tank When The Numbers Don’t Add Up?
- Travis Hunter, the 2
- U.S. appeals court preserves partial access to abortion pill, but with tighter rules
- There's a second outbreak of Marburg virus in Africa. Climate change could be a factor
- Duracell With a Twist: Researchers Find Fix for Grid-Scale Battery Storage
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Collapsed section of Interstate 95 to reopen in 2 weeks, Gov. Josh Shapiro says
Ranking
- South Korean president's party divided over defiant martial law speech
- Share your story: Have you used medication for abortion or miscarriage care?
- Transcript: Former Attorney General William Barr on Face the Nation, June 18, 2023
- Keystone XL: Low Oil Prices, Tar Sands Pullout Could Kill Pipeline Plan
- North Carolina trustees approve Bill Belichick’s deal ahead of introductory news conference
- Seiichi Morimura, 'The Devil's Gluttony' author, dies at 90 after pneumonia case
- India Set to Lower ‘Normal Rain’ Baseline as Droughts Bite
- A deadly disease so neglected it's not even on the list of neglected tropical diseases
Recommendation
California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
The future availability of abortion pills remains uncertain after conflicting rulings
Claire Holt Reveals Pregnancy With Baby No. 3 on Cannes Red Carpet
Wheeler in Wisconsin: Putting a Green Veneer on the Actions of Trump’s EPA
The FTC says 'gamified' online job scams by WhatsApp and text on the rise. What to know.
Documents in abortion pill lawsuit raise questions about ex-husband's claims
'Therapy speak' is everywhere, but it may make us less empathetic
Sun's out, ticks out. Lyme disease-carrying bloodsucker season is getting longer