Wisconsin Gov. Walker proposes "Pay Their Way" plan to help fund new Milwaukee Bucks arena

IndustriesAssociated Press

Wisconsin Gov. Scott Walker says the state will help the Milwaukee Bucks pay for a new basketball arena with $220 million in bonds that would be paid for by projected growth in income taxes from NBA players.

Walker said Tuesday the "Pay Their Way" proposal would protect the state's taxpayers, while keeping the team in Milwaukee. A new arena could cost roughly $500 million.

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New owners bought the team in April and have promised to contribute $150 million toward the new arena. Former owner and ex-U.S. Sen. Herb Kohl has promised $100 million of his own money to replace to help replace the BMO Harris Bradley Center.

Walker says Bucks players and visiting teams generate about $6.5 million currently, but that is expected to grow.