New investors could mean a new arena for Milwaukee Bucks

MILWAUKEE (WITI) -- The BMO Harris Bradley Center is where the Milwaukee Bucks play now, but if the team is going to be there for the long run -- that could change.

As part of the ownership agreement, the NBA can buy the team back if there's no new arena by 2017. Obviously, that is on the radar for new local investors.

Milwaukee Business woman Valerie Daniels-Carter is CEO and President of V&J Holding Companies, a Board Member for the Green Bay Packers, and a Bucks fan.

"Because I am from Milwaukee of course I believe in Wisconsin sports," said Daniels-Carter.

Now Daniels-Carter can add Bucks Owner to that impressive resume.

"The business side of it is what I think I bring to the table. The franchising experience. The relational experience with people," said Daniels-Carter.

Daniels-Carter is just one of the 5 new local investors to the team that make up the group, "Partners for Community Impact."

"They're going to provide connections to the community that the Bucks didn't have before," Rich Kirchen, with the Milwaukee Business Journal.

The two majority owners of the team, Wesley Edens, and Marc Lasry are from New York -- so Rich Kirchen says this adds a new element.

"It's a big benefit in terms of connections, contacts, getting support both for if there is public funding for an arena project and getting more fans involved in the team," said Kirchen.

Not to mention, Kirchen says, the private money these local owners could bring in for a new arena...

"The more private money they have, the less they might need from the public," said Krichen.

Daniels-Carter says she looks forward to all the group will be able to do for the team and the city -- and admits that a new arena could be a big part of that, for more than one reason.

"We want to be able to say we have a state of the art arena, we have wonderful housing in urban environments. So we need to be able to make certain statements other cities are making, and I think the addition of a new arena will do that," said Daniels-Carter.

The PCI Group is made up of all African Americans -- making the Bucks the 2nd NBA with African American owners.

Additionally, the Bucks organization has announced two other new local owners -- Gale Klappa, the Chairman and CEO of Wisconsin Energy Corporation, and Brookfield Developer, John Hammes.