The Milwaukee Bucks released the following statement from President Peter Feigin:

"We’re grateful for the leadership of County Executive Chris Abele and his team to seize this opportunity to revitalize the heart of Downtown Milwaukee. As we forged this partnership, county and city officials have been incredibly dedicated to ensuring this development will benefit the entire community.

"The Park East land is a vital piece to our owners’ vision that goes beyond a new arena by attracting hundreds of millions more in private investment to our community. This sale represents the next step in a major economic development that will change the landscape of Milwaukee County. On this ground, we envision a vibrant community space featuring housing, office, commercial and retail opportunities, that will link the neighboring communities together with a world-class sports and entertainment destination.

"Starting with our practice facility, we can’t wait to begin work and start creating jobs, attracting further investment and becoming a great partner in the revitalization of Milwaukee."