ImageImage

Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46

Moderators: MickeyDavis, paulpressey25

Chuck Diesel
RealGM
Posts: 15,092
And1: 8,361
Joined: May 23, 2004

Re: Wisconsin Herd Thread 

Post#921 » by Chuck Diesel » Mon Aug 19, 2019 11:03 pm

Mags FTW wrote:Menominee Nation Arena files for Chapter 11 bankruptcy protection amid lawsuits

https://www.jsonline.com/story/news/2019/08/19/menominee-nation-arena-files-chapter-11-bankruptcy-protection/2055091001/


Yikes. Everyone’d be way better off if the Billionaires just bought the whole damn operation.
User avatar
paulpressey25
Senior Mod - Bucks
Senior Mod - Bucks
Posts: 55,147
And1: 14,137
Joined: Oct 27, 2002
     

Re: Wisconsin Herd Thread 

Post#922 » by paulpressey25 » Tue Aug 20, 2019 4:10 pm

Mags FTW wrote:Menominee Nation Arena files for Chapter 11 bankruptcy protection amid lawsuits

https://www.jsonline.com/story/news/2019/08/19/menominee-nation-arena-files-chapter-11-bankruptcy-protection/2055091001/


Most arena projects aren't financially viable on their own. Whether it is a big boy like Fiserv Forum or a small $13mm project like the Oshkosh arena.

The Oshkosh arena is pretty similar to some of the smaller Ice Arenas/Hockey Centers/etc. that are around the country. Most end up floating bonds and going bankrupt.

But it is very surprising this thing went belly-up within one year of opening. Usually these hang on a couple years.
In depth discussions here - shorter stuff on Twitter

https://twitter.com/paulpressey25
User avatar
Ron Swanson
RealGM
Posts: 13,773
And1: 8,691
Joined: May 15, 2013

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#923 » by Ron Swanson » Tue Aug 20, 2019 4:54 pm

So what exactly does this mean for the Herd? Is the team just gonna buy the arena or are they gonna move them somewhere else in state?
User avatar
paulpressey25
Senior Mod - Bucks
Senior Mod - Bucks
Posts: 55,147
And1: 14,137
Joined: Oct 27, 2002
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#924 » by paulpressey25 » Tue Aug 20, 2019 6:00 pm

Ron Swanson wrote:So what exactly does this mean for the Herd? Is the team just gonna buy the arena or are they gonna move them somewhere else in state?


So, Billionaires with a "b" could come in and write a check to buy the arena, by paying off the creditors. But likely they won't. Additionally, the Oshkosh arena owners who developed the project, Fox Valley Basketball Pro Basketball, Inc, might like to hang onto ownership and hope they can get their finances in order over the next year.

The Herd will likely play in the building this year, business as usual. What the bankruptcy filing does however, is stop all the creditors from seizing the building and taking control. The general contractor on the project, Bayland Buildings, is still owed $13mm on the project.

It is rare for a general contractor to finish a project of this size, and take a note back from the owner. But evidently Bayland was going on promises from the arena operators that they'd get bank financing at some point, from somebody.

The project cost $21.5 million, so there are other creditors who loaned the arena owners money that are likely behind Bayland in priority. Additionally the City of Oshkosh pledged payments to the arena over a period of years to cover some costs ($5.5mm). Oshkosh hasn't made those payments, because of these issues.

The whole thing is a civic mess, and going to cause a real black eye up there.
In depth discussions here - shorter stuff on Twitter

https://twitter.com/paulpressey25
User avatar
MartyConlonOnTheRun
RealGM
Posts: 13,623
And1: 2,254
Joined: Jun 27, 2006
Location: Section 212 - Raising havoc in Squad 6

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#925 » by MartyConlonOnTheRun » Tue Aug 20, 2019 6:42 pm

So Hoopman is suing Pro Basketball Inc? That is amazing.
Finley on pace for: 51 receptions, 780 yards, 7TD Iceness predicted 35-55.

Image
User avatar
BroncoBuck
Starter
Posts: 2,427
And1: 1,032
Joined: May 19, 2015
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#926 » by BroncoBuck » Tue Aug 20, 2019 6:59 pm

Terrible management. I’ve been to ~8 or so Herd games and the regular seats are usually pretty much sold out, but the VIP area or whatever it’s called (it’s a deck with couches and what not) has been empty every time. I’ve gone to games with large groups of people (up to 20) where we easily would’ve upgraded if anyone even bothered to ask us or up-sell us on the option in the first place. Like others have said, these arenas tend to fall into the red, but this escalated very quickly. The Bucks originally said they’d take over running the facility, but I think they have a lot more red tape to deal with now.

I wonder if parking will remain free going forward. That seemed like a huge income generator that they purposefully avoided charging.
chonestown
Assistant Coach
Posts: 4,222
And1: 4,525
Joined: Mar 13, 2010
Location: Stretch Cadillacs, fruit cocktails

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#927 » by chonestown » Tue Aug 20, 2019 7:02 pm

Guys, all I have is a serviceable internet connection, a public school education and a head full of whippet-fueled visions, but I see no reason why we can't pool our resources together and buy the Herd. A couple 20s chipped in here, a round of bake sales, a car wash staffed by the gold-hearted, hoop-lovin' ladies of Beansnappers in Mackville, WI...comrades, this is our ticket to the semi big-time. Think of it, a cooperative-style outfit serving to season talent for the parent club and I dunno, allow Chuck Diesel a laboratory to indulge his affinity for Balkan phenoms and NAIA whodats. Whoooo. Powerful.

Tell me about the rabbits again, George. Tell me about the rabbits.
“I went to Toronto, I went to Atlanta/I used to drink Pepsi, but now I like Fanta.”

-Hannibal Burress's impression of Canadian music figure Drake
User avatar
trwi7
RealGM
Posts: 105,884
And1: 19,806
Joined: Jul 12, 2006
Location: Aussie bias
         

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#928 » by trwi7 » Tue Aug 20, 2019 7:07 pm

chonestown wrote:Tell me about the rabbits again, George. Tell me about the rabbits.


I TUCK MY JEANS INTO MY BOOTS.
stellation wrote:What's the difference between Gery Woelful and this glass of mineral water? The mineral water actually has a source."


I Hate Manure wrote:We look to be awful next season without Beasley.
User avatar
paulpressey25
Senior Mod - Bucks
Senior Mod - Bucks
Posts: 55,147
And1: 14,137
Joined: Oct 27, 2002
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#929 » by paulpressey25 » Tue Aug 20, 2019 7:46 pm

MartyConlonOnTheRun wrote:So Hoopman is suing Pro Basketball Inc? That is amazing.


The irony there was amazing.
In depth discussions here - shorter stuff on Twitter

https://twitter.com/paulpressey25
User avatar
bizarro
RealGM
Posts: 14,820
And1: 7,288
Joined: Jul 13, 2005
Location: Portland, OR
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#930 » by bizarro » Tue Aug 20, 2019 8:04 pm

chonestown wrote:Guys, all I have is a serviceable internet connection, a public school education and a head full of whippet-fueled visions, but I see no reason why we can't pool our resources together and buy the Herd. A couple 20s chipped in here, a round of bake sales, a car wash staffed by the gold-hearted, hoop-lovin' ladies of Beansnappers in Mackville, WI...comrades, this is our ticket to the semi big-time. Think of it, a cooperative-style outfit serving to season talent for the parent club and I dunno, allow Chuck Diesel a laboratory to indulge his affinity for Balkan phenoms and NAIA whodats. Whoooo. Powerful.

Tell me about the rabbits again, George. Tell me about the rabbits.



(Annotated actual phone conversation. 8.20.2019. The Year of our Lord, G.A.)
"O.K. Someday—we're gonna get the Herd together and we're gonna have a little arena and a couple of cheerleaders an' a mascot and some music and—"

"An' live off the fatta their trophies'," Twirlz shouted. "An' have basketballs. Go on, Chonesy! Tell about what we're gonna have in the atrium and about the halftime shows and about the heated beer garden in the winter and the hot food, and how thick the cream is on the beer like you can hardly cut it. Tell about that Chonesy."

"Why'n't you do it yourself? You know all of it."

"No…you tell it. It ain't the same if I tell it. Go on…Chonesy. How I get to tend the Herd."
"I'm not going to hit the ground running, I'm going to hit the ground like a rocket ship"

~ Basketball Expert
User avatar
LittleRooster
Lead Assistant
Posts: 5,903
And1: 1,512
Joined: Apr 02, 2010
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#931 » by LittleRooster » Tue Aug 20, 2019 8:11 pm

bizarro wrote:
chonestown wrote:Guys, all I have is a serviceable internet connection, a public school education and a head full of whippet-fueled visions, but I see no reason why we can't pool our resources together and buy the Herd. A couple 20s chipped in here, a round of bake sales, a car wash staffed by the gold-hearted, hoop-lovin' ladies of Beansnappers in Mackville, WI...comrades, this is our ticket to the semi big-time. Think of it, a cooperative-style outfit serving to season talent for the parent club and I dunno, allow Chuck Diesel a laboratory to indulge his affinity for Balkan phenoms and NAIA whodats. Whoooo. Powerful.

Tell me about the rabbits again, George. Tell me about the rabbits.



(Annotated actual phone conversation. 8.20.2019. The Year of our Lord, G.A.)
"O.K. Someday—we're gonna get the Herd together and we're gonna have a little arena and a couple of cheerleaders an' a mascot and some music and—"

"An' live off the fatta their trophies'," Twirlz shouted. "An' have basketballs. Go on, Chonesy! Tell about what we're gonna have in the atrium and about the halftime shows and about the heated beer garden in the winter and the hot food, and how thick the cream is on the beer like you can hardly cut it. Tell about that Chonesy."

"Why'n't you do it yourself? You know all of it."

"No…you tell it. It ain't the same if I tell it. Go on…Chonesy. How I get to tend the Herd."


This is ******** fantastic


Sent from my iPhone using Tapatalk
GoBrewersGo
Freshman
Posts: 88
And1: 42
Joined: May 19, 2015

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#932 » by GoBrewersGo » Tue Aug 20, 2019 8:15 pm

They built that arena in the worst part of Oshkosh. Every time I drive past there, coming from the north side, the whole area looks like a slum. I still think they should've built that thing in Appleton near the Timber Rattlers stadium. Or, at least on the west side of Oshkosh near the freeway. The arena itself is fairly nice considering it's for g league basketball. They get some pretty lousy acts to come there though, which apparently haven't generated much revenue.

Sent from my SM-J727P using RealGM mobile app
User avatar
trwi7
RealGM
Posts: 105,884
And1: 19,806
Joined: Jul 12, 2006
Location: Aussie bias
         

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#933 » by trwi7 » Tue Aug 20, 2019 8:25 pm

bizarro wrote:
chonestown wrote:Guys, all I have is a serviceable internet connection, a public school education and a head full of whippet-fueled visions, but I see no reason why we can't pool our resources together and buy the Herd. A couple 20s chipped in here, a round of bake sales, a car wash staffed by the gold-hearted, hoop-lovin' ladies of Beansnappers in Mackville, WI...comrades, this is our ticket to the semi big-time. Think of it, a cooperative-style outfit serving to season talent for the parent club and I dunno, allow Chuck Diesel a laboratory to indulge his affinity for Balkan phenoms and NAIA whodats. Whoooo. Powerful.

Tell me about the rabbits again, George. Tell me about the rabbits.



(Annotated actual phone conversation. 8.20.2019. The Year of our Lord, G.A.)
"O.K. Someday—we're gonna get the Herd together and we're gonna have a little arena and a couple of cheerleaders an' a mascot and some music and—"

"An' live off the fatta their trophies'," Twirlz shouted. "An' have basketballs. Go on, Chonesy! Tell about what we're gonna have in the atrium and about the halftime shows and about the heated beer garden in the winter and the hot food, and how thick the cream is on the beer like you can hardly cut it. Tell about that Chonesy."

"Why'n't you do it yourself? You know all of it."

"No…you tell it. It ain't the same if I tell it. Go on…Chonesy. How I get to tend the Herd."


Why the **** do I gotta be Lennie?
stellation wrote:What's the difference between Gery Woelful and this glass of mineral water? The mineral water actually has a source."


I Hate Manure wrote:We look to be awful next season without Beasley.
User avatar
MickeyDavis
Global Mod
Global Mod
Posts: 62,719
And1: 15,991
Joined: May 02, 2002
Location: The Craps Table
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#934 » by MickeyDavis » Tue Aug 20, 2019 8:26 pm

I didn't know there was a good part of Oshkosh.

Image
A fly was very close to being called a land because that's what it does half the time - Mitch Hedberg
User avatar
trwi7
RealGM
Posts: 105,884
And1: 19,806
Joined: Jul 12, 2006
Location: Aussie bias
         

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#935 » by trwi7 » Tue Aug 20, 2019 8:30 pm

MickeyDavis wrote:I didn't know there was a good part of Oshkosh.

Image


It's no Winneconne, that's for sure.
stellation wrote:What's the difference between Gery Woelful and this glass of mineral water? The mineral water actually has a source."


I Hate Manure wrote:We look to be awful next season without Beasley.
chonestown
Assistant Coach
Posts: 4,222
And1: 4,525
Joined: Mar 13, 2010
Location: Stretch Cadillacs, fruit cocktails

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#936 » by chonestown » Tue Aug 20, 2019 8:49 pm

trwi7 wrote:Why the **** do I gotta be Lennie?


Look man, next time I'll reference "Miami Vice" and you can be Crockett or Tubbs, alright.
“I went to Toronto, I went to Atlanta/I used to drink Pepsi, but now I like Fanta.”

-Hannibal Burress's impression of Canadian music figure Drake
User avatar
humanrefutation
Forum Mod
Forum Mod
Posts: 25,255
And1: 8,258
Joined: Jun 05, 2006
       

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#937 » by humanrefutation » Tue Aug 20, 2019 10:18 pm

Oshkosh B'Gosh that was quick!

...

...

I'll see myself out.
User avatar
buckboy
General Manager
Posts: 8,065
And1: 3,523
Joined: Nov 05, 2004
Location: At the Gettin' Place
     

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#938 » by buckboy » Wed Aug 21, 2019 1:28 am

chonestown wrote:Guys, all I have is a serviceable internet connection, a public school education and a head full of whippet-fueled visions, but I see no reason why we can't pool our resources together and buy the Herd. A couple 20s chipped in here, a round of bake sales, a car wash staffed by the gold-hearted, hoop-lovin' ladies of Beansnappers in Mackville, WI...comrades, this is our ticket to the semi big-time. Think of it, a cooperative-style outfit serving to season talent for the parent club and I dunno, allow Chuck Diesel a laboratory to indulge his affinity for Balkan phenoms and NAIA whodats. Whoooo. Powerful.

Tell me about the rabbits again, George. Tell me about the rabbits.


I'm in for 50 bucks.
"lol Bucks fans saying the bucks are getting fouled every possession. Are you guys watching Giannis? He literally fouls on every drive."

-ajones9219, a Celtic fan who may or may not be prone to hyperbole
User avatar
MartyConlonOnTheRun
RealGM
Posts: 13,623
And1: 2,254
Joined: Jun 27, 2006
Location: Section 212 - Raising havoc in Squad 6

Re: Wisconsin Herd Thread - Oshkosh Arena files for Bankruptcy, pg. 46 

Post#939 » by MartyConlonOnTheRun » Wed Aug 21, 2019 3:10 am

buckboy wrote:
chonestown wrote:Guys, all I have is a serviceable internet connection, a public school education and a head full of whippet-fueled visions, but I see no reason why we can't pool our resources together and buy the Herd. A couple 20s chipped in here, a round of bake sales, a car wash staffed by the gold-hearted, hoop-lovin' ladies of Beansnappers in Mackville, WI...comrades, this is our ticket to the semi big-time. Think of it, a cooperative-style outfit serving to season talent for the parent club and I dunno, allow Chuck Diesel a laboratory to indulge his affinity for Balkan phenoms and NAIA whodats. Whoooo. Powerful.

Tell me about the rabbits again, George. Tell me about the rabbits.


I'm in for 50 bucks.

Better investment than a billboard :D
Finley on pace for: 51 receptions, 780 yards, 7TD Iceness predicted 35-55.

Image

Return to Milwaukee Bucks