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As cameras moved in and out of commercials in Game 3 of the NBA Finals on July 11, ESPN was still advertising something – but not a product. Instead, cameras focused on a neighborhood filled with Milwaukee Bucks fans gathered for an evening vigil reminiscent of a crowd of European footballers.
“I think in our wildest dreams we couldn’t imagine having more people outside than we would have inside,” Bucks and Fiserv forum chairman Peter said on Tuesday. Feigin, at Yahoo Finance Live.
The Milwaukee Bucks will be in the spotlight again on Wednesday night when the Bucks host the Phoenix Suns in Game 4.
“It’s our global publicity,” Feigin said. “I mean, that’s where we have billions of impressions… that’s what you live in professional sport for, is to be in the final and to have those two weeks where the attention of the world is upon you. “
The Bucks opened the Fiserv Forum in August 2018 on 30 acres of land now known as the “Deer District.” The newly created neighborhood is more than a place to have a beer before watching hoops. It is a self-contained part of the city aimed at attracting people all year round.
But often basketball and the neighborhood work together. On July 11, after the Bucks won their first home playoff game in nearly 50 years, the Deer District stole the post-game show. Fireworks erupted in the sky. Crowds chanted so loud Bucks guard Jrue Holiday could barely hear questions from ESPN anchor. At that point, the Deer District became its own character in the history of the 2021 NBA Finals.
In 2015, Feigin described the Deer District as a “365-day attraction for the residents of Wisconsin that will help revitalize downtown Milwaukee,” in a press release announcing new plans for the new stadium and surrounding neighborhood. Once a bustling downtown on the shores of Lake Michigan, Milwaukee’s population growth slowed significantly compared to other Midwestern cities such as Minneapolis, Kansas City, and Indianapolis from 2010 to 2019.
The Bucks aimed to change that narrative by creating a new reason to visit downtown Milwaukee. Construction of the stadium coincided with the meteoric rise of two-time NBA MVP Giannis Antetokounmpo and the Bucks are climbing the Eastern Conference standings. The team invested more than $ 500 million in Fiserv Forum and $ 228 million in Antetokounmpo, betting that their combined success would create a cohesive and profitable couple.
“When you talk about economic development, you’re not just talking about keeping the salary income of NBA players and front-offices, but you’re talking about the gradual growth in real estate value,” Feigin said. “You talk about the ability to perpetuate your tourism activity, your hotel activity. And really … on the qualitative side, giving people a sense of pride and, really, a sense of belonging, of having an attractive place to want to meet and a point of destination.
The Deer District now has several operating restaurants and bars; 242,500 square feet of available office space; and a luxury hotel and apartment complex. As the Bucks chase their first NBA title in 50 years, Feigin is hopeful that the growth on the field and the district around it is not yet over.
“We’ve got the game down,” Feigin said. “We have part of the residential. We need to build sales. We have to activate it. We need to provide content. And it’s a matter of density, you know. These are people 24/7 and activation, 365 days a year. And as you cultivate that, the business continues to evolve.
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Josh Schafer is a producer for Yahoo Finance.
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