Target Center To Get $97M Renovation, Wolves Extend Lease To 2032

Post #1 » by **RealGM Wiretap** » Mon Oct 28, 2013 4:08 pm

The City of Minneapolis, the Minnesota Timberwolves and Lynx and Anschutz Entertainment Group (AEG) have agreed to the major terms of a $97 million deal to renovate the 23-year old city-owned Target Center. Minneapolis will contribute $48.5 million to the project, the Timberwolves and Lynx will pay $43 million and AEG will pay $5.5 million.

“The new Target Center will be stunning. I am thrilled that Timberwolves and Lynx fans will soon have a first class experience when they come to our games,” said Glen Taylor, majority owner of the Minnesota Timberwolves and Lynx professional basketball teams, which both use Target Center as their home. “This is a fair and sensible solution. Target Center has a perfect location and good bones, so we’re excited about building something truly special on that strong foundation.”

As part of the deal, the Wolves have extended their lease to 2032.

Via RealGM Staff Report

imDatknicksTape · Post #2 » by **imDatknicksTape** » Mon Oct 28, 2013 5:36 pm

People were getting so mad that MSG did an renovation for 1 billion dollars.

But this wack arena gets a 97 mil renovation? what a joke. it should be much less.

Post #3 » by **pbj** » Mon Oct 28, 2013 5:38 pm

imDatknicksTape wrote:People were getting so mad that MSG did an renovation for 1 billion dollars.

But this wack arena gets a 97 mil renovation? what a joke. it should be much less.

What the hell do you know about the Target Center or renovating costs?

MalcolmXing · Post #4 » by **MalcolmXing** » Mon Oct 28, 2013 6:06 pm

This useless team gets renovated but our stupid owner won't renovate one of the most storied franchises ever..BOOOO

Throwback24 · Post #5 » by **Throwback24** » Mon Oct 28, 2013 8:09 pm

MalcolmXing wrote:This useless team gets renovated but our stupid owner won't renovate one of the most storied franchises ever..BOOOO

Raptors are more storied.

crackrocks · Post #6 » by **crackrocks** » Mon Oct 28, 2013 8:34 pm

Throwback24 wrote:
MalcolmXing wrote:This useless team gets renovated but our stupid owner won't renovate one of the most storied franchises ever..BOOOO

Raptors are more storied.

Raptors more storied than the Bulls? What the hell are you on?

MKGsMotor · Post #7 » by **MKGsMotor** » Mon Oct 28, 2013 8:51 pm

imDatknicksTape wrote:People were getting so mad that MSG did an renovation for 1 billion dollars.

But this wack arena gets a 97 mil renovation? what a joke. it should be much less.

Why are you so upset about a building renovation? The money's not coming out of your pocket..

Badandy · Post #8 » by **Badandy** » Mon Oct 28, 2013 10:46 pm

I'm sick of politicians using public money for arenas/exhibition halls. The positive economic impact of these renovations are not nearly as apparent as they like to let on.

MinneOOPalis · Post #9 » by **MinneOOPalis** » Tue Oct 29, 2013 12:01 am

A lot of haters in this thread lol

Post #10 » by **Klomp** » Tue Oct 29, 2013 12:04 am

Badandy wrote:I'm sick of politicians using public money for arenas/exhibition halls. The positive economic impact of these renovations are not nearly as apparent as they like to let on.

Well considering Target Center is a city-owned building, what did you expect?

MalcolmXing · Post #11 » by **MalcolmXing** » Tue Oct 29, 2013 12:08 am

Throwback24 wrote:
MalcolmXing wrote:This useless team gets renovated but our stupid owner won't renovate one of the most storied franchises ever..BOOOO

Raptors are more storied.

LMFAO because the owner was born in Toronto but grew basketball up in the USA?

Raptors are more storied than a team that has had the greatest player & greatest team record not the mention the team that catapulted the NBA into foreign relevance? ok.