Oct 28, 2013, 6:04 PM EST
You can check Minnesota off the list of teams that could be moving.
It was never likely they would be gone — Timberwolves owner Glen Taylor is a former state senator, not the guy likely to turn his back on the state — but a an agreement on a new, $97 million renovation of the Target Center comes with a new lease through 2032, the team announced Monday.
“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,” Taylor, majority owner of the Minnesota Timberwolves and WNBA’s Lynx, said in a released statement. “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 City of Minneapolis will contribute $48.5 million to the project, the Timberwolves and Lynx will pay $43 million and AEG (which operates the building) will pay $5.5 million.
The renovations will be interior and exterior. Of course, there will be more premium seating as part of the renovation because that is what pays the bills in modern sports economics.
In case you’re curious about the next team that could move, it is the Milwaukee Bucks, their lease is up in four years. However, I wouldn’t bet on it, especially with Adam Silver taking over as commissioner — he is more committed to market stability than his predecessor.
Nov 27, 2014, 2:00 PM EST
Clifford has benched Stephenson for consecutive fourth quarters
Nov 27, 2014, 12:30 PM EST
Suns guard drives for reverse slam, cuts for monstrous alley-oop
Nov 27, 2014, 11:00 AM EST
Very nice gesture
Nov 27, 2014, 9:30 AM EST
He missed seven games with a hamstring injury.
Nov 27, 2014, 8:00 AM EST
Beal’s max extension projects to pay more than $118 million over five years
Nov 27, 2014, 1:37 AM EST
LeBron James and the Cavaliers were good, Chase Budinger had the flub.
Nov 27, 2014, 12:28 AM EST
Ish Smith will stay on the roster.
Nov 27, 2014, 12:01 AM EST
If the Cavs can defend like that on a regular basis they will be far more dangerous.
Nov 26, 2014, 10:45 PM EST
Bulls, Pacers, Bucks, Pistons to Western Conference
Nov 26, 2014, 9:15 PM EST
He also talks Milwaukee, doing away with conferences.
Nov 26, 2014, 8:15 PM EST
With Popovich out, Ettore Messina takes over Spurs
Nov 26, 2014, 8:00 PM EST
Maverick shows off long arms
Nov 26, 2014, 7:00 PM EST
Harden shifts defensive-woes attention onto Knicks forward
Nov 26, 2014, 6:00 PM EST
Haywoode Workman should have let it fly
Nov 26, 2014, 4:59 PM EST
You have to like that he wants to step up, but based on history, a lot of top point guards in the league just started drooling.
Nov 26, 2014, 3:55 PM EST
Don’t forget to be thankful for the Raptors, too.
Nov 26, 2014, 3:02 PM EST
Nov 26, 2014, 2:02 PM EST
Suns have three capable guards, and Thomas is the one coming off the bench.
Nov 26, 2014, 1:15 PM EST
Anthony was in severe pain after suffering back spasms on Monday against the Rockets.
Nov 26, 2014, 12:30 PM EST
Chandler didn’t fit the triangle but Rick Carlisle knew how to use him properly.
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