Skip to content

Timberwolves to get $97 million arena renovation

Oct 28, 2013, 6:04 PM EST

TargetCenter

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.

Latest Posts
  1. Hornets’ Kemba Walker has successful knee surgery, expected to miss a minimum of 6 weeks

    Jan 29, 2015, 12:01 AM EST

    New Orleans Pelicans v Charlotte Hornets Getty Images

    The good news is that Walker may return in as little as six weeks, which means Charlotte’s playoff chances should remain intact.

  2. George Gervin on Klay Thompson’s 37-point quarter: ‘I don’t feel he broke my record’

    Jan 28, 2015, 11:15 PM EST

    NBA All-Star Jam Session 2014 Getty Images

    The Hall of Famer held the previous record with 33 points in a period, but did so before the three-point line was implemented.

  3. NBA says Matt Barnes’ $25K fine had nothing to do with Suns owner Robert Sarver

    Jan 28, 2015, 8:50 PM EST

    Los Angeles Clippers v Phoenix Suns Getty Images

    Barnes immediately played the victim card after receiving the fine, but the NBA (and the video) say otherwise.

  4. Phil Jackson denies illegally deflating basketballs while playing for the Knicks

    Jan 28, 2015, 7:50 PM EST

    Phil Jackson, James Dolan, executive chairman of the Madison Square Garden Company AP

    “Softer but not illegal,” Jackson attempted to clarify.

  5. LeBron James out Wednesday vs. Blazers with wrist injury

    Jan 28, 2015, 7:00 PM EST

    Cleveland Cavaliers v Golden State Warriors Getty Images

    Cleveland is just 1-8 without LeBron in the lineup this season.

  6. Kobe Bryant expected to be ready for start of 2015-16 season after undergoing successful shoulder surgery

    Jan 28, 2015, 6:37 PM EST

    Phoenix Suns v Los Angeles Lakers Getty Images

    Bryant will miss the remainder of the current season, and is expected to be sidelined for nine months.

  7. J.R. Smith says he’s playing better in Cleveland because there’s less partying

    Jan 28, 2015, 6:13 PM EST

    Cleveland Cavaliers v Detroit Pistons Getty Images

    One may have to work a little harder to find the late night parties in Cleveland.

  8. Bucks sign Jorge Gutierrez to 10-day contract

    Jan 28, 2015, 5:30 PM EST

    Jason Kidd AP

    Larry Sanders’ suspension allows Milwaukee to add 16th player

  9. Tayshaun Prince: “Obviously I want to be in a winning situation”

    Jan 28, 2015, 4:45 PM EST

    Boston Celtics v Denver Nuggets Getty Images

    He is likely bought out if the Celtics can’t find a trade partner.

  10. Nets doctor expects Mirza Teletovic to make full recovery

    Jan 28, 2015, 1:55 PM EST

    Washington Wizards v Brooklyn Nets Getty Images

    Teletovic being released from hospital today

  11. Phil Jackson once admitted championship Knicks deflated balls

    Jan 28, 2015, 1:17 PM EST

    Jackson AP

    Jackson said breaking rule gave New York an edge due to team’s style of play

  12. Kevin Durant out against Knicks

    Jan 28, 2015, 12:42 PM EST

    Oklahoma City Thunder v New York Knicks Getty Images

    Thunder remain heavy favorites

  13. Report: Terrence Ross riding bench in Toronto but will not be traded

    Jan 28, 2015, 12:05 PM EST

    Philadelphia 76ers V Toronto Raptors Getty Images

    The Raptors are trying to be patient and tap into his potential.

  14. Nikola Mirotic’s unique style rewarding Bulls for waiting on him

    Jan 28, 2015, 11:17 AM EST

    Chicago Bulls V San Antonio Spurs Getty Images

    Mirotic, drafted in 2011, is a darkhorse challenger to Andrew Wiggins for Rookie of the Year

  15. Report: Executives have proposed moving up NBA trade deadline

    Jan 28, 2015, 9:59 AM EST

    Dallas Mavericks v New Orleans Pelicans Getty Images

    It probably would matter less than before, but why change the date?

Featured video

Who should be All-Star Game reserves?
Top 10 NBA Player Searches
  1. K. Bryant (6917)
  2. H. Whiteside (6732)
  3. R. Rubio (6559)
  4. C. Anthony (6495)
  5. K. Martin (6303)
  1. D. Howard (6300)
  2. N. Batum (6164)
  3. K. Walker (5965)
  4. T. Jones (5516)
  5. L. Aldridge (5315)