SBD/Closing Bell

T'Wolves, Minneapolis Reach Deal To Fund Target Center Upgrades

Minneapolis and T'Wolves officials today announced a deal to split the cost of a $97M renovation of the city-owned Target Center. The agreement, pending City Council approval, would commit $48.5M in city sales taxes to the project, plus another $43M from the NBA team, while venue operator AEG would contribute another $5.5M. The project "will redesign the exterior of the building," upgrade amenities and "increase the seating capacity." The deal keeps the T'Wolves, WNBA Lynx and AEG at the arena until '32 (STARTRIBUNE.com, 10/28).
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