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CITY ASKS T-WOLVES OWNER FOR MORE IN TARGET CENTER DEAL
Published January 17, 1995
The Minneapolis City Council has proposed a revised financial plan to purchase the Target Center with taxpayer-backed general obligation bonds for $40M. Part of the deal requires T- Wolves buyer Glen Taylor to pay an additional $14M to offset the original asking price of $54M. Taylor's agreement to pay Harvey Ratner and Marv Wolfenson $88.5M for the team is hung up over delays in the Target Center buyout (Diaz & Weiner, Minneapolis STAR-TRIBUNE, 1/13). Taylor had no response, other than to say: "That would create other problems" (Patrick Sweeney, St. Paul PIONEER-PRESS, 1/13).