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         "Finally putting the Target Center issue behind them," the
    Minneapolis City Council voted 9-3 Friday to approve the city's
    $72M buyout of the arena.  The city's purchase, "part of a
    public-private plan" to keep the T-Wolves in MN, is linked to
    Glen Taylor's $88.5M deal to buy the team.  The city will pay for
    the building by selling bonds, and about 20 local corporations
    will loan the city $12.6M.  As part of the deal, the city will
    pay about $54.6M to former Target Center owners Harvey Ratner and
    Marv Wolfenson, and assume $16M in debt.  NBA Commissioner David
    Stern says the deal is "a good sign."  Stern: "Everything seems
    to be in place.  Now we have to wait for the bonds to be issued
    after what we believe will be a 30-day or so period" (Patrick
    Sweeney, SAINT PAUL PIONEER-PRESS, 2/11).

    Print | Tags: Facilities, Minnesota Timberwolves, NBA
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