Carson, Inglewood Stadium Reps Meet With NFL NBA To Test For HGH In '15-16 49ers Address Turf Issues Ahead Of Super Bowl 50 DraftServ Coming To United Center During Playoffs Churchill Downs Bans Selfie Sticks NBA Sets New Attendance Record Nats, Astros Submit Plans For Spring Training Home NFL's Grubman Wants Signs Of Progess In Oakland Nike Close To Taking Over NBA Apparel Rights Churchill Downs Unveils Suite Upgrades
Upcoming Conferences and Events
TARGET CENTER DEAL GETS CITY COUNCIL APPROVAL
Published February 13, 1995
"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).