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T'Wolves Owner Taylor Discusses Revised Operations Approach, Target Center Upgrades

T'Wolves Owner Glen Taylor has "revised the organization's structure and its approach to basketball operations" and recently discussed the "realities of pro sports and the difficulties of repeatedly recalibrating a business in the public eye," according to a Q&A with Adam Platt of TWIN CITIES BUSINESS. Taylor, who "returned to active management at age 75" after the passing of Flip Saunders in '15, has hopes of "finding the recipe for a return to playoff competition" for the first time since '04. Below are excerpts from the Q&A, some of which have been edited for brevity.


Q: Flip was more than a general manager. He was destined to be in leadership here for as long as you remained owner. 
Taylor: And beyond. Flip understood more than basketball. He understood business. He understood how to bring in business, talk to customers and did it regularly. He had a natural ability. He liked it. Most basketball guys have to be talked into that side of things. It intrigued me to have a partner who could watch both sides of the business.

Q: Was there a plan for how Flip’s ownership would vest?
Taylor: We put that on the back burner -- let’s get this going and we can work out the details. We trusted each other. We did discuss that if I sold the team for health reasons or something similar he would be part of the successor group, but we never got to the details stage.

Q: Have the economics of owning a pro sports team played out as you expected [when you bought the team] in '95?
Taylor: We foresaw a continuous line of growth that was relatively consistent. But instead we’ve had spikes with revenue sharing, new (labor) agreements, salary caps, etc. They have been mostly unknowns, unpredictables that have driven major changes in economics.

Q: Were there years when the team was in the red?
Taylor: Yes. We purchased the team for $88 million. I borrowed half. So we laid out a program to pay off the debt, which we did. We started losing money during the years we were winning and had big investment in player salaries. I couldn’t afford Kevin (Garnett’s) $120 million salary. But I couldn’t afford not to. The other period we lost money was during the years where the (NBA’s) player agreement had 57 percent of revenues going to player salaries. It was not a Wolves issue, it was a league issue; 23 of 30 teams were losing money.

Q: Target Center renovations are beginning, but they are modest and you will be the only team in the region without a 21st-century venue. Will it be an impediment to your business goals?
Taylor: A new arena was not in the cards. I had to deal with reality. The politicians were tired, and I was on the bottom of the list. Also, my own history [in the state legislature] and political beliefs made it difficult for me to make too big an ask. We’re spending $49 million on upgrading the fan experience with an early emphasis on suites and premium options, which we are very behind on (TWIN CITIES BUSINESS, 11/ '16 issue).

HOW SUITE IT IS
: Target Center recently completed its Treasure Island Resort & Casino premium level, with the grand opening for suite holders being Nov. 1 for the T'Wolves home opener against the Grizzlies. Along with naming rights of the entire level, Treasure Island will also have a presence in the reinvented Club TI. There are over 200 seats within the club itself and an additional 100 seats in section 121 that receive access into the club. China-based television maker TCL, a new partner with the team, will hold naming rights for the TCL Theater Boxes (T'Wolves). In Minneapolis, Jason Gonzalez noted suite holders will experience "expanded club space, new-to-market suites and boxes, a gourmet dining experience, a bar overlooking center court, views of the Minneapolis skyline and Hennepin Ave. through new floor-to-ceiling windows, and upgraded traditional suites." Target Center was the "first building in the country built with an entire suite level." Previous renovations "altered that setup and now the number of traditional suites has been reduced to 24" (STARTRIBUNE.com, 10/25).


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