Menu
NBA Season Preview

Minneapolis, T'Wolves Agree On Tentative Deal For $100M In Target Center Upgrades

Minneapolis and T'Wolves officials yesterday announced a deal to "roughly split the cost" of a $100M Target Center renovation, nearly three years "after the plan was first outlined," according to a front-page piece by Eric Roper of the Minneapolis STAR TRIBUNE. The renovation will "redesign the exterior of the 23-year-old building, create additional gathering spaces, improve pedestrian traffic flow, upgrade amenities, increase the seating capacity, add additional VIP clubs and fix loading dock problems." It is "expected to make the building more competitive for concerts, as well as a better home for the sports teams." The agreement, which "must be approved by the City ­Council, would commit" $48.5M in city sales taxes to the renovation, plus another $43M from the T'Wolves. Venue operator AEG "would kick in" another $5.5M. The deal keeps the T'Wolves, WNBA Lynx and AEG at the arena until '32. If approved by the council, construction "could begin in spring or summer" of '14 and continue for 18-24 months. Minneapolis Mayor R.T. Rybak said that it will "occur in phases and allow for continued use of the building for most, if not all, of that time." The cost of the renovation was "initially pegged" at $150M, but that cost "was scaled down during negotiations." Rybak: "The bottom line is had this deal not been done, we still would have been putting money into this building ongoing. But it would have deteriorated much more rapidly.” The City Council will "hold a hearing on the agreement this Thursday, with a full vote expected on Nov. 12" (Minneapolis STAR TRIBUNE, 10/29). In St. Paul, Belden & Brothers note the city's financial contribution "will come from local sales and hospitality taxes freed up under the 2012 state legislation that allowed construction" of the new Vikings stadium. Improvements also "are ahead for St. Paul's Xcel Energy Center, which sometimes competes for shows with Target Center." The Wild manage Xcel Energy Center, and a team spokesperson said that improvements "could begin next summer" (ST. PAUL PIONEER PRESS, 10/29).

SBJ Morning Buzzcast: April 25, 2024

Motor City's big weekend; Kevin Warren's big bet; Bill Belichick's big makeover and the WNBA's big week continues

TNT’s Stan Van Gundy, ESPN’s Tim Reed, NBA Playoffs and NFL Draft

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with TNT’s Stan Van Gundy as he breaks down the NBA Playoffs from the booth. Later in the show, we hear from ESPN’s VP of Programming and Acquisitions Tim Reed as the NFL Draft gets set to kick off on Thursday night in Motown. SBJ’s Tom Friend also joins the show to share his insights into NBA viewership trends.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2013/10/29/NBA-Season-Preview/Target-Center.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2013/10/29/NBA-Season-Preview/Target-Center.aspx

CLOSE