MINNEAPOLIS (AP) - The Minnesota Timberwolves and the City of Minneapolis have announced a $97 million renovation plan for Target Center.
The long-negotiated plan finally was announced on Tuesday and is scheduled to be voted on for approval by the City Council on Nov. 12. The Timberwolves will pay $43 million toward the project, Minneapolis will contribute $48.5 million and building manager AEG will pay $5.5 million.
The parties first announced plans for a $150 million renovation in February 2011 as part of a bill to get the Minnesota Vikings a new football stadium. The total number dropped in the final plan, but there is an additional $50 million capital expenditure fund to keep the building updated going forward.
The deal also extends the Timberwolves' lease at the arena through 2032.
Advertisement

Top NBA Public Bets

Advertisement

NBA Top Stories

Thumbnail Updated NBA Championship Odds Now that the NBA All-Star Game has wrapped, which team is currently favored to win this year's championship?
Thumbnail Pelicans' own Davis hopes to lead West On the heels of a rather tepid Saturday in New Orleans, can the NBA’s marquee talents bring the Smoothie King Center to life this...
Thumbnail Thompson, Irving load up for downtown duel With Stephen Curry out of the mix this time around, a lot of people feel compelled to classify the 2017 3-point contest as a wide-open affair. Klay...
Thumbnail Magic phenom aims to dazzle New Orleans After narrowly losing to Zach LaVine 12 months ago, Aaron Gordon appears fully committed to winning the 2017 All-Star dunk contest. Will anyone else even put up...
Thumbnail A-listers hit hardcourt in New Orleans This weekend, the Mercedes-Benz Superdome belongs to the biggest names in hoops – for the most part. Various entertainers will hit the hardwood tonight,...

NBA Team Pages