Advertisement

 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.

Top NBA Public Bets

NBA Top Stories

Thumbnail Tim Duncan retires The San Antonio Spurs lost their franchise player on Monday, as Tim Duncan elected to retire after an amazing 19-year...
Thumbnail Rockets give Harden an extension The Houston Rockets locked up their star player for years to come, announcing an extension with James Harden on...
Thumbnail OKC's title odds plummet without Durant Following the announcement that Kevin Durant will be signing with the Golden State Warriors, the Oklahoma City Thunder's NBA title...
Thumbnail Durant heading to Golden State The shoe finally dropped in the Kevin Durant sweepstakes, as he has elected to sign with the Golden State Warriors for next...
Thumbnail Warriors now 2/3 to win title with Durant The Golden State Warriors were already favored to win the 2017 NBA Finals championship, but their odds improved even more after...
More inNBA Articles  

NBA Team Pages

Advertisement