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 Celtics improving Finals odds The Boston Celtics are showing signs that they want to be in the hunt to win the NBA Finals next season. Do oddsmakers feel the Celtics are...
Thumbnail Warriors re-sign Curry, Iguodala The Golden State Warriors are committed to keeping their championship team together. The team re-signed a number of players last week to improve their odds to...
Thumbnail Paul George joins the Thunder The Oklahoma City Thunderwon the Paul Georgesweepstakes last week. How has this impacted the team’s ability to win the NBA...
Thumbnail Rockets improve Finals odds After making a big splash this week, are the Houston Rockets making a push to win the 2018 NBA Finals?
Thumbnail Updated NBA Finals Odds After a busy week with the NBA Draft taking place, which team improved their odds to win the 2018 NBA Finals?

NBA Team Pages