The Minnesota Timberwolves’ home arena, the Target Center, will undergo a $97 million renovation.
According to Kyle Ratke of the Timberwolves’ official website, the renovation will be a collaboration among the Timberwolves, the WNBA’s Minnesota Lynx, Anschultz Entertainment and the city of Minneapolis.
In Ratke’s words,”The goal of the renovation is to have an arena to match the excitement that the Timberwolves and Lynx have brought to the Twin Cities area. The move also solidifies that the Timberwolves and Lynx will stay in Minneapolis until at least 2032.”
The undertaking will also involve a new arena facade as well as new and improved amenities for a better game experience, per the Associated Press.
In terms of the breakdown of the budget, the Timberwolves will shoulder an estimated $43 million while the city of Minneapolis will pay $48.5 million. Building manager AEG will be answerable for $5.5 million. The City Council will vote for approval of the plan on Nov. 12.
Minneapolis mayor R.T. Rybak and Timberwolves owner Glen Taylor made the announcement regarding the Target Center renovation on Oct. 28.
Taylor said the new arena will be “stunning.”
“The new Target Center will be stunning. I am thrilled that the Timberwolves and Lynx fans will soon have a first-class experience when they come to our games. This is a fair and sensible solution. Target Center has a perfect location and good bones, so we’re excited about building something truly special on that strong foundation.”
For his part, Minnesota point guard Ricky Rubio spoke about the new Target Center.
“I’m coming from Europe, and I’ve been in locker rooms with no spaces. Once I came here, I thought (Target Center) was great. Then I see all the other NBA courts and they were even (better)…We have great facilities, but if we can get better, I’m happy with it.”
Renovation is expected to start in 2013 and should be completed within 18-24 months, per the St. Paul Pioneer Press.
The Target Center opened on Oct. 13, 1990 and hosts 200 events and one million visitors annually. It also generates $10 million to $15 million every year in state and local taxes.