Minneapolis and Timberwolves officials announced Monday a deal to roughly split the cost of a $100 million renovation of downtown’s city-owned Target Center, nearly three years after the plan was first outlined.
The face-lift 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.
The city of Minneapolis will contribute $48.5 million, the Wolves $43 million and AEG arena management $5.5 million.
The deal keeps the Timberwolves, Lynx and AEG at the arena until 2032.