New Wolves owners want to leave Target Center. Heres whats at stake for downtown Minneapolis.

Alex Rodriguez and Marc Lore, the new owners of the Timberwolves and Lynx, plan to replace the Target Center with a new arena, potentially moving away from downtown Minneapolis. They are exploring various locations that align with their vision for a vibrant entertainment district. Rodriguez highlighted the revenue-generating potential of such a district, referencing successful venues like the New England Patriots’ Patriot Place. At 35 years old, the Target Center is the NBA's second-oldest arena and faces structural limitations, such as a small footprint and few premium seating options. Mayor Jacob Frey expressed support for a new arena but emphasized that taxpayer dollars should not fund the project.

Lore noted that while they have not settled on funding specifics, they are committed to privately financing the new arena. The search for an appropriate site continues without urgency, as the owners prioritize finding the ideal location. The project could significantly impact Minneapolis, similar to the economic boost seen from the construction of Target Field.