Shama: Timberwolves & Lynx CEO Says Arena in Minneapolis the Goal

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BleedGopher

BleedGopher

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Per Shama:

Asked by Sports Headliners if for certain the Wolves and Lynx want to remain in the city, Caldwell said: “That’s the goal. We’re in a (Target Center) lease right now for 10 more years in Minneapolis. I look forward to working with the mayor and the council and hopefully we can find a good location for everyone.”

Multiple sites for a new arena have drawn speculation including City Center, the Farmers Market near downtown, the Star Tribune printing property in the North Loop and the former Graco site in Northeast Minneapolis. The latter is a potential 40-acre site that could be attractive but there are concerns about traffic flow. It’s not impossible the Target Center site could be under consideration for either a new building or a renovation.

At this early stage of the process, Caldwell said there are many options when asked about the Target Center site. “I am not sure yet. We’re still looking through…different locations but everything is on the table. I just started a few months ago, so I am trying to get to know everyone. We want to take our time and make sure we pick the right site. But at the same time we want to do what’s best for the community and we gotta get a lot of feedback.”

Is there a commitment from ownership to financing a new arena privately? “Not yet,” Caldwell answered. “No…like I mentioned earlier all options are on the table. So, we just gotta see. Marc and Alex are fully dedicated to building a new arena, and they’ve committed we’re staying in Minnesota. And we’re just trying to find the right site and see what the best deal is for everyone.”


Howl Wolves!!
 

BleedGopher said:
Per Shama:

Asked by Sports Headliners if for certain the Wolves and Lynx want to remain in the city, Caldwell said: “That’s the goal. We’re in a (Target Center) lease right now for 10 more years in Minneapolis. I look forward to working with the mayor and the council and hopefully we can find a good location for everyone.”

Multiple sites for a new arena have drawn speculation including City Center, the Farmers Market near downtown, the Star Tribune printing property in the North Loop and the former Graco site in Northeast Minneapolis. The latter is a potential 40-acre site that could be attractive but there are concerns about traffic flow. It’s not impossible the Target Center site could be under consideration for either a new building or a renovation.

At this early stage of the process, Caldwell said there are many options when asked about the Target Center site. “I am not sure yet. We’re still looking through…different locations but everything is on the table. I just started a few months ago, so I am trying to get to know everyone. We want to take our time and make sure we pick the right site. But at the same time we want to do what’s best for the community and we gotta get a lot of feedback.”

Is there a commitment from ownership to financing a new arena privately? “Not yet,” Caldwell answered. “No…like I mentioned earlier all options are on the table. So, we just gotta see. Marc and Alex are fully dedicated to building a new arena, and they’ve committed we’re staying in Minnesota. And we’re just trying to find the right site and see what the best deal is for everyone.”


Howl Wolves!!
Click to expand...
I suppose that's the only way to get out of the lease is stay in Mpls?
 



I can't comprehend why you would build another arena right in this city. Stay with the Target Center if that's the case. If I was the Wolves ownership, I'd want it in the suburbs.
 



Per Business Journal:

Timberwolves CEO: Downtown Minneapolis 'primary focus' for Target Center replacement​


“Our primary focus is to build a new arena in downtown Minneapolis,” Caldwell said. “But it can’t be our only option. We're going to have to have plans B and C, but the owners have been fully committed that the team stay in Minnesota.”

While downtown is the priority, Caldwell declined to disclose specific sites under consideration, citing the sensitivity of land negotiations. However, he made clear that any new arena would require a significantly larger footprint than Target Center.

Currently, the Target Center sits on 4 acres, giving it one of the smallest physical footprints in the NBA with effectively no potential to expand.

Caldwell described an optimistic timeline that included identifying a site this calendar year, beginning construction in roughly three years and opening a new arena in about five years.

“Best case scenario would be five years from today. But it's probably more likely in the six-, seven-year range,” he said.

Caldwell said he already has met with Minneapolis Mayor Jacob Frey and characterized the early discussions as positive.

“He thinks that the city can use a revitalization,” Caldwell said. “He sees an opportunity for a billion-plus investment in some way, shape or form, with an arena and multiuse.”

Before joining the Timberwolves and Lynx last August, Caldwell served as CEO of the NHL’s Florida Panthers, where he worked on multiple public-private sports facility projects, including two major arena renovations and a $100 million multiuse practice facility.


Howl Wolves!!
 

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