I never heard that the wolves tried for a new building. (Doesn't mean it didn't happen.). I think the wolves renovation was an add on to the vikings deal and was a part of the negotiations between Minneapolis and the state over who was paying for what.Yeah but, you're not entirely wrong @jamiche .
NY Islanders (upcoming next year), LA/Anaheim, Miami, Phoenix, San Jose are all examples of where the NHL team has its own arena when the market has NBA teams.
Particularly in the latter three examples, it seems like the NHL arena is "farther away" while the NBA arena is "closer" the (main) city center. SJ if you consider it as its own separate metro, of course, then the arena is right downtown.
But in any case, I don't think the Wolves would play in an arena that was given to them for free even, if it was out in Lakeville, Monticello, or up by Running Aces, for example. I think they want to be in either downtown and probably Mpls.
Xcel is not brand new, true. 20ish years old now. But I think major arenas need to be more like 40+ years old before they reasonably can be considered "time to just knock it down and start over".
And then TC just had that reno. If they really wanted to knock it down and start over, they never should've done that.
Assuming they tried that (new arena) first, city/state said "no way", so they compromised on the reno.
IIRC, most of the funds went to "invisible," boring and necessary upgrades to the facility (loading, docks, freight elevators, indoor parking, etc.). Not much went to the stuff we see. Another renovation isn't going to do much good because you can't fix the seating imbalance and suite shortage without basically starting over.