Timberwolves and Lynx Contribute Additional $2.5 Million to Target Center Renovation
Investment to Fund Total Renovation of Club TI
Minneapolis-St. Paul –The Minnesota Timberwolves and Lynx announced the organization has contributed an additional $2.5 million to the renovation of Target Center. The investment covers a total renovation of Target Center’s premium level space Club TI (Treasure Island) and other improvements to Target Center.
“Today’s announcement is another significant step in our quest to provide the best experience possible for our fans,” said Timberwolves and Lynx Majority Owner Glen Taylor. “As we move forward, these upgrades will go a long way to ensure Target Center remains one of the nation’s premier event centers. We also thank Treasure Island for its longstanding partnership and look forward to delivering a first-class experience to our loyal customers in our new premium space.”
The Club TI floor plan will be opened up to create a symmetrical layout encompassing the two hospitality areas, which will now act as eating areas for the club with pool tables and shuffle boards on either side. The furniture will be upgraded to match the overall tone of the Premium Level while giving Club TI a unique look. A walk-up merchandise store will be added in the club to service the entire Premium Level. Treasure Island has been the presenting partner of Target Center’s premium level space since 2012.
Renderings of the new Club TI space can be found below:
A complete overview of the new Club TI space can be found here.
"The new and improved Club TI at Target Center will provide fans with yet another significant upgraded experience on game nights," said Prairie Island Indian Community Tribal Council President Shelley Buck. "The fun and excitement that will take place in the new Club TI is reflective of the premium experience we strive to provide our guests each and every day at Treasure Island Resort & Casino."
Additional improvements will include enhanced technology, a new Timberwolves and Lynx Team Store on the 200-Level, concession stand upgrades and an enhanced food experience for Lexus Courtside Club members.
With today’s announcement, the total amount of money allotted to the renovation of Target Center is $147.5 million. Target Center officially reopened to the public on October 12, 2017 following an 18-month renovation project. Premier events in the last year following Target Center’s reopening have included the 2018 WNBA All-Star Game, 2018 NBA Playoffs, Metallica, the Big Ten/ACC Volleyball Challenge and Cirque Du Soleil. The Wolves will open the home portion of the team’s 2018-19 regular season schedule on Friday, October 19 vs. Cleveland.
About the Minnesota Timberwolves
The Minnesota Timberwolves completed a successful 2017-18 season that included a return to the NBA playoffs. Off the court, the team grew in nearly every area of the business, notably a 15% year-over-year increase in attendance, 16 regular season home game sellouts, which accounted for the most in a season since the 1991-92 season, and a 20% increase in the full season ticket base, putting the team in the top 10 in the NBA in new full season tickets sold. The team also set an all-time franchise record in partial season ticket plans, group tickets and suite rentals, and were either sold out or over 90% capacity in every premium space. Television ratings increased 78% year-over-year, the third highest YOY increase in the league, and merchandise sales were up 70%, fueled by the team’s new branding and new relationship with Nike. Other new partnerships with Fitbit, Anheuser-Busch and Hy-Vee aided in a 25% increase in corporate partnerships. Prior to the start of the season, the team completed a $150 million renovation of Target Center, which was a nominee for Sports Facility of the Year at the Sports Business Journal Awards and was named a Top Project of 2017 by Finance & Commerce.