New Basketball Arena Discussion

[BikesOnFilm]

Well if Frey is going to keep pushing his nonsense idea of tearing down City Center as the future home of a new stadium, he better be prepared to pay for it.

[mattaudio]

The only thing stopping Nicollet or Hennepin from true urban success is another block-sized megaproject with lots of public funds. Works every time.

[BigIdeasGuy]

I haven't seen anything that the Frey is making a big deal about the exact location of a new arena other than downtown. Sure he has a personally preferred site, I think we all do own favorites, but there is zero evidence that the mayor is holding up the process over that currently.

I'm also not going to tell people they can't be cynical about the Wolves mentioning public funding but however there is zero actual details or info of what the ask is or might be at this point

[BikesOnFilm]

City Center is the site he’s brought up on multiple occasions, and the reason there’s activity on this thread to begin with is he and the TWolves CEO were talking about it on stage together and he said he still preferred a site on Nicollet Mall. Maybe there’s a huge empty lot on Nicollet I’ve missed recently, but otherwise I’d expect he’s referring to the same idea he’s brought up before, just in vague terms.

It’s a near certainty that the Timberwolves ownership would not be interested in paying for a skyscraper and the massive expense of tearing it down, so the only way something like that would happen is through some kind of TIF or private-public partnership where the public paid for the demo.

I don’t know how referencing the mayor’s own words and ideas is read as “the mayor is holding up the process” though. You’re right there’s zero evidence - I didn’t assert there was any to begin with.

[Emerson Uptowner]

https://www.startribune.com/timberwolve ... /601889671

Of course they want money from Minneapolis...

Is that a problem?

[Bakken2016]

https://www.startribune.com/timberwolve ... /601889671

Of course they want money from Minneapolis...

Is that a problem?

Yes, the public should not have to shill out for billionaires.

[SurlyLHT]

https://www.startribune.com/timberwolve ... /601889671

Of course they want money from Minneapolis...

Is that a problem?

Yes, the public should not have to shill out for billionaires.

My opinion, if you want to share the cost with the public you should share your profits. A stadium makes the team worth a lot more and teams are appreciating overall. When you sell the team and cash in the public/government gets 5%, 10% whatever. Or maybe whatever the current estimated value of the team is each year 3% of that is paid to the government/public.

Could fund libraries, or parks, community centers whatever.

[Tom H.]

Just give the state a 5-10% equity stake in the team, simple as.

ETA: Of course the other owners would never allow this for the precedent it sets, but if you want the state to fund your CapEx, it's not unreasonable to seek an equity stake, IMHO.

[BikesOnFilm]

Might not be sports league precedent, but IIRC we recently did this to Intel at the federal level.

But of course, time will tell if that’s actually something we’re allowed to do or if it only works under the current special birthday boy rules we’re following until 2029.

[Didier]

IMO there's a distinction between the public directly subsidizing a stadium and the public paying for related infrastructure. Obviously this is based on nothing, but the team's repositioning seems like it's setting up the latter. A direct subsidy to the team would be a pretty hard sell right now.

[Didier]

Another interesting (but totally premature) discussion is what to do with the Target Center space if the arena indeed moves. I'd like to see it transformed into a public square of some sort. Although I also think that would be the ideal location for a new arena, if they can make it work.