Target Center deal bound to a 'mistake'

  • Article by: MAYA RAO , Star Tribune
  • Updated: February 2, 2012 - 12:23 AM

Minneapolis took over the arena 17 years ago, and now it's become a sticking point for a Vikings stadium.

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countyroad32Feb. 1, 1211:01 PM

Ms. Cherryhomes is absolutely correct. $55 million owed on the purchase, $32 million to be spent on maintenance and modernization and $1.6 million in annual operating expenses certainly is an economic impact.

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jerryaldiniFeb. 1, 1211:13 PM

Private stadiums handed over (sold) to municipalities (aka the taxpayer) represent an elephants' graveyard of debt and legal nightmares. Politicians are such chumps when it comes to these deals. Ratner, Wolfenson, Wilf et al really know how to stick it to Joe Taxpayer.

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evenmorejustFeb. 1, 1211:13 PM

This was an outrageous bailout. The legacy politicians in the Mayors office and the City Council should be run out of town on a rail! The big shot owners back in the '90s should have never been bailed out and Wilf should not be bailed out now! St. Paul should have never been given a loan to build the Xcel Center with the Wolves arena available. Now they have two arenas??? Hey Ryback, how about taking that dirt off the roof of Target Center? It will attract moisture and will eventually collapse the roof!

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garagewineFeb. 2, 1212:16 AM

Cherryhomes is absolutely shameless. She ran this ship aground back the 1990s, and still stubbornly refuses to admit her mistakes. The economic impact of the Target Center is confined to that sucking sound you hear coming from the city's budget.

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jtriceFeb. 2, 1212:26 AM

Wilf can have the dome for free and fund the renovation himself. Beyond that, no public money!

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jackstpaulzFeb. 2, 1212:37 AM

evenmorejust: "This was an outrageous bailout. St. Paul should have never been given a loan to build the Xcel Center with the Wolves arena available." 1. If you think that bailout is bad, I'm sure you relaize the folly of spending $150 million to "renovate" Target Center. 2. Notice th eword "loan" in your comment about Xcel center. Make that re-paid loan. Not state tax money like they want for Vikes stadium AND Target Center in Mpls. 3. target Center was a dog fromt eh start. Cheaply made. Teh NHL wasn't willign to put a team in it, so to egt an NHL team we needed a new arena. I'm left of center politically, and don't care for Norm Coleman at all, but he did a great job on the Xcel and getting the Wild. Mpls couldn't do it. No STATE tax money went into Xcel. City paid it off early. Now, it's far superior to Target Center. Get rid of Target Center is the solution. Don't throw $150 million after tens of millions of bad money.

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jackstpaulzFeb. 2, 1212:56 AM

Chris Coleman nailed this issue a few months ago and was ignored. When he tried to address it on Tuesday, he did a horrible explaining it, but his basic argument is correct: Don't sink $150 million into the inferior arena in the area when we don't have the market-size to support 2 major league arenas. Get rid of the inferior arena, Target Center.

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garagewineFeb. 2, 12 2:02 AM

@jackstpaulz It's only a loan if you actually pay it back. St. Paul still has about $100 million in outstanding debt on Xcel. They keep trying (to no avail) to dump this debt on the state. So far the state has not been suckered in. Expect to see another bill to similar effect this session.

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hauts81Feb. 2, 12 2:17 AM

It's funny how nobody wants to spend money to keep the teams around but also doesn't want to lose them. If Target Center was such a mistake why doesn't Rybak just blow the place up and take Coleman up on his offer to host the Wolves at The X? Because the Target Center draws people to his city.

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cmo55Feb. 2, 12 4:21 AM

Wait for about 15 years when the new Viking's "Peoples Stadium" needs $500 million in renovations to keep it competitive. Some things never change and never will. Sports Owners expect arenas and stadiums to be invested in by taxpayers as part of the local infrastructure. I have had enough. This isn't Democrat versus Republican, its is economic insanity. a Cold Omaha is looking better all the time.

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