Target® Corp. (NYSE: TGT) and the Minnesota Timberwolves, along with AEG Facilities, announced today they have extended the Target Center naming rights partnership through 2014. The three-year extension allows the parties to gain a better understanding of the potential for future renovations to Target Center.
“Target is pleased to continue our sponsorship of the Target Center and help provide our hometown with a facility where guests can experience exciting sports, entertainment and events,” said Shawn Gensch, vice president, marketing, Target. “Target Center is important to the vibrancy of downtown Minneapolis, and we look forward to carrying on our great relationship with the Timberwolves.”
Target has been the sole naming-rights holder of Target Center since the building opened in 1990.
“We are excited to extend our partnership with Target for the naming rights of Target Center," said Timberwolves President Chris Wright. "This short-term extension allows both Target and the Timberwolves to fully understand the future renovation plan to Target Center. Target has been a tremendous partner for our franchise and this agreement demonstrates Target's continued commitment to the building, downtown Minneapolis and the Timberwolves."
The Target Center is managed by AEG Facilities and owned by the City of Minneapolis. Steve Mattson, vice president and general manager, AEG Facilities, added, “We are honored and excited to continue our association with Target. Target Center is a world-renowned arena that has consistently offered our community a diverse mix of the best entertainment available. We have been lucky enough to share an incredible brand identity with Target for 21 years. We look forward to many more years to come.”
Minneapolis-based Target Corporation (NYSE:TGT) serves guests at 1,762 stores in 49 states nationwide and at Target.com. In addition, the company operates a credit card segment that offers branded proprietary credit card products. Since 1946, Target has given 5 percent of its income through community grants and programs; today, that giving equals more than $3 million a week. For more information about Target’s commitment to corporate responsibility, visit Target.com/hereforgood
About the Minnesota Timberwolves
The Minnesota Timberwolves, a member of the National Basketball Association, have offered sports fans in the Upper Midwest the entertainment of NBA basketball since the team's inception in 1989. The Timberwolves' home schedule features 41 games at Target Center in downtown Minneapolis. Owned by Mankato, Minn., native Glen Taylor, the Timberwolves set an NBA attendance record during their inaugural season and have reached the playoffs eight times, including a run to the Western Conference Finals in 2004. For Timberwolves ticket information, log on to Timberwolves.com