Report: Rodriguez and Lore targeting Minneapolis land for new arena

Could the Timberwolves build a new arena?

Jan 27, 2020; Minneapolis, Minnesota, USA; The Minnesota Timberwolves honor Kobe Bryant and his daughter Gianna outside the Target Center for the game against the Sacramento Kings. Mandatory Credit: Bruce Kluckhohn-USA TODAY Sports / Bruce Kluckhohn-USA TODAY Sports

Timberwolves part-owners Alex Rodriguez and Marc Lore are targeting land near the Minneapolis Farmers Market for a new arena.

That's according to a story from longtime Minnesota sports reporter David Shama, who says the minority Wolves owners have an interest in land near 312 East Lyndale Avenue North.

The area near the farmers market has long-been mooted as a possible location for a sports arena or stadium, and was earmarked almost a decade ago as a site for Minnesota United's stadium, before the team ultimately decided to build in St. Paul.

Word is #Timberwolves owners Alex Rodriguez and Marc Lore are interested in building a new arena on land near the Minneapolis Farmers Market.https://t.co/3oERX3QA4k

— David Shama (@DavidShamaMinn) June 3, 2024

The ongoing ownership dispute between the Rodriguez and Lore team and longtime owner Glen Taylor has raised questions about the future of the franchise.

Ever since Rodriguez and Lore became invested in the Wolves, rumors have swirled about a possible move to Las Vegas or Seattle, but if the report is accurate then the pair are continuing to develop their long-term plans for the franchise, and see its future in Minneapolis.

Despite receiving a publicly-funded, $145 million renovation in 2017, Target Center is the second-oldest arena in the entire NBA, only ahead of the historic Madison Square Garden. The Wolves have played in the arena since 1990.

If Rodriguez and Lore are indeed planning on a new arena for the Wolves there will be plenty of hurdles to jump, including acquiring the land, funding for the facilities and getting clearance from the city.

Meanwhile the ownership dispute with Taylor is heading to formal arbitration.