About Target Center
Target Center opened it doors on October 13, 1990 at the cost of approximately $104,000,000. The arena took 27 months to build and was the first major arena in the U.S. that was designated completely non-smoking – as it remains to this day.
Target Center’s original owners, Marv Wolfenson and Harvey Ratner, owned and operated the venue and the Minnesota Timberwolves for the first 5 years. In March of 1995, Harv and Marv sold the arena to the City of Minneapolis and Ogden Entertainment was brought on board to manage the facility. Ogden Entertainment managed the facility until September 22, 2000 when the management rights were acquired by SFX Entertainment.
In early 2001, Clear Channel Entertainment bought SFX Entertainment and the facility became part of the Clear Channel Entertainment family. Clear Channel Entertainment managed the venue and a Minneapolis based regional concert promoter office until May 2004. On May 1, 2004 a joint venture between the Minnesota Timberwolves organization joined forces with Los Angeles based concert promoter, Nederlander Concerts, to create Midwest Entertainment Group (MEG). At that time, this joint venture stepped in as the venue manager. This partnership oversaw the day-to-day operation and booking of Target Center until spring 2006. In May of 2006, Midwest Entertainment Group (MEG) shifted from the joint venture partnership to 100% ownership by the Minnesota Timberwolves organization.
On May 2, 2007 AEG Facilities assumed the management contract of Target Center. The City of Minneapolis continues to own the arena while AEG Facilities manages its day-to-day operations. Target Center is part of an esteemed network of AEG Facilities including Staples Center (Los Angeles, CA), The O2 (London), Sprint Center (Kansas City), Prudential Center (Newark), Home Depot Center (Los Angeles) and Nokia Theater (Dallas and New York City).
AEG’s business is performance driven – whether it’s sports, music, broadcast or live events. For nearly a decade, AEG, the world’s largest owner of team sports, has continued to expand its businesses to include ownership and operation of state-of-the-art venues, major sports franchises, event management and production, and related services. With superior properties in every operating division, AEG is poised to embrace new challenges, nurture innovation, and capture the imagination of audiences around the globe.
For more information visit www.aegworldwide.com