It's a deal: $97 million Target Center renovation agreement reached

There's a "new" Target Center coming your way Wolves Nation, in about 2 or 2 1/2 years.

They had a news conference down at Target Center this morning to announce there's finally a deal after many delays while negotiations simmered: The city of Minneapolis will contribute $48.5 million, the Wolves $43 million and AEG arena management $5.5 million. There also will be a $50 million capital improvement fund to "continue to keep the facility competitive."

The deal will extend the leases of the Wolves and Lynx to 2032.

Design work begins this winter, construction is set to start next summer with a timeline of 18 to 24 months for completion.

Improvements includes:

* Redesign of the arena's exterior.

* More gathering/meeting spaces and additional club areas.

* Improved pedestrian flow into, out of and throughout the arena.

* Modernized loading docks.

* Increased seating capacity for concerts and family shows.