Timberwolves upgrade sponsors ahead of renovation work

Previous sponsors becoming founding partners of US$130 million stadium upgrade.

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National Basketball Association (NBA) outfit Minnesota Timberwolves and their women’s NBA side Lynx have named seven founding partners, as the team prepares for a US$130 million arena renovation.

The partners, all of which have previously signed deals with the teams, include naming rights partner Target, the Mayo Clinic, US Bank, Federated Insurance, Jack Link’s, Treasure Island Resort & Casino and Chinese-based TV manufacturer TCL.

All of the company’s deals have now been upgraded to ‘founding partner’ status, and they will each contribute long-term investment to the stadium renovation.

In return, each firm will receive a customised package, which will include a physical presence inside the arena, outdoor and indoor digital signage and category exclusivity.

The Target Center has been the home of both the Timberwolves and the Lynx since 1990, when it was first built, and work on the renovation is scheduled to begin in 2017.

“We’re executive to announce our partnerships with these outstanding companies,” said Timberwolves and Lynx chief executive Ethan Casson.

“These founding partners embody the same values and like-mindedness as the team. They are seeking to use their association with us to drive awareness and engagement and we are thrilled to welcome them to our family.”

Earlier this year, the Timberwolves became the first NBA side to have Chinese investment, when Shaghai-based businessman Lizhang Jiang bought a minority stake in the team.

The side have had a slow start to the 2016/17 season, winning just two of their eight games so far. 

National Basketball Association (NBA) outfit Minnesota Timberwolves and their women’s NBA side Lynx have named seven founding partners, as the team prepares for a US$130 million arena renovation.

The partners, all of which have previously signed deals with the teams, include naming rights partner Target, the Mayo Clinic, US Bank, Federated Insurance, Jack Link’s, Treasure Island Resort & Casino and Chinese-based TV manufacturer TCL.

All of the company’s deals have now been upgraded to ‘founding partner’ status, and they will each contribute long-term investment to the stadium renovation.

In return, each firm will receive a customised package, which will include a physical presence inside the arena, outdoor and indoor digital signage and category exclusivity.

The Target Center has been the home of both the Timberwolves and the Lynx since 1990, when it was first built, and work on the renovation is scheduled to begin in 2017.

“We’re executive to announce our partnerships with these outstanding companies,” said Timberwolves and Lynx chief executive Ethan Casson.

“These founding partners embody the same values and like-mindedness as the team. They are seeking to use their association with us to drive awareness and engagement and we are thrilled to welcome them to our family.”

Earlier this year, the Timberwolves became the first NBA side to have Chinese investment, when Shaghai-based businessman Lizhang Jiang bought a minority stake in the team.

The side have had a slow start to the 2016/17 season, winning just two of their eight games so far.