The new owners of the Minnesota Timberwolves and Lynx are making a commitment to Minnesota.

Marc Lore said in a video posted by the team on Wednesday, “We are not moving the team ever.” Alex Rodriguez also suggested an arena upgrade is ahead.

“When you look at it, we’re the second oldest arena after Madison Square Garden, so it’s something that Marc and I’s been in our vision from Day 1,” said Rodriguez.

Target Center is owned by the City of Minneapolis, and last year, the Timberwolves paid $1.6 million in rent, according to a city spokesperson.

“I want the team to stay here,” said Ward 4 Council Member LaTrisha Vetaw. “I am hoping, though, whether it’s renovations or a new stadium, it’s in Minneapolis, of course.”

She sees an upgrade as an opportunity to expand the number of seats at the arena to accommodate more fans and expand the footprint for small businesses.

“What I want to see more of is more jobs,” said Vetaw. “When I go to the Target Center, one of the exciting things for me, one of the reasons I go early, is because I typically run into Northsiders who work there.”

Additionally, improvements could attract more events.

“If there’s an opportunity for us to be more competitive, I’d love to see that,” she said.

Mayor Frey and other city leaders are already urging the Wolves and Lynx’s new owners to pay for a new facility through private investment.

“Mayor Jacob Frey continues to hold the position that any new arena for the Timberwolves must be built without relying on taxpayer dollars,” said Ally Peters, a spokesperson for Frey. “That said, he is encouraged to hear that the new ownership is committed to keeping the Timberwolves in downtown Minneapolis. The city’s identity and economy are closely tied to having a strong sports presence, and the mayor looks forward to working with all stakeholders to explore solutions that benefit the team, the city, and its residents.”

Target Center underwent a roughly $150 million renovation in 2017, with a $74 million commitment from the city and the team paying for the majority of the remaining cost. According to an Office of Public Service spokesperson, the city still has two bond issues outstanding related to it, with about $49.5 million remaining.

“We’re still waiting for those to be paid off,” said Aurin Chowdhury, the Ward 12 council member. “Constituents want to support their local sports team, and they know local government should show up for them, and the way we show up for them is making sure we’re funding our basic services.”

She opposes using taxpayer funds for a new arena, citing the current budget challenges the city faces.

“Our job as local government is to be stewards of taxpayer dollars,” said Chowdhury. “We know at the federal level we are looking at a tremendous crisis.”

Ward 9 Council Member Jason Chavez also believes any upgrades should be paid for by the team’s owners.

“The City of Minneapolis and taxpayers should not be subsidizing a stadium for the wealthy and those who have enough money to build if they want to,” he said. “It’s less funding for homelessness, it’s less funding for our small businesses, it’s less funding to make sure that families can survive in the city when their rent is going up.”

The cost of NBA arenas varies significantly. The new Intuit Dome for the L.A. Clippers carried a $2 billion price tag, while the Milwaukee Bucks’ new arena cost $524 million, with $250 million of it publicly funded.

“I think the only argument that’s going to hold any weight is to threaten to move,” said Art Rolnick, a University of Minnesota associate economist. “Once they say they’re not moving, game’s over.”

Rolnick, who has criticized the use of public funding for stadiums, agrees public perception of these projects has also changed.

“Fifteen years from now, they want upgrades, they want a new stadium, it never ends,” he said. “I think the public has noticed, ‘Hey, these are private businesses.’”

Target Center draws thousands of fans each year. Total attendance at six home NBA playoff games this year was 115,309, according to Meet Minneapolis. A spokesperson for the tourism agency also said seven of the top 25 hotel occupancy nights in Minneapolis this year occurred when the Timberwolves or Lynx had a home game.

“Home Timberwolves and Lynx games are terrific from the standpoint of the energy and activity downtown, economic boost to local businesses, and more opportunities for tourism and hospitality workers to earn a living wage and support themselves and their families,” said Kevin Kurtt, with Meet Minneapolis.

Vetaw hopes a new arena can help continue to revitalize downtown.

“We already have a huge tax burden and a lot of that is coming from downtown not having the tax base it used to have, so there may be ways this stadium can help,” she said. “I’d love to have conversations about that.”