Twins say they want to play in Minneapolis for decades to come

The Twins again are signaling they want to play at Target Field until at least 2059, if they have an ongoing source of taxpayer funding to help keep the ballpark in top shape.

The Minnesota Ballpark Authority, the public entity created to manage the Minneapolis stadium, approved a “principles of agreement” with the Twins Thursday that would extend the team’s lease another 20 years beyond the current pact that ends in 2039. The agreement also includes two additional, optional 10-year lease extensions.

However, the deal is contingent on the narrowly divided Legislature agreeing to convert an existing sales tax and about 20% of the money going to the stadium. The Twins signed a similar agreement last year, but the proposal failed to win approval, despite bipartisan support.

After the Pohlad family announced in October they were exploring a sale, team and stadium officials say supporting a 20-year lease extension shows the Twins want to stick around long-term.

Hennepin County leaders want lawmakers to continue the 0.15% sales tax that funded Target Field after the debt is paid off later this year. About $40 million in future tax proceeds would be split between HCMC and North Memorial Hospital and more than $10 million a year would be set aside for stadium upkeep and improvements.

“I’m guardedly optimistic the county is going to be successful because it is a top priority to fund their health care infrastructure,” said Dan Kenney, executive director of the Ballpark Authority. “They have to have a funding source. If they don’t have it from a sales tax, the alternative is the property tax.”

Under the ballpark portion of the proposal, $9 million a year would go into a capital fund for upkeep and improvements to the stadium. The Twins' annual rent would climb to $4.5 million a year and would also go into that fund.

Dave St. Peter, the outgoing Twins president and CEO, said the team is proud of the public-private partnership that built Target Field, which spurred development in the North Loop.

“Looking to the future, this proposed lease extension demonstrates the Twins’ long-term commitment to maintain the quality of this ballpark in keeping with Major League Baseball standards and to evolve the Target Field experience,” St. Peter said in a statement.

Kenney noted that the team currently pays all operational and routine maintenance costs for the stadium. The Twins have spent $268 million operating the stadium since it opened in 2010.

Currently, the cost of major upgrades to the stadium are shared by the team and the ballpark authority. For instance, they split the cost of the new scoreboard that debuted in 2023.