Target Ready To Reap Rewards For $100M Stadium Naming Rights Deal

Artist's rendition of Target Field. (Photo: Minnesota Ballpark Authority)January 4, 2010: Target Corp. is ready to see some dividends from the 25-year deal it signed for naming rights to the new baseball stadium that will be home to MLB's Minnesota Twins beginning with the 2010 season. According to Mortenson Construction, all major construction work on the $425 million Target Field has been completed more than two months ahead of schedule, and less than two and a half years since the official groundbreaking on August 30, 2007. The Twins and the Minnesota Ballpark Authority, the state-appointed group that oversaw the construction and will continue to oversee operation of Target Field, received the certificate of occupancy on Dec. 22, 2009.

Target, which is headquartered in Minneapolis, signed the naming rights deal in September 2008 for the 40,000-seat stadium. Although figures were not released, analysts said the deal could be $3-4 million a year, or $100 million over the course of the current contract. Target also gets signage in the stadium and rights to a pedestrian bridge and public gathering area called Target Plaza that will connect Target Field to downtown Minneapolis. Target also has naming rights to Target Center, home to the NBA's Minnesota Timberwolves.

The Twins had played at the Hubert H. Humphrey Metrodome since 1982. It is still the home stadium for the NFL's Minnesota Vikings.

The first Twins games will be a pair of exhibition games against the St. Louis Cardinals on April 2-3. The first official home game will be against the Boston Red Sox on April 12. Target Field is among the stadium's being considered to host an upcoming MLB All-Star Game. The 2010 All-Star Game will be played in Anaheim, home of the Angels, and the 2011 All-Star Game will be played in Phoenix, home of the Arizona Diamondbacks. Among the sites being considered for 2012 and beyond are Boston's Fenway Park to commemorate the 100th anniversary of the stadium, Kansas City and the New York Mets' Citi Field.

"This is truly an historic day in Twins history," Jerry Bell, president of Twins Sports, Inc., said in a statement. "Considering the complexity of the site and extreme level of attention to detail in design and construction, to be complete two months ahead of schedule is a feat to be recognized and celebrated."

Among other Target Field construction facts, per Mortenson Construction:
• Construction cost: $425 million.
• Construction time: 28 months (August 2007 - December 2009).
• 40,000 seat, open-air, natural grass ballpark.
• Ballpark size is just over 1,000,000 square feet (10.5 acres) built on an 8-acre site.
• More than 2,000,000 total labor hours by more than 3,500 workers; with an 800 peak workforce.
• 55,000 cubic yards of concrete, 4,600 tons of structural steel, 5,000 tons of rebar, 51 miles of piles, and 100,000 square feet, or 100 semi-truck loads, of limestone.

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