The Timberwolves have been seeking renovations for the Target Center for a while now, but there are still cost disputes holding them up, the Star Tribune reported.
Renovations are supposed to start in May 2013. The city of Minneapolis and the Target Center, however, haven't agreed on who will pay what, the Minneapolis/St. Paul Business Journal reported.
According to the report, city and team officials have met twice but still haven't agreed on how to split costs. Estimates have reportedly fallen in the past year-and-a-half from $150 million to $100 million.
The city of Minneapolis' lead official on the project, Jeremy Hanson Willis said he was frustrated that no deal had been done.
"We've said that we need to have significant private contribution in order for us to do this renovation," Hanson Willis said. "And we don't yet have confirmation about to what degree the private sector is going to contribute to this."
Minneapolis wants private and public funding to go into the project equally.