the potential ownership group Top Rank signed a letter of intent to purchase the team and move it to New Orleans if debt issues at the Target Center were not resolved. Although a potential local ownership group was identified in late February, local opposition to a perceived bailout of multi-millionaire ownership began to take hold. A citizens opposition group called Don't Target Us (referencing the Target Center in their name) formed to voice their opposition to a public purchase of the facility. Additionally, polling at the time showed support for public intervention as being unfavorable with 60 percent of those polled being against intervention. However, support for intervention on the arena issue began to take shape as well, with several at the local and state level stating their intention to make a deal happen. Additionally, businesses near the arena started a campaign to keep the team in Minneapolis. While political maneuvering was continuing in Minnesota, by early April it was reported that Nashville had become the favored place for relocation over New Orleans. The Nashville offer became the preferred option as it included $80 million for the franchise from Gaylord Entertainment and an additional $20 million to be paid to the city of Minneapolis to pay down debt at the Target Center. New Orleans later reemerged as the lead candidate for relocation by the end of April when Top Rank announced a purchase price of $152.5 million. By early May, the Minnesota state legislature approved a bill that would use public funds to purchase the Target Center for $48 million. The purchase by the state was contingent on ownership agreeing to keep the franchise in the arena for 30 years. However, ownership could not find a local suitor willing to pay what Top Rank had offered for the franchise setting the stage for relocation. Proposed move to New Orleans After months of speculation, on May 23, 1994, Top Rank successfully purchased the franchise for $152.5 million with the intention of relocating it to New Orleans. The purchase occurred following an agreement between Top Rank and Timberwolves ownership that allowed Top Rank to purchase the franchise if no local ownership groups were found by May 20, 1994. On June 6, 1994, Top Rank officially filed the paperwork to the NBA seeking to relocate the Timberwolves to New Orleans for the 1994–95 NBA season. The filings also identified Fred Hofheinz as the