Lawmakers, Vikings Announce Stadium Deal
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ST. PAUL, Minn. (WCCO) — Lawmakers have reached a deal with the Minnesota Vikings to build a new football stadium on the current Metrodome site in Minneapolis.
The agreement to build a new “People’s Stadium” was announced Thursday morning, which includes support for more than 13,000 jobs, requires no general fund tax dollars and will keep the Vikings in Minnesota for the next 30 years.
Gov. Mark Dayton said this is the result of countless hours, discussions, negotiations — and reiterated that it will not include a single dollar of general fund tax revenues.
The Vikings and stadium negotiators met for two hours in the Governor’s office Wednesday night, going over final details.
Sen. Julie Rosen, who helped author the bill, said they are ready to work and excited to see this go to a vote.
“Today is the official hand off,” she said. “We have a plan in place, a very good plan.”
The Vikings stadium cost will be $975 million, with the state paying 26.7 percent, the city chipping in 22.7 percent and the team paying 50.6 percent. That breaks down to $398 million for the state, $150 million upfront from the city and $427 million upfront from the Vikings.
The city and the Vikings will also be required to pay operating and capital expenses. Those additional costs bring their totals to $338.7 million for Minneapolis and $754.1 million for the team, respectively.
“This is an exciting moment because here we are, at the cusp of getting this done,” said Vikings owner Zygi Wilf. “We look forward to bringing this project forward to the legislature and to the people for consideration.”
Officials say this stadium will be modeled after the Lucas Oil Field in Indianapolis. The stadium will also include a large public plaza.
Ted Mondale said the goal is to have the Vikings spend only one season playing at TCF Bank Stadium.
The stadium is expected to draw more than one million visitors annually into the community — through high school and collegiate sports, events and Vikings games. A major league soccer franchise could also be included in the plan.
The stadium will be owned and operated by a new Stadium Authority — with three members appointed by Dayton and two members appointed by the city.
Vikings owner Mark Wilf said this agreement represents a real compromise.
“This location is the most cost-efficient stadium alternative,” he said. “We have an opportunity to leverage existing infrastructure, including highways, the Hiawatha Light Rail line and the future Central Corridor.”
Dayton said a stadium vote needs to happen this year. The stadium agreement is contingent upon legislative approval and the support of the Minneapolis City Council. Dayton admitted the latter will be a challenge, but they’re ready to work to come to an agreement. Legislative authors expect to introduce stadium legislation on Monday.
Web Extra: Gov. Dayton Announces Stadium Deal