Vikings Stadium Bill Writers Mull Backup Financing

March 6, 2012 3:20 PM

(credit: Minnesota Vikings)

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ST. PAUL, Minn. (AP) — Minnesota lawmakers crafting a Vikings stadium bill are discussing whether and how to include a backup funding stream to a bar gambling plan behind an almost $400 million state contribution.

The hang-up is one reason why legislation for the nearly $1 billion football stadium won’t become public earlier than Monday. That would be more than 10 days after city, state and team officials celebrated a handshake deal to build their treasured franchise a new home.

The difficulty turning a term sheet into actual legislation is but one challenge ahead for the Vikings stadium effort. The session clock is working against advocates: Lawmakers expect to adjourn no later than April 30. A gauntlet of time-consuming committee and floor votes stands between the bill and Gov. Mark Dayton’s desk.

AntiTeabagger

Yeah, it will be called the peoples stadium for a reason, the PEOPLE will end up paying for it!

Stop The Stadium

Gov. Mark Dayton is calling it The People’s Stadium.

Here’s a break down on who would pay for what:

- The state’s $398 million share would come from new electronic pulltabs.

- The city of Minneapolis would kick in $339 million.

- The Vikings would give $754 million to build it and operate it.

Grand Total = $1.5 Billion Dollars.

weswon

EXACTLY! Don’t look for a vote before 11:59 PM on the day of adjournment. The legislators won’t want to have to face the HEAT! It will also probably done with a voice vote so they can all deny their vote, especially in an election year.

Stanley Peterson

Your getting way too wise…. for the DFL an Gov. Mark Dayton. Shame on US! The Dayton Vikings………….hum..????……..

Voice 4 A Reason

Have we actually had any kind of fallout period,for any of the professional stadiums that have ever been built in the state of Minnesota to date that anyone can recall.THATS WHAT I THOUGHT,THE STADIUM WILL BE BUILD OR THEY WILL PLAY IN CALIFORNIA NEXT YEAR..AND FOR ALL THOSE WHO SAY WHO CARES LET THEM LEAVE; IF ALL THE SPORTS TEAMS LEFT MINNESOTA, SO WOULD THE PEOPLE, SO WOULD JOBS, SO WOULD BUSINESSES. CRIME RATE WOULD SPIKE SIGNIFICANTLY AND THE STATE OF MINNESOTA WOULD BECOME 3RD WORLD!!

eggbert

I beg to disagree. The crime rate would DROP if the Vikings leave.

Gee, don’t you follow the news?
Voice 4 A Reason

If someone only lives in a state because of the sports teams….

LET THEM LEAVE. WE ARE BETTER OFF WITHOUT IDIOTS IN OUR MIDST.

Old Nurse

Take your medications, you will feel better. Learn to type without a caps lock
jackactionhero

Why doesn’t Minnesota deserve major sports franchises like the other major metropolitan areas of the country?

States and cities are tripping over themselves to get one of the 4 major American sports in their towns.

Why should Minnesota go the other direction and get rid of sports franchises? For what benefit?

Homer

You want them to stay?

Write a check.

jackactionhero

That isn’t what is being asked of you, so why would you ask it of me?

StanleyPeterson

Then as a good citizen send your money to the Vikling Front Office and you, in return will get a nice letter of Thanks. In the meantime don’t tell the taxpayer to pay for a Peoples Stadium! A billion dollars, forget it! Ufta!

Bob

I thought we voted against public funding a couple of years ago. Has everybody forgotten that?
scott

Back up plan should be a casino. Actually the casino should be the first plan. Also, they should have a back up location: Arden Hills. Or if they like, make it the first location.

Bart

Plan A should be that Piggy Wilf pays for it himself.

There should be no Plan B.

Sean

Anyone who votes for this bill should have their savings, investments, retirement packages, houses and vehicles put up as collateral.

If it’s a good bill, there should be no objection to this.
waste of money

The Vikings have worn out their welcome in Minnesota. It’s time for them to go suckle another state; we can’t afford them anymore.

The Vikings are just costly losers. Go away and take Dayton, Mondale, Rybak, Bennett, Ortega, Johnson, and Zippy with you.

jackactionhero

So Minnesota doesn’t deserve an NFL presence at all?

You haven’t given any reason why.

How come other states are tripping over themselves to get and keep professional sports franchises, but for some reason Minnesota can’t afford it?

Homer

You want them to stay?

Write a check.

Money talks, you can walk.

jackactionhero

Answer my question first please and I’ll happily answer yours.

Stanley Peterson

Now we know about being “fleeced” . Mark Dayton will now have a stadium named after him!!! The Vikings can go to Dayton, Ohio for that? Ufta!
mleey

The rich people don’t event want to invest in the middle class. They rather put their money elsewhere than spending their money on the middle class. Do people like Mitt Romney want to spend half of his million of dollars creating jobs for the middle class? He rather puts his money elsewhere. So, why do some stupid middle class people want to invest in rich people to get richer when the rich don’t even want to invest in the middle clas? We should do the same thing as the rich–invest in something where we can get the most in return. Stadiums are such bad investments that no rich person wants to invest in them other than those who will benefit the most from these things. No one in the world cares about having a billion dollars stadium; only brainless Americans who rather spend thousands of dollars making the rich getting richer than make themselves get richer.
jerry

jerry just a retired janitor It;s kind of simple Have the players Pay there the ones making all the big bucks
jacob

Let’s get a deal done and move on. Does anyone really regret building the Twins a new stadium? As a Minnesota I take pride in hosting world class events here.

The NFL has pretty much guaranteed we will get to host a superbowl if we build a stadium. That alone will bring hundreds of millions into MN economy. Plus the hundreds of millions Wilf himself will be sticking into the project and our economy.

Jennifer

Anyone who is not a complete fool regrets the Twins Stadium

There are no economic benefits to taxpayer subsidized stadiums. Anyone who tells you different is lying.

Google this: Publicly financed stadiums

Or use these links:

-http://www.cato.org/pub_display.php?pub_id=2830
-http://www.economics-papers.com/?p=32784
-http://www.cbssports.com/mlb/story/7204546
-http://www.amazon.com/Major-League-Losers-Sports-Paying/dp/0465071430
-http://www.amazon.com/Bad-Sports-Owners-Ruining-Games/dp/B004R96U6I/

Vince

These links have worn out their welcome on these boards. They have nothing, NOTHING to do with the situation here in MN. One link about a staduim in China!? Another that just links to an abstract? My favorites, of course, are the two links that point to books you can buy at Amazon. The existence of these articles/books prove nothing. We live in a different economic area and are talking about a completely different sport than what is referenced here. Oh and one of the articles discusses items and events from over 10 years ago. These links are POINTLESS.

Anyone that tells you different is lying.

James

Having the same lie repeated over and over requires the truth be pointed out over and over.

Yes it is tedious. Maybe you should tell Jacob to stop it.

By the way, perhaps you would like to discuss how ALL the studies point out that stadiums are a NET LOSS on the economy and jobs are LOST.

Let’s stay focused on the pros and cons of publicly financed stadiums. The cons FAR outweigh the pros.

PoliticiansSUX

Please tell your Mayor to quit trying to force us to once again pay for the Target Center (for the third time) and to stick to the one issue at hand. It is after all the Mayor of Murderapolis that is forcing the Vikings Stadium to be built in Murderapolis, Jacking up the price to refurbish the Target Center, and then forcing an inferior product with a fixed roof. Talk to your Mayor and quit tossing out insults to the supporters. Without yoir mayor, this thing would be DOA.
StanleyPeterson

Money to the right of us? Money the left of us? Put on a great big smile? But, were still “Broke”………Ufta!

Jason

The Majority of the people do not want it, many believe it is a net loss of tax money, then from there we can get into the morality of this, schools, healthcare police, fire , roads and bridges what about our obligations to these? Should we be paying for something that would benefit the 1% when they can pay for this on thier own? Despicable.

StanleyPeterson

What can one do, if we are broke? Then having all these pansies for our elected officials?……….Mark Dayton Viking Stadium?…Ufta!

PoliticiansSUX

Again you all seem to fail to realize this is about priorities. Apparently yours are not the same as mine and mine are out of line with everyone else’s. What exactly is a fair amount of funding for Schools, fire, police, infrastructure, …. ? What was all of the money that was made off of the dome spent on over the past 30 years? Ted Mondale widely publicizes that the dome made 250 million over it’s life span (to date), so where did all that money go? What about all those interpretive centers being built out in the boon docks, why are we spending money on those? Again, it is about priorities. The democrats ran this state for 32 years straight, writing all the bills including social programs, the “new deal” for education in the 70′s, and all the deferred maintenance on infrastructure. So why is it that now that the republicans are in power, everything is wrong? The democrats had 32 years to run things and people decided they wanted to go another direction (new priorities). So why is it that these new priorities decided quite loudly in 2008 with a sweep of almost all offices are so wrong? I mean really the democrats had 32 years to address all these issues and keep power and apparently they did not do a good enough job, so they were swept from office. Are the republican priorities so bad that they warrant the personal attacks and insults blasted out in the comments here? Are the republicans absolutely positively wrong no matter what they propose?
Gary Lee

On an issue as devisive as this the legislature should put the question to a statewide ballot. I know that is expensive, and that the side which invests the most money in TV ads will probably win anyway, but at least it will be a way to give individual citizens an opportunity to weigh in on this specific question. That should be a standard for anything this expensive which will be subsidizing a private for profit company with tax dollars.
Piggy Wilf

Give me your money.
I’m not kidding.
Give it.
To me.
Now.

Give me your money….now.
toad

Lets see here minnesota,adrain peterson signed a 7 year 100 million year contract,and the annual salaries the vikings are paying the whole roster is 98 million a year.And minnesota is losing jobs and company’s are downsizing and wages are been freezed or reduced,and now my tax dollars will help millionairs play in a brand new stadium.Hey,look at the bright side,i get to get drunk every sunday during the fall time and hollar at the t.v.like a good ol american.
http://vikingsterritory.com/2012/analysis/links-of-the-week-free-agency-starts-soon Links Of The Week: Free Agency Starts Soon | Vikings Territory

[...] I think some hack blogger has mentioned this before, but gambling is an unpredictable revenue source for a new stadium and could be a sticking point in the proposal. [...]