Vikings, U of Minn. Reach Stadium Agreement
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MINNEAPOLIS (WCCO/AP) — The University of Minnesota and the Minnesota Vikings have reached agreement on the Vikings’ use of TCF Bank Stadium for two seasons.
The Vikings would play outdoors on the university’s Minneapolis campus in 2014 and 2015 while the NFL team’s new stadium is built on the site of the Metrodome.
The deal requires approval from the university’s Board of Regents. The agreement goes before the regents’ Facilities and Operations Committee Thursday, with the full board scheduled to act Friday.
A letter of intent last May set a tentative deal for the Vikings to pay the school $3 million a season for up to four seasons, plus revenue sharing.
The Vikings released terms of the agreement Thursday afternoon. It states the Vikings will reimburse the university for any necessary stadium improvements and all game-day operational expenses. The Vikings will pay the university $250,000 per home game during the 2014 and 2015 seasons for use of the stadium. The team will also share $50,000 per game in revenue from concessions, advertising and sponsorship.
The Vikings will end up paying about $300,00 for each home game played at TCF Bank Stadium, amounting to about $3 million per season.
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