A price tag of $975 million won’t be enough to cover building the new Vikings stadium the way the team wants it. The team and the Minnesota Sports Facilities Authority may have to cut back some desired perks to stay within budget.
Twenty-two financial institutions have applied to help underwrite the $498 million taxpayer share of the new Minnesota Vikings stadium. Minnesota Management and Budget released the list Thursday.
Electronic betting games introduced a year ago to help pay for construction of the new Minnesota Vikings stadium did not end up raising a single cent for the project, but some charities that operate them have benefited anyway.
Minnesota Gov. Mark Dayton says Vikings owners Zygi and Mark Wilf should have to cover much of the team’s share of stadium construction from their own pockets, not through profit from expensive personal seat licenses.
The board overseeing the new Minnesota Vikings stadium says a financial review has cleared up questions about the team owners’ ability to pay their share. The Minnesota Sports Facilities Authority’s report was launched after a New Jersey judge came down on the Wilf family.
Even before ground is broken on a new Minnesota Vikings stadium, a white-collar brigade of accountants, architects, lawyers and other consultants has locked in millions of dollars in contracts that would complicate any effort to derail the project.
People are already talking about the economic impact of the new Vikings stadium, as a $400 million development is in the works to tie the east end of downtown in with the new stadium. The project will include two office towers big enough for 6,000 workers.
The head of the authority overseeing construction of a new Minnesota Vikings stadium says she expects any fees for personal seat licenses would be in line with those charged for other new stadiums recently built in the state.
But behind the scenes, 2016 is the date on many Vikings’ fan calendars. That’s the projected opening of the new stadium in Minneapolis.
The St. Paul Saints are another step closer to getting a new ballpark. The city’s Port Authority signed a $1.85 million agreement on Tuesday for an empty warehouse in the Lowertown area.
The Metrodome always felt like a rental property for Zygi and Mark Wilf, two New Jersey real estate developers who purchased the Minnesota Vikings in 2005 with the hopes of moving out of the place as quickly as possible.
Gov. Mark Dayton pronounced the monthslong state push to help build a new Minnesota Vikings stadium a “fiasco” on Wednesday, as the Legislature’s Republican leaders proposed a significantly smaller state contribution to the project.
Siebert Field has been symbolic before the Metrodome became the Gophers temporary home. As they tear it down to build it back up, the memories come flooding back.
The Minnesota Vikings stadium stampede is driving ahead, but some lawmakers are trying to slow its progress. The team’s bid for a nearly $1 billion stadium is nearing decisive action in the state Legislature.
The final week of the legislative session is starting off with a double dose of Vikings stadium hearings. That plan has lurched back to life and it’s moving closer to votes by the full House and Senate.