Blog Entry

Minnesota still trying to figure out stadium cost

Posted on: June 15, 2011 3:14 pm
Edited on: June 15, 2011 3:22 pm
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WilfPosted by Josh Katzowitz

With so much talk about AEG possibly targeting the Vikings franchise in order to move it to Los Angeles, you’d think the citizens of Minnesota would do just about whatever it took to keep the Vikings in town.

That might or might not be true when it comes to agreeing to a deal to build a new stadium.

“We're committed to getting this project done if at all possible," Gov. Mark Dayton told the Minneapolis Star Tribune. "Where there's a will, there's a way."

Yet, there are potential problems. Minnesota legislators want a plan by Friday, so they can formulate a bill, hold hearings and vote on it during a special session next month. But the executive and legislative branches of the government haven’t agreed on a state budget yet, and that is a bigger priority than funding a new stadium.

Basically, the state has said it would provide $300 million for a new stadium, Ramsey County would put $350 million into the pot by increasing sales tax by a half-cent and the Vikings would kick in $407 million. But that means funding for the stadium is still about $100 million short (that’s for the cost of road upgrades near the potential site).

So, what’s the plan to fix that hole?

The state says it won’t add any more money, and Vikings owner Zygi Wilf said the team already has made a substantial contribution. According to the paper, the Vikings and Ramsey County said they would seek state and local grants, as well as a cash advance from a Ramsey County bond or a state loan. The bond or loan then would be paid back from fees and surcharges that the new stadium generates.

But Dayton said any state grants would count against the $300 million cap. Other than that, though, he said, “I don't rule anything out. ... If we can get a federal grant, great."

And if all this fails? Well, the Vikings probably won’t go back to the Metrodome. Which means the franchise might be ripe for a move to L.A.

AEG is watching.

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Category: NFL
Comments

Since: Dec 2, 2011
Posted on: January 8, 2012 9:54 am
 

Minnesota still trying to figure out stadium cost

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Since: Dec 2, 2011
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Since: Jun 27, 2008
Posted on: June 16, 2011 8:15 am
 

Minnesota still trying to figure out stadium cost

Honestly, Packers, Lions, and Bears fans should all be rooting for the city of Minneapolis.  These four teams have a very strong rivalry.  The Vikings-Packers rivalry is amongst the best in the NFL.  A lot of that rivalry has to do with geography.  Culturally speaking, Minnesota and Wisconsin have many similarities.  They share borders, and their lives often cross paths (Especially with the Twin Cities so close to the Wisconsin border.)  The Vikings move to LA, that rivaly is severely weakened.

The Vikings moving to Los Angeles is all together a very bad thing for the NFL.  (By the way, it does worry one that if the lockout doesn't end, it would suck if the last season of the Minnesota Vikings, was that last season of Brett Favre.) As much as I dislike the Packers and Bears, I would never wish for them to leave their respective cities.  Not to mention, I don't think the Bears, Packers, or Lions should be too in love with having to play at least one game in LA every season.



Since: Mar 15, 2008
Posted on: June 16, 2011 7:07 am
 

Minnesota still trying to figure out stadium cost

Such a shame they can't get the deal done. But look up Viking fans. Should your team become "LA Vikings" you've always got the best run sports franchise (as crowned by ESPN) right next door to cheer for! And they happen to be winners too! And of course I'm talking about the Super Bowl champion Green Bay Packers. You'd need to lose the "goldilocks" and horns, but cheeseheads are a much better fashion statement. Think about it- winning tam, best run sports franchise, loyal fans, AND a great stadium to play in. It would be a win-win situation!


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