AEG Closely Watching Vikings' Stadium Negotiations

CBSsports.com
Josh Katzowitz

MINNESOTA - 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.