29_35x90 knx_35x90

Sports

Report: Vikings Owner To Add $30 Million For New Vikings Stadium

View Comments
Nick Laham/ Getty Images

Nick Laham/ Getty Images

Sports Fan Insider

Keep up with your favorite teams and athletes with daily updates.
Sign Up

CBSsports.com
by Josh Katzowitz

A few days ago, when asked how Minnesota was going to close a $100 million hole in trying to fund a new stadium, Vikings owner Zygi Wilf gave the impression that his organization and its offer to spend $407 million for the project had contributed enough.

The problem with that line of thinking is that the state absolutely will NOT spend more than $300 million, and a sales tax increase in Ramsey County only will provide so much money (about $350 million). Hence, the $100 million hole that would be used to shore up the roads around the site of the proposed stadium at Arden Hills.

While the Vikings and/or Ramsey County could seek bonds or loans that would close that gap, they still would have to be paid back by surcharges and fees generated by the new stadium (and paid for by fans anyway).

Which is why it’s good news for Minnesota fans who don’t want to see their team move to Los Angeles to hear that, according to the Minneapolis Star Tribune, Wilf agreed to add another $30 million to fund the project.

There’s another meeting scheduled for Thursday between Wilf, Minnesota Gov. Mark Dayton and other state and team officials. If there’s an agreement between everybody, the state legislature would have to convene a special session in order to pass the bill that would allow the new stadium to be funded and built.

View Comments
blog comments powered by Disqus