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San Francisco is a larger media market than the Twin Cities, so the figures here would likely be smaller. But the proceeds here, along with seat licenses, might still be enough so that not only can the Wilfs and their wealthy partners meet all of their financial obligations, there’s a chance I could have.
So of course this due diligence effort really wasn’t about finances at all. The authority could have managed any financial risk without a showy investigation.
What we just saw was political, and even as politics the due diligence project seems to be of limited value.
Opponents of public financing for a football stadium will not be convinced of a single thing. And while Kelm-Helgen explained that due diligence had already occurred and more was planned, hustling to check out the Wilfs now, only after learning of the outcome of a case in New Jersey, gives the public the impression that no one thought to do any real spadework before.
The team and its owners had no choice but to cooperate, but it will be interesting to see what happens with the bill the Vikings will get for the extra diligence work.
It would not be the least bit surprising to find out that it takes a good long while for that bill to be paid. And not because the owners don’t have the money.
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