Lester Bagley, the Vikings executive vice president in charge of public affairs and stadium development, reports that while construction costs for the new stadium have gone up, overall, the team believes that it started building at a good time.
The stadium was originally budgeted to cost $975 million with $498 million coming from the public. While the public contribution has stayed the same, the total cost to date has gone up to $1.027 billion, with the Wilf family paying the extra $52 million.
The Vikings recently had to contribute $2.4 million because of rising material costs, and the word is that if they want the first-class stadium that they set out to build, they could have to add $22 million more before its 2016 opening.
Even so, owners Zygi, Mark and Leonard Wilf haven't backtracked on their promise to build the best stadium in the NFL, and they have written the checks without a whimper. Still, Bagley says that overall, the team has done well with construction costs.
"We were fortunate," he said. "I think there's some challenges in the market right now on cement and other materials, but we got in at the right time. We purchased our materials a year or so ago — enough time to get them locked down and secured. Now I think there's some challenges with concrete that is driving some prices up in the market. I think there's a lot of construction going on. There are cranes all over downtown, maybe the most that have ever been in the construction boom that's going on in downtown right now and St. Paul."
Bagley added that the Vikings should have no problem filling seats for the new stadium after playing at the smaller TCF Bank Stadium for two years.
"The weather issue is gone," Bagley said. "There's no factor there. We have a stadium that is connected via skyway, so our fans can leave their jackets in the car, if they want, in the new stadium and take the Minneapolis skyway system into the new stadium.
"The space is the same number of seats as the Metrodome, but it's twice the size. There's a lot of places to hang out, lots of great fan spaces, gathering spaces, it's just going to be a great experience for fans. They're going to show up for the spectacle, for the experience, and for the stadium as well as the team."