Inside the Vikings stadium deal
- March 3, 2012 - 7:19 PM
INSIDE THE DEAL
The details of last week's agreement on a Vikings stadium
THE BIG NEWS
After weeks of intensive closed-door negotiations, Gov. Mark Dayton announced a Vikings stadium deal on Thursday that must still face its biggest hurdles -- a skeptical Legislature and a reluctant Minneapolis City Council.
A $975 million stadium on the Metrodome site could open as early as the 2016 season, but only if Dayton and other backers can persuade legislators to vote for a $398 million state subsidy and get council members to agree to the diversion of $150 million in hospitality taxes without going to a referendum.
"This is an exciting day because the dream of keeping the Minnesota Vikings here for generations to come is close at hand," Vikings owner Zygi Wilf said.
The Legislature must pass a stadium bill. The NFL must sign off on the plan. State leaders say the deal also depends on approval by the Minneapolis City Council.
THE $975 MILLION STADIUM
There are additional costs for the city and the team, but here's how the upfront costs of the stadium break down:
$398 million from state, from charitable electronic pulltabs.
$150 million from Minneapolis, from existing Convention Center sales and hospitality taxes.
$427 million from the Vikings.
WHAT DOES $975 MILLION BUY?
$828 million for the fixed-roof stadium.
$147 million for infrastructure and relocation.
BEYOND THE INITIAL BILL
After the initial expense, operating costs and capital expenses will add to the total amount spent to build the stadium.
The city of Minneapolis agrees to pay an additional $188.7 million. Total city contribution: $338.7 million.
The Vikings agree to pay an additional $327.1 million. Total team contribution: $754.1 million.
Cover up: The stadium would have a fixed roof and an option to go retractable -- but at no cost to the state or city.
Think big: Seating for 65,000 but expandable to 72,000 for events like the Super Bowl. Also: 150 premium suites and 7,500 club seats.
The model: Indianapolis' Lucas Oil Stadium, host of this year's Super Bowl, is mentioned as an example of building and design standards.
Name that stadium: Vikings would get to sell naming rights and keep the money.
Hall of Fame: Yes, Purple People, the stadium would have space set aside for a Vikings Hall of Fame.
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