Page 2 of 2 Previous

Continued: Wilfs will be able to finance their share of stadium, report finds

  • Article by: RICHARD MERYHEW , Star Tribune
  • Last update: September 13, 2013 - 10:41 PM

Dayton, who within days of the New Jersey ruling pushed the authority to do everything it could to get an “absolute, airtight guarantee” that the Wilfs had the financial wherewithal to meet their obligations, had no reaction Friday to the report. A spokesman, Matt Swenson, said the governor wanted to fully review it over the weekend before responding.

‘1000s of documents’

Carter said Friday that the due-diligence probe involved “15 to 20 professionals” who worked “around the clock” and “reviewed thousands of documents” involving the Wilfs.

Auditors and attorneys scrutinized the Wilfs’ personal financial records, the NFL’s background investigation of the team owners, “all civil litigation” involving the Wilf family and the underwriting files from the family’s primary lender — U.S. Bank.

Tax returns, property records and other documents were checked, too, along with all the transcripts and files of the New Jersey civil case.

“All the background checks came back absolutely clean,” Carter said, adding that other than the New Jersey case, “there were no other lawsuits that would have a material effect on the Wilfs’ ability to meet their obligations” on the stadium project.

The report indicated that the Wilfs “will likely” appeal Wilson’s ruling, potentially delaying by months, if not longer, any referral of the case to the attorney general or county prosecutors.

The stadium financing legislation approved in May 2012 required the authority to make sure all private funding sources for the project are “adequate to design, construct, furnish and equip the stadium.”

It also dictated that “any financial information” it obtained related to the team or its owners remain confidential. Financial details of the audit were not released.

Before stadium groundbreaking takes place, the Vikings and the authority must complete negotiations on use and development agreements, which will dictate terms of the team’s lease to how revenue is split and how much season-ticket holders pay for seat licenses.

The Vikings walked away from those talks several weeks ago after Kelm-Helgen said that the authority planned to bill the team and the Wilfs for the additional due-diligence work. That, in turn, prompted Kelm-Helgen to express concerns that construction could be delayed by a month or more.

The Vikings returned to negotiations earlier this week as the review wrapped up.

Kelm-Helgen said she hopes the authority can vote on the agreements at its Sept. 27 meeting, in time for the team to close out its financing by November, just before construction begins.

Meanwhile, she said the team still has not agreed to pay for the additional legal and financial scrutiny into the team’s owners.

Staff writer Jim Ragsdale contributed to this report.

Richard Meryhew • 612-673-4425



 

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

NY Yankees - LP: M. Pineda 0 FINAL
Toronto - WP: D. Hutchison 2
Detroit - LP: M. Scherzer 3 FINAL
Chicago WSox - WP: C. Sale 6
Chicago Cubs - WP: F. Doubront 5 FINAL
St. Louis - LP: J. Masterson 1
Cincinnati - LP: A. Simon 2 FINAL
Pittsburgh - WP: V. Worley 3
Minnesota - LP: J. Burton 2 FINAL
Baltimore - WP: A. Miller 3
Philadelphia - WP: J. Williams 7 FINAL
NY Mets - LP: B. Colon 2
Miami - WP: J. Cosart 4 FINAL
Atlanta - LP: A. Harang 0
Boston - LP: A. Webster 0 FINAL
Tampa Bay - WP: J. Odorizzi 7
Cleveland - WP: J. Tomlin 3 FINAL
Kansas City - LP: S. Downs 2
Detroit - WP: K. Ryan 8 FINAL
Chicago WSox - LP: C. Bassitt 4
Texas - LP: P. Klein 0 FINAL
Houston - WP: S. Feldman 2
Colorado - WP: T. Matzek 2 FINAL
Arizona - LP: V. Nuno 0
Chicago Cubs - LP: T. Wada 2 FINAL
St. Louis - WP: M. Gonzales 13
Los Angeles - LP: J. Wright 1 FINAL
San Diego - WP: T. Stauffer 2
Milwaukee - LP: M. Fiers 1 FINAL
San Francisco - WP: J. Peavy 3
Oakland - LP: J. Samardzija 0 FINAL
LA Angels - WP: Y. Herrera 2
Washington - WP: S. Strasburg 3 FINAL
Seattle - LP: R. Elias 1
Green Bay 9/4/14 7:30 PM
Seattle
BYU 35 FINAL
Connecticut 10
(6) Jacksonville St 7 FINAL
(8) Michigan State 45
Bowling Green 31 FINAL
Western Ky 59
TX-San Antonio 27 FINAL
Houston 7
Colorado State 31 FINAL
Colorado 17
UNLV 13 FINAL
Arizona 58
Penn State 26 FINAL
UCF 24
Troy 10 FINAL
UAB 48
(7) UCLA 28 FINAL
Virginia 20
Western Mich 34 FINAL
Purdue 43
(5) Ohio State 34 FINAL
Navy 17
Appalachian St 14 FINAL
Michigan 52
Ga Southern 23 FINAL
NC State 24
Boston College 30 FINAL
Massachusetts 7
West Virginia 23 FINAL
(2) Alabama 33
Rice 17 FINAL
(17) Notre Dame 48
(10) South Dakota St 18 FINAL
(24) Missouri 38
Fla Atlantic 7 FINAL
(22) Nebraska 55
California 31 FINAL
Northwestern 24
Marshall 42 FINAL
Miami-Ohio 27
UC Davis 0 FINAL
(11) Stanford 45
Arkansas 21 FINAL
(6) Auburn 45
(16) Clemson 21 FINAL
(12) Georgia 45
Liberty 29 FINAL
(23) North Carolina 56
Ohio U 17 FINAL
Kent State 14
Louisiana Tech 16 FINAL
(4) Oklahoma 48
Stephen F Austin 16 FINAL
(20) Kansas State 55
Fresno State 13 FINAL
(15) USC 52
Southern Miss 0 FINAL
Miss State 49
Texas-El Paso 31 FINAL
New Mexico 24
North Texas 7 FINAL
Texas 38
(1) Florida State 37 FINAL
Oklahoma State 31
(14) Wisconsin 24 FINAL
(13) LSU 28
Idaho 0 Postponed
Florida 0
South Dakota 13 FINAL
(3) Oregon 62
(25) Washington 17 FINAL
Hawaii 16
Utah State 6:00 PM
Tennessee
SMU 6:30 PM
(10) Baylor
Miami-Florida 9/1/14 7:00 PM
Louisville
Arizona 9/4/14 7:00 PM
TX-San Antonio
Pittsburgh 9/5/14 6:00 PM
Boston College
Washington St 9/5/14 9:30 PM
Nevada
SMU 9/6/14 11:00 AM
North Texas
Fla Atlantic 9/6/14 11:00 AM
(2) Alabama
Buffalo 9/6/14 11:00 AM
Army
(24) Missouri 9/6/14 11:00 AM
Toledo
Arkansas State 9/6/14 11:00 AM
Tennessee
(8) McNeese State 9/6/14 11:00 AM
(22) Nebraska
Central Mich 9/6/14 11:00 AM
Purdue
Akron 9/6/14 11:00 AM
Penn State
Western Ill 9/6/14 11:00 AM
(14) Wisconsin
(20) Kansas State 9/6/14 11:00 AM
Iowa State
(4) Oklahoma 9/6/14 11:00 AM
Tulsa
Western Ky 9/6/14 11:00 AM
Illinois
SC State 9/6/14 11:30 AM
(16) Clemson
Navy 9/6/14 12:00 PM
Temple
UAB 9/6/14 1:00 PM
Miss State
South Alabama 9/6/14 1:00 PM
Kent State
New Mexico St 9/6/14 1:00 PM
Georgia State
Colorado 9/6/14 2:00 PM
Massachusetts
Fresno State 9/6/14 2:00 PM
Utah
(1) Eastern Wash 9/6/14 2:00 PM
(25) Washington
(15) USC 9/6/14 2:30 PM
(11) Stanford
Ohio U 9/6/14 2:30 PM
Kentucky
Middle Tennessee 9/6/14 2:30 PM
Minnesota
Northern Ill 9/6/14 2:30 PM
Northwestern
Missouri State 9/6/14 2:30 PM
Oklahoma State
Ball State 9/6/14 2:30 PM
Iowa
Maryland 9/6/14 2:30 PM
So Florida
Eastern Mich 9/6/14 3:00 PM
Florida
Georgia Tech 9/6/14 3:00 PM
Tulane
(18) Ole Miss 9/6/14 3:30 PM
Vanderbilt
Old Dominion 9/6/14 5:00 PM
NC State
(8) Michigan State 9/6/14 5:30 PM
(3) Oregon
(19) Arizona State 9/6/14 6:00 PM
New Mexico
Louisiana Tech 9/6/14 6:00 PM
Louisiana
San Jose St 9/6/14 6:00 PM
(6) Auburn
East Carolina 9/6/14 6:00 PM
(9) So Carolina
Duke 9/6/14 6:00 PM
Troy
Idaho 9/6/14 6:00 PM
ULM
(17) Sam Houston St 9/6/14 6:30 PM
(13) LSU
Michigan 9/6/14 6:30 PM
(17) Notre Dame
Lamar 9/6/14 6:30 PM
(21) Texas A&M
Northwestern St 9/6/14 6:30 PM
(10) Baylor
BYU 9/6/14 6:30 PM
Texas
Citadel 9/6/14 6:30 PM
(1) Florida State
San Diego St 9/6/14 7:00 PM
(23) North Carolina
Virginia Tech 9/6/14 7:00 PM
(5) Ohio State
Memphis 9/6/14 9:00 PM
(7) UCLA
Colorado State 9/6/14 9:15 PM
Boise State
Air Force 9/6/14 9:15 PM
Wyoming
Oregon State 9/6/14 9:30 PM
Hawaii
Texas Tech 9/6/14 10:00 PM
Texas-El Paso
Colorado 0 FINAL
Seattle 1
New England 3 FINAL
Toronto FC 0
Columbus 0 FINAL
Montreal 2
FC Dallas 0 FINAL
Chicago 1
Real Salt Lake 1 FINAL
San Jose 1
Portland 3 FINAL
Vancouver FC 0
Ottawa 10 FINAL
Montreal 20
Winnipeg 3:00 PM
Saskatchewan
Chicago 70 FINAL
Indiana 77
Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

Date/Opponent Time W L Score
2014 preseason     
Aug 8 - vs. Oakland 7 pmX10-6
Aug 16 - vs. Arizona 7:30 pmX30-28
Aug 23 - at Kansas City 7 pmX30-12
Aug 28 - at Tennessee 7 pmX19-3
2014 regular season     
Sep 7 - at St. Louis Noon
Sep 14 - vs. New England Noon
Sep 21 - at New Orleans Noon
Sep 28 - vs. Atlanta 3:25 pm
Oct 2 - at Green Bay 7:25 pm
Oct 12 - vs. Detroit Noon
Oct 19 - at. Buffalo Noon
Oct 26 - at Tampa Bay Noon
Nov 2 - vs. Washington Noon
Nov 9 - Bye
Nov 16 - at Chicago Noon
Nov. 23 - vs. Green Bay Noon
Nov. 30 - vs. Carolina Noon
Dec 7 - vs. NY Jets Noon
Dec 14 - at Detroit Noon
Dec 21 - at Miami Noon
Dec 28 - vs. Chicago Noon

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: How many fantasy football teams do you draft?

Weekly Question

ADVERTISEMENT

 
Close