Net worth of Wilfs soon could be revealed

  • Article by: COREY MITCHELL , Star Tribune
  • Updated: December 10, 2013 - 10:12 PM

In New Jersey, Vikings owners are expected to learn what they will have to pay former partners.

 

– Attorneys representing Zygi and Mark Wilf will argue in a New Jersey courtroom this week against their clients having to reveal their net worth and pay nearly $100 million in damages and legal fees to former New Jersey business partners.

In a hearing scheduled to begin Wednesday in Morristown, N.J., the Wilfs, who own the Minnesota Vikings, will learn the final figure they will have to pay Josef Halpern and Ada Reichmann, who sued the family for fraud over a 1980s real estate deal.

Superior Court Judge Deanne Wilson determined in September that brothers Zygi and Mark Wilf, along with their cousin Leonard Wilf, must pay $84.5 million to Halpern and Reichman. When Wilson issues her final judgment, she also will decide whether to accept a recommendation that the Wilfs pay another $15.1 million to cover the plaintiffs’ legal fees and other costs associated with the case.

Wilson also is set to reveal the Wilfs’ net worth, after a state appeals court earlier this week denied their request to keep the information sealed. The appeals court allowed the Wilfs to keep their net worth under wraps until a final judgment was rendered in the lawsuit.

In court filings, the Wilfs accused Wilson of harboring an “anti-wealth bias” and argued that making their net worth public could pose a threat to their families and negatively affect their business dealings.

Wilson said she used the Wilfs’ net worth to calculate damages in the real estate case and that the public has a right to know what she based the ruling on.

The Wilfs’ lead attorney, Sheppard Guryan, plans to ask Wilson to delay the release of the net worth, pending a full appeal of the case. The Star Tribune could not reach him for comment Tuesday.

The Wilfs have long fought to keep their wealth private, even as their finances came under heightened public scrutiny.

The National Football League, Minnesota Gov. Mark Dayton and the Minnesota Sports Facilities Authority closely monitored the case throughout negotiations on development agreements for the new $975 million Vikings stadium.

Officials feared the New Jersey case and subsequent civil penalties could hinder the Wilfs’ ability to cover their share of the stadium costs.

An independent audit conducted for the authority found that the Wilfs have enough money to pay their part, roughly $477 million of the stadium financing. Their contribution includes a $200 million NFL loan and revenue generated from naming rights, sponsorships and licensing fees.

The Wilfs hope to open the stadium in downtown Minneapolis in time for the start of the 2016 season. Groundbreaking took place last week.

 

Corey Mitchell is a correspondent in the Star Tribune Washington Bureau. Twitter: @C_C_Mitchell

  • related content

  • Minnesota Vikings owner Zygi and Mark Wilf stood on the field before S...

  • get related content delivered to your inbox

  • manage my email subscriptions

ADVERTISEMENT

Baltimore 2 FINAL
Detroit 15
NY Yankees 5 FINAL
Philadelphia 5
Northeastern 1 FINAL
Boston 2
Miami-Fla 1 FINAL
Miami 7
Pittsburgh 8 FINAL
Toronto 7
San Francisco 4 FINAL
Oakland 9
Cleveland 0 FINAL
Cincinnati 10
Boston College 0 FINAL
Boston 1
Arizona State 0 FINAL
Arizona 4
Boston 79 FINAL
Cleveland 110
LA Lakers 103 FINAL
Charlotte 104
Sacramento 124 FINAL
New York 86
Houston 96 FINAL
Atlanta 104
Utah 93 FINAL
Memphis 82
Washington 92 FINAL
Chicago 97
Milwaukee 95 FINAL
Denver 106
Nashville 1 FINAL
New Jersey 3
Calgary 3 FINAL(OT)
Philadelphia 2
Washington 5 FINAL
Columbus 3
Buffalo 0 FINAL
Tampa Bay 3
Toronto 3 FINAL
Florida 2
Ottawa 2 FINAL(SO)
Minnesota 3
NY Islanders 2 FINAL(OT)
Dallas 3
Anaheim 4 FINAL
Arizona 1
Los Angeles 5 FINAL
Edmonton 2
San Jose 6 FINAL
Vancouver 2
Ole Miss 82 FINAL
Alabama 74
Eastern Mich 67 FINAL
Ball State 60
Kent State 81 FINAL
Bowling Green 80
Ohio 66 FINAL
Buffalo 93
Georgetown 60 FINAL
Butler 54
Toledo 77 FINAL
Central Mich 85
Rhode Island 59 FINAL
Dayton 75
Youngstown St 67 FINAL
Detroit 77
North Carolina 81 FINAL
Georgia Tech 49
Loyola-Maryland 45 FINAL
Holy Cross 62
Iowa 77 FINAL
Indiana 63
Akron 63 FINAL
Miami-Ohio 70
Army 52 FINAL
Navy 56
Maryland 60 FINAL
Rutgers 50
Kennesaw St 54 FINAL
USC Upstate 90
Jacksonville 63 FINAL
Fla Gulf Coast 81
Lipscomb 76 FINAL
Northern Ky 73
Stetson 67 FINAL
North Florida 81
Wright State 57 FINAL
Ill-Chicago 60
Western Mich 63 FINAL
Northern Ill 65
Nebraska Omaha 80 FINAL
North Dakota 78
Houston Baptist 71 FINAL
Abilene Christian 83
NC State 66 FINAL
Clemson 61
Texas A&M 62 FINAL
Florida 66
Kentucky 72 FINAL
Georgia 64
West Virginia 69 FINAL
Kansas 76
Auburn 61 FINAL
Missouri 63
Michigan 78 FINAL
Northwestern 82
Villanova 76 FINAL
Creighton 72
Longwood 55 FINAL
Gardner-Webb 63
Charleston Southern 39 FINAL
Presbyterian 47
Coastal Carolina 54 FINAL
UNC-Asheville 68
NJIT 51 FINAL
UMass Lowell 60
West Virginia 55 FINAL
Kansas State 59
TCU 45 FINAL
Texas 79
Fresno State 61 FINAL
Air Force 41
San Jose St 76 FINAL
Boise State 91
Nevada 61 FINAL
Colorado State 68
UNLV 61 FINAL
San Diego State 76
Wyoming 61 FINAL
Utah State 57
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 NoonX34-6
Sep 14 - vs. New England NoonX30-7
Sep 21 - at New Orleans NoonX20-9
Sep 28 - vs. Atlanta 3:25 pmX41-28
Oct 2 - at Green Bay 7:25 pmX42-10
Oct 12 - vs. Detroit NoonX17-3
Oct 19 - at. Buffalo NoonX17-16
Oct 26 - at Tampa Bay NoonX19-13 ot
Nov 2 - vs. Washington NoonX29-26
Nov 9 - Bye
Nov 16 - at Chicago NoonX21-13
Nov. 23 - vs. Green Bay NoonX24-21
Nov. 30 - vs. Carolina NoonX31-13
Dec 7 - vs. NY Jets NoonX30-24 ot
Dec 14 - at Detroit 3:25 pmX16-14
Dec 21 - at Miami NoonX37-35
Dec 28 - vs. Chicago NoonX13-9

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

question of the day

Poll: With Adrian Peterson's suspension overturned, what should the Vikings do?

Weekly Question

ADVERTISEMENT

 
Close