And the Minneapolis plan for a Minnesota Vikings stadium is in. The highlights:
- An $895 million domed football stadium on the site of the Metrodome (and, according to Reuters, “incorporat[ing] parts of the existing Metrodome”), plus a $95 million renovation of the nearby Target Center.
- The state of Minnesota would contribute one-third, or $300 million, as a bill in the legislature has already proposed.
- The city would kick in $195 million (22%), to be collected from a ticket tax, parking fees, restaurant and liquor taxes, a new 0.15% city sales tax, and the extension of taxes currently being used to pay off the city’s convention center.
- The Vikings would pay $400 million (40%) of the stadium cost.
Clearly this plan faces a ton of hurdles: The state bill has to be passed by the legislature before it goes home on Monday. The city money would need a voter referendum for approval. And did I mention that Vikings execs hate the idea?
Lester Bagley, a Vikings’ vice president, said the Vikings appreciated the proposal but that a $400 million contribution was too much. He also noted that playing in the University of Minnesota’s TCF Bank Stadium for three years while the new field was built would cost the Vikings $40 million in lost revenue.
“$440 million for the site does not work, and it’s not something we can support,” Bagley said. “Three parties need to negotiate a deal, and this does not accomplish that.”
Still, it’s got people talking about where to build a stadium, not whether to build one, and the Vikings owners have to be happy about that. If you’re in the Twin Cities and want to join the conversation, veteran MinnPost stadium reporter Jay Weiner is interviewing Minnesota stadium czar Ted Mondale next Monday night; tickets are $15. Hey, if 60 million people show up, maybe they can use the proceeds to build a stadium!