Our old pal Tom Goldstein (former publisher of the late, great Elysian Fields Quarterly) has a long article in this week’s Minneapolis City Pages outlining all the ways in which the Vikings stadium plan is godawful. Among them:
- The Vikings haven’t explained why they need a billion-dollar roofed stadium when teams like the New England Patriots ($340 million) and Pittsburgh Steelers ($281 million) have thrived with cheaper buildings. And the Pats’ Gillette Stadium was mostly privately funded, something the Vikings could do as well if they just cut their price tag.
- While the city and state would be expected to put in $600 to $650 million toward a stadium with no certain payoff, the Vikings’ entire $400 million share would be supplied by new stadium revenues: personal seat licenses, naming rights, parking revenue (though this appears to refer specifically to the now-defunct Arden Hills plan), and an NFL G-4 loan.
- As a job creator, the stadium would be a dud, as “each full-time equivalent job would cost a staggering $475,000 to create — five times the much-criticized $93,000 per job cost of President Obama’s stimulus plan.”
- There’s no reason to worry that the team will move to Los Angeles without a new stadium, as any revenue offered by AEG would pale in comparison to what the Vikings owners would have to give up in such a deal.