Vikings stadium lawsuit dismissed, bond sale back on track

The Minnesota Supreme Court abruptly dismissed the lawsuit against the Vikings stadium deal yesterday, so abruptly, in fact, that you can still view the headline for the story that the Pioneer Press pulled down for the “Lawsuit dismissed” version in its URL. (Looks like the now-disappeared story was “Vikings Stadium Deal Could Collapse Without Quick Ruling.” So much for that.)

With the suit dismissed, the state of Minnesota can now move ahead with selling $468 million worth of bonds to finance the public’s share of the project (the part that isn’t city operating subsidies, free land, and property tax breaks, anyway). The Minnesota Sports Facilities Authority will have to do some juggling to pay its bills the next couple of weeks until the bond sale goes through, but that shouldn’t be too big of a problem — especially not compared to the far bigger temporary shortfall the state will be facing in a couple of years.

4 comments on “Vikings stadium lawsuit dismissed, bond sale back on track

  1. The Vikings stadium deal could collapse regardless of what is happening. First, the MFSA could end up bankrupt sooner rather than later and even if they dodge a bullet there, the chance that the bond sale ends up becoming a total failure, is all a too great of risk. In the worst case scenario, TCF Bank could look at the bonds as a waste of time and that is knowing that the Vikings could end up becoming long term tenants of the Minnesota Golden Gophers. As a result, the only bonds that could end up being issued, are for expansion of TCF Bank Stadium in order to increase capacity and add gold seating.

    That is of course if Mortenson Construction doesn’t quit the job within the next few days and the MFSA is forced to find another construction to renovate the dome and get it ready in time for the Vikings 2014 season opener.

  2. Okay Jessy S., reality called, it wants you to come back. The day any of your scenarios happens is the day Elvis and Big Foot perform an autopsy on an alien in at what was the 50 yard line at the ruins of the Metrodome.

  3. The true reality is that the MFSA went to the Lucy Ricardo school of finance. It is either that or the entire state of Minnesota better use the electronic pull-tabs 24-7 or Target pays $500 million for naming rights.

  4. I hate public money’s association with the Vikings’ new stadium. However, I like the notion of Target’s name being on this ballpark. That way, Minnesota’s largest city would feature a trio of sports venues named after this company!!