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Report: Wilf to add $30 million for new stadium

Posted on: June 20, 2011 1:01 pm
 
WilfPosted by Josh Katzowitz

A few days ago, when asked how Minnesota was going to close a $100 million hole in trying to fund a new stadium, Vikings owner Zygi Wilf gave the impression that his organization and its offer to spend $407 million for the project had contributed enough.

The problem with that line of thinking is that the state absolutely will NOT spend more than $300 million, and a sales tax increase in Ramsey County only will provide so much money (about $350 million). Hence, the $100 million hole that would be used to shore up the roads around the site of the proposed stadium at Arden Hills.

While the Vikings and/or Ramsey County could seek bonds or loans that would close that gap, they still would have to be paid back by surcharges and fees generated by the new stadium (and paid for by fans anyway).

Which is why it’s good news for Minnesota fans who don’t want to see their team move to Los Angeles to hear that, according to the Minneapolis Star Tribune, Wilf agreed to add another $30 million to fund the project.

There’s another meeting scheduled for Thursday between Wilf, Minnesota Gov. Mark Dayton and other state and team officials. If there’s an agreement between everybody, the state legislature would have to convene a special session in order to pass the bill that would allow the new stadium to be funded and built.

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Category: NFL
Comments

Since: Dec 2, 2011
Posted on: January 8, 2012 9:51 am
 

Report: Wilf to add $30 million for new stadium

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hgtrerte
Since: Dec 2, 2011
Posted on: December 3, 2011 2:18 am
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tomlye
Since: Nov 28, 2011
Posted on: November 30, 2011 9:34 pm
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Since: Jul 17, 2008
Posted on: July 14, 2011 6:19 pm
 

Report: Wilf to add $30 million for new stadium

This sounds like Wilf really wants to be i in Minnesota. At least he is giving. And he should. But the roads around the stadium should be funded by the taxpayers. They are the ones using it afterall. With the jobs and revenue coming with this new stadium it should be a win win situation. If anything raise the taxes 1% on the top 3% wealthiest in Minny. Why? Why not. They wont even notice it.


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