Put another $46.1 million on Zygi Wilf and the Minnesota Vikings’ bill for the new multipurpose stadium scheduled to open in 2016.
The Wilf family and the team announced the additional private contribution during a Friday Minnesota Sports Facility Authority (MSFA) board meeting. A breakdown of the private investment is available at NewMinnesotaStadium.com.
MSFA Chair Michele Kelm-Helgen said in a statement that the contribution allows them to keep a promise of building the “most iconic, world-class stadium in the country and perhaps the world.” She added that the commitment helped solve a budget gap that threatened to take away fan amenities from the original stadium design.
Budget gap required a choice: eliminate fan amenities or increase commitment. Team never wavered on stepping up to preserve stadium design.
— Jeff Anderson (@andersonj) August 22, 2014
Additional $ from Vikings directed into overall stadium budget & ensure crucial fan amenities such as 5 pivoting glass doors, elevators, etc
— Chris Tomasson (@christomasson) August 22, 2014
The team has now provided an additional $49 million since last November, including a $1.2 million contribution in April and a $1.3 million contribution in June.
Of the new money, $26.4 million comes from a contingency guarantee the team made in November. The remaining $19.7 million is a cash addition. The team’s total private contribution now stands at $525.6 million – nearly $50 million more than their original total of $477 million.
Vikings additional dollars dollars push the original team/private contribution of $477 million to nearly $526 million (51% of capital costs)
— Chris Tomasson (@christomasson) August 22, 2014
The stadium’s cost now stands at $1.024 billion, up from $975 million. Taxpayers will take on $498 million of the bill.
“It is critical that the original stadium design unveiled in 2013 is delivered to the public when the new stadium opens in 2016,” said Vikings Owner/President Mark Wilf said in a statement. “Our goal is to provide the best game day experience possible for our fans and for everyone in Minnesota who uses the stadium. We strongly believed eliminating significant items that contribute to that fan experience was not an option.”
Team is also now absorbing $23.2 million in relocation costs of playing at TCF Bank Stadium. Will direct those dollars to new stadium.
— Jeff Anderson (@andersonj) August 22, 2014
