The Star Tribune is reporting that the Metropolitan Sports Facilities Authority is moving forward with plans for the new $975 million football stadium.
The authority said after a nearly two-hour executive session Wednesday morning, it has determined that the Vikings owners have the financial capability to hold up their end of the bargain. FOX 9 has the board’s full statement.
Authority Chair Michele Kelm-Helgen told the newspaper that the review should be finalized next week. MinnPost says the news is a good indication that construction on the venue will begin in early November as planned.
A due diligence review of Zygi, Mark and Leonard Wilf’s finances resumed last week. The probe was launched after a New Jersey judge ruled earlier this month that the Wilf’s were guilty of fraud and racketeering in an unrelated, 21-year-old real estate deal.
The judge will decide later this month how much the Wilf’s will have to pay in damages.
A hearing has been scheduled for Monday so the family’s attorneys can request that the Wilf’s net worth and other financial records be kept from the public.
So, how much are the Wilf’s expected to fork over in the nearly $1 billion stadium deal?
Minnesota Public Radio has a good breakdown of where the team’s $477 million share would come from.
After league, fan, corporate and team dollars, the Wilf’s may only be on the hook for less than 1 percent of the project costs, MPR reported.
