The Minnesota Vikings have a name for their new state-of-the-art football stadium. The team announced Monday that their new home will be called U.S. Bank Stadium.
While financial terms of the 20-year agreement were not disclosed, sources tell Sports Business Daily it’s in the neighborhood of $220 million.
U.S. Bank is the fifth-largest banking association in the United States, the company says, with 3,172 banking offices in 25 states, and 5,016 ATMs.
In a statement released by the team, U.S. Bank chairman, president and CEO Richard Davis said:
“The Minnesota Vikings are a treasure for all citizens of Minnesota and our surrounding states to embrace, enjoy and enthusiastically support. As Minnesota’s hometown bank, U.S. Bank has been investing in the financial futures of individuals, families, small businesses and large enterprises for more than 150 years. Today, it is our privilege to make this new investment in the Vikings and the entire state of Minnesota.”
U.S. Bank has been rumored as a Vikings stadium name partner for months now. The Star Tribune’s Sid Hartman pegged the decision a year ago, even getting the price range correct.
KSTP and 1500 ESPN reporter Darren Wolfson tweeted recently to expect an announcement mid-June.
We're finally approaching the news conference for the new #Vikings stadium naming rights. Word is mid-June. Reported to be U.S. Bank.
— Darren Wolfson (@DWolfsonKSTP) June 3, 2015
The Vikings, the new stadium and U.S. Bank have been intertwined for awhile. The committee in charge of pitching Minnesota’s bid to host the Super Bowl in 2018 – which it won – was led by Davis.
And in September of last year, the bank said it agreed with the team’s decision to put Adrian Peterson on the exempt list, in the wake of his indictment on child abuse charges.
US Bank paying big bucks to put its name on Vikings stadium. Bank has 23% of Minnesota deposit $ vs Wells Fargo's 50%.
— Darren Rovell (@darrenrovell) June 15, 2015
The power of the NFL: Target has paid ~$1.5M per season for Target Center naming rights. US Bank paying $8.8M per season for Vikings
— Nick Halter (@nickhaltermpls) June 15, 2015
You can take a look at the current progress all around the new stadium via ZigsPics.com. The Vikings post construction updates and have a webcam here.
