Friday, March 2, 2012

Could It Be?

The Minnesota Vikings have taken the next big step in their frustrating quest for a new stadium. The Vikings, the sate of Minnesota and the city of Minneapolis have reached an agreement on the financing, location and maintenance of the stadium. The bill still has to be presented to the State Legislature and the Minneapolis City Council. The next step is a chore but so was this agreement. Could it actually happen? The stadium will be located just east of the existing Metrodome. The location will allow for the Vikings to continue playing in the current hunk of shit for at least two seasons while construction is taking place. The final construction stage will force the Vikings over to the University of Minnesota's TCF Bank Stadium for as little as a handful of games. If all proceeds smoothly the Minnesota Vikings will open their new stadium for the start of the 2016 season.

Some financing particulars:
Total Project Cost: 975 million
Minnesota Vikings share: 427
State of Minnesota: 398
City of Minneapolis: 150

Of the expected 20.5 million in annual operating costs the Vikings will cover 13. The city of Minneapolis will cover the rest.

Any purchase of this size causes pause. Mostly by those that care little for sports. Significant is that none of the public financing will involve new taxes or general fund revenues. The financing will involve electronic pull-tab gaming and redirect of existing convention center sales and hospitality taxes. It's been said that Minnesota Governor Mark Dayton and Minneapolis mayor RT Ryback wanted no part of an agreement that had little chance of getting through the legislature and the City Council. Still, this agreement has it's share of critics. The most frequent criticism is the view that the people of Minnesota are being asked to build a palace for and line the pockets of rich out of state Vikings owners, the Wilf family. Zygi and Mark Wilf likely will make a bunch of money. They have to in order to properly compete in the NFL. The city of Minneapolis and state of Minnesota will also make a bunch of money. From the stadium and from the income taxes of a bunch of wealthy football players. The Vikings, at best, will only use the stadium twelve days out of the year. The city and state will benefit far more often. High School football games, concerts, Major League Soccer, conventions, Super Bowls, NCAA Final Fours, etc. Indianapolis received much deserved rave reviews for their hosting of the recent Super Bowl. The close, hometown atmosphere of the city put on a show that likely exceeded the experiences of the previous 45 Super Bowls. Minneapolis could put on a similar small town, big city show. I attended the 2001 NCAA Final Four in Minneapolis. That Indianpolis Super Bowl show was the same type of feel that I found in Minneapolis. It also revealed the Metrodome as the hunk of shit it has always been reported to be. It was a hunk of shit when it opened in 1982. It's an old hunk of shit now. Minnesota and the Vikings deserve better. The people of Minnesota will benefit in all ways financial and personal in the construction of this stadium. Even the critics have to see that.

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