Memorabilia tax could help finance new Vikings stadium

Posted April 23, 2011 @ 2:51 p.m.
Posted By PFW staff

According to a report by the Minneapolis Star Tribune, a 10 percent tax on wholesale sales of sports memorabilia would provide most of the state funding share toward a new stadium for the Vikings.

The tax would include any memorabilia items sold in the state of Minnesota that are licensed by any pro sports team or league, not just the Vikings or the NFL.

The bill was introduced two weeks ago at the Minnesota State Legislature. The state's Revenue Department projects that of the $29.5 million the state would contribute in 2015, $17.6 million would come from the memorabilia tax.

If a new stadium were to be built in Minnesota, it would have a three-pronged financing structure, with one-third of the cost each coming from the state, the team and a local government partner yet to be identified. The cost of a new stadium is estimated at between $700 million and $900 million.