Vikings new stadium just one vote away

Posted May 10, 2012 @ 9:21 a.m.
Posted By PFW staff

The Vikings are even closer to getting a new stadium in downtown Minneapolis.

The Minnesota state Senate must approve a new bill that would approve the funding for a $975 million stadium that would open in 2016. The state House of Representatives approved the plan early Thursday morning by a 71-60 vote.

The bill has changed a lot over the past few days, as funding totals from the state and team have varied as it has gone through the Minnesota legislature. Under the new agreement, the stadium would be built via $348 million from the state, $150 million from an existing Minneapolis hospitality tax, with the rest from the team and NFL. The team may opt to create personal seat licenses and sell stadium naming rights to recoup some of the money they’ll have to spend to have the closed-roof building constructed.

The Vikings, led by owner Zygi Wilf, agreed to spend $477 million on the stadium — $50 million more than the team had previously agreed to.

"The Vikings and the Wilfs have stepped up ... and made a huge commitment to Minnesota," said Lester Bagley, the team's vice president.

A final stadium vote in the Minnesota state Senate is expected to take place later Thursday. The Minneapolis city council would also have to vote again on the final plan, though they have already stated a support for the new stadium.