What is a Stadium Builder's License?
A Stadium Builder's License is a one-time fee that guarantees Season Ticket Owners (STO) will own their seats for a defined term as long as they continue to purchase season tickets. SBLs are used to help finance construction of new stadiums; programs have been used as a finance tool for half of all stadium projects throughout the NFL.
Where does the money from SBLs go?
All proceeds from SBL programs are directed toward construction costs of the new facilities.
Who will sell the SBLs?
The SBLs will be owned by the MSFA and the Vikings will serve as the agent for the MSFA in selling SBLs.
What are the benefits to fans of purchasing an SBL?
- Guarantee that a Season Ticket Owner will own his/her seats for a defined term as long as he/she continues to purchase season tickets
- Ability to hold, transfer or sell SBL as fan sees fit after first year
- Opportunity to purchase playoff tickets to home games
- Considerable savings compared with single-game prices
- Opportunity to purchase individual game tickets before the general public, and in some cases other event tickets
- Some SBL locations will also offer the right of first refusal to purchase tickets to other select events in the facility
How many NFL stadiums have used SBLs?
Prior to this project, sixteen stadiums that serve as the homes for 17 NFL teams have used SBL programs as a project finance tool. Most recently, new stadiums for the Cowboys, 49ers, Jets and Giants were significantly funded by SBL programs more than 3-4 times higher than the program being discussed in this market.
What prices are being considered for SBLs?
This is only the initial step in developing and introducing a Stadium Builder’s License program, which will be authorized by the MSFA. Final decisions have not been made on depth of prices or products, but fans can expect the following with the program:
- 25% of stadium capacity, including approximately 12,000 stadium seats, will not include an SBL
- Various pricing zones will be established.
- More than 10,000 seats with an SBL will be priced at $1,000 or less
- Expected average SBL price will be $2,500
- Approximately 80% of seats with SBLs will be priced at $3,000 or less
- Maximum price for an individual SBL will be no higher than $10,000
Will there be financing options for SBLs?
The program will include at least two financing options to make easier, interest-free payments:
1) An equal installment payment plan, with a down-payment at signing, interest-free prior to the stadium's completion.
2) A finance plan over multiple years, with a down-payment at signing, interest-free prior to the stadium's completion, which would be available for five years.
Will fans be able to sell these SBLs?
The SBL will belong to the fan who purchases it to hold it, transfer it, sell it how they see fit after the first year.
How does this program compare to other markets?
This program is 3-4 times lower than the four most recent programs and is very much in line with programs developed in markets similar to Minneapolis-St. Paul. In 2003 the Chicago Bears and Green Bay Packers developed SBL programs to finance stadium projects that in today's dollars would be in line with the parameters set forth by the MSFA.
The most recent programs include:
- San Francisco 49ers/City of Santa Clara – approximately $500 million
- Dallas Cowboys - $550 million
- New York Giants - $400 million
- New York Jets - $325 million
For a complete comparison chart, please click here.
How did the MSFA land on a program of $125 million?
Extensive research with Season Ticket Owners, previous single-game ticket buyers, premium seat holders, team sponsors and the general population showed that an SBL program is very viable in Minnesota; in fact, the research showed the market can bear a program of $200 million or higher. Despite that number, however, together with the MSFA we developed parameters for a maximum gross program of $125 million, which we believe is a reasonable program that fits our fan base.
If I don't continue buying season tickets, will the SBL revert back to the MSFA?
The SBL will belong to the fan that purchases it - to hold it, transfer it or sell it how they see fit after the first year. If the SBL owner defaults or drops the license for some reason, the license will revert back to the MSFA.
When will the team and the MSFA expect to make final decisions on products and pricing?
The sales process will likely begin after the 2013 NFL season.
As a Season Ticket Owner, will I have priority on picking my seat?
Yes, the Vikings goal is to develop a fair system based on Season Ticket Owners' current status and tenure (seniority) that ensures STOs will have priority for seats at the new stadium. The details on this system have yet to be worked through but current STOs at Mall of America Field who maintain their active account status during the Vikings seasons at TCF Bank Stadium will receive seat selection priority over new fans on a waiting list for TCF Bank Stadium or the new stadium.
What is my seat selection priority?
Current Vikings Season Ticket Owners at Mall of America Field who maintain their active account status during the Vikings seasons at TCF Bank Stadium will receive seat selection priority over new fans on a waiting list for TCF Bank Stadium or the new stadium. Fans on the waitlist will have the opportunity to select seats after all current Season Ticket Owners have had a chance to review their options.
Will I be able to purchase a similar seat to my current seat at Mall of America Field?
The Vikings will make strong efforts to ensure each current Mall of America Field STO who maintains his/her active account status during the Vikings seasons at TCF Bank Stadium is offered an opportunity to purchase seats in a comparable location in the new stadium.
Is there a waitlist for the new stadium for non-Season Ticket Owners?
Yes, fans who are interested in receiving the latest updates throughout construction and/or would like specific information on certain seating types or want to join our Waiting List, can click here.