*Eden Prairie, MN* (March 27, 2015) – As part of today's Minnesota Sports Facilities Authority's (MSFA) board meeting, the Minnesota Vikings and the Wilf family committed an additional $19.5 million toward the new stadium, bringing the team's total increased private contributions since stadium legislation passed to nearly $73.9 million.
The $19.5 million invested by the Vikings will go into the overall stadium budget and will be directed toward items like plaza enhancements, food service equipment, event level space build-outs for game day entertainment and staff, retractable seating upgrades, a Club Purple deck that overlooks downtown Minneapolis, among others. The additional contribution pushes the team/private commitment to nearly $551 million, or approximately 52% of the now $1.061 billion total project budget. The public contribution toward the project remains at $498 million.
"We appreciate the Vikings continued commitment to making this project successful," said MSFA Chair Michele Kelm-Helgen. "The increased private dollars give us the opportunity to maintain the iconic stadium design and ensure that the building can operate as a world-class facility."
"Our focus remains on providing a first-class experience to our fans," said Vikings Owner/President Mark Wilf. "When the process is over and we open this building in 2016, we want to say we did what we could to ensure the best game day experience possible."
TEAM/PRIVATE CONTRIBUTION BREAKDOWN (rounded numbers)
Original Stadium Legislation (May 10, 2012)............$477,000,000
Contingency Guarantee (November 22, 2013)..........$26,400,000 (now included in project)
Additional Cash Contribution (April 18, 2014)...........$1,200,000
Additional Cash Contribution (June 20, 2014)...........$1,300,000
Additional Cash Contribution (August 22, 2014)........$19,700,000
Additional Cash Contribution (October 10, 2014).......$518,000
Additional Cash Contribution (November 21, 2014)....$647,000
Additional Cash Contribution (December 19, 2014)....$1,200,000
Additional Cash Contribution (January 16, 2015).......$944,000
Additional Cash Contribution (February 13, 2015)......$2,300,000
Additional Cash Contribution (March 27, 2015)..........$19,500,000
Total Team/Private Contribution...............................$551,000,000 ($550,878,649.50 official)
* * Total does not include absorbed TCF Bank Stadium relocation costs of $23.2 million*
** In addition to the $525.6 million in upfront capital costs, the Vikings will also make annual commitments of $14.5 million, including $8.5 million in rent (the highest rent payment of any NFL facility), $1.5 million toward a capital improvement fund and $4.5 million for game day expenses. Both the rent and the capital improvement fund contributions will inflate at 3% per year. *