*Eden Prairie, MN* (May 15, 2015) – As part of today's Minnesota Sports Facilities Authority's (MSFA) board meeting, the Minnesota Vikings and the Wilf family will commit an additional $14 million toward the new stadium, bringing the team's increased private contributions since stadium legislation passed to $89 million and the overall team/private commitment to $566 million.
Nearly $13 million of the total $14 million invested by the Vikings will be directed toward the stadium's television system, including the 2,000+ HDTV monitors that will be displayed throughout the building. Having previously covered design fees to increase the number of televisions from 800 to over 2,000, the team's contribution today will cover costs associated with the additional monitors and the backbone video control system. The remainder of the $14 million increase will go toward lighting and utility enhancements as well as exterior signage. The additional contribution pushes the team/private commitment to more than $566 million, or 53% of the now $1.076 billion total project budget. The public contribution toward the project remains at $498 million.
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
Additional Cash Contribution (April 27, 2015)............................... $1,200,000
Additional Cash Contribution (May 15, 2015)............................. $14,000,000
Total Team/Private Contribution.......................................... $566,000,000 ($566,212,870.71 official)
* Total does not include absorbed TCF Bank Stadium relocation costs of $23.2 million
* In addition to the $566 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.
