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Vikings Sale Renews Stadium Question

EDEN PRAIRIE, MN-Frustration in not winning public financing for a new stadium was a factor in the sale by Red McCombs. The purchase price is reported to be $625 million.

By Jim McCartney | Updated on February 14, 2005

EDEN PRAIRIE, MN-Now that Arizona businessman Reggie Fowler has agreed to buy the Minnesota Vikings, a top issue now will be to figure out a way to build a new football stadium. The inability to convince local and state public officials to help pay for a new stadium has been a source of frustration for owner Red McCombs and one of the reasons he began trying to sell the team nearly three years ago.

The deal, if approved, would make Fowler the National Football League’s first African-American owner. McCombs bought the team for $246 million in 1998. Although Fowler declined Monday to say how much he has agreed to pay for the team, the offer is widely reported to be about $625 million. Timberwolves owner Glen Taylor, a billionaire businessman based in Mankato, had offered about $600 million, though some of that money was contingent on a new stadium being built.

At the press conference, Fowler tried to focus attention on his new ownership. “I’m excited to have the opportunity to purchase the Minnesota Vikings,” says Fowler, founder and owner of Spiral Inc., a Chandler, AZ-based grocery store supplies company that also has interests in such areas as real estate, aviation, manufacturing, agriculture, entertainment and banking.

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