MINNEAPOLIS-Zygi Wilf, a New Jersey real estate developer who also happens to own the Minnesota Vikings football team, said it was a great day here Monday when Gov. Mark Dayton signed a $975 million new stadium bill into law. However, he also said it’s now time to go to work, “now we have to build it,” he said during the signing ceremony at the state capital.
“It’s a great day for all Minnesota, that all generations can keep on cheering for the Vikings,” said Wilf, as the bill guarantees the team will stay another 30 years. The fight started seven years ago when Wilf bought the team, and he maintains that the state of the 30-year-old Metrodome hurts profits. Now, the Metrodome will be razed, and a new 65,000-seat stadium likely opening for the 2016 football season (with a Superbowl hosting likely following).
Under the deal, Wilf will be responsible for $477 million of the cost, though the team will borrow almost half the money from the National Football League. The state will pay $348 million and the city will pay $150 million, what some state politicians thought was a high price to pay out of public coffers. The plan only cleared the state House by a 71-60 vote, and the Senate by a 38-28 vote. The team had threatened to move out after next season if a new stadium plan wasn’t found.
Wilf also said it’s possible that they may seek a professional soccer team, which will likely require a retractable roof on the stadium, though that feature would cost extra. He declined to discuss the attached retail and other possible commercial facilities, though he said he prefers open spaces for fans. The team is also expected to sell naming rights for the new stadium.
The Vikings now expect to play in the Metrodome through the 2014 season, and then play at TCF Bank Stadium at the University of Minnesota through the 2015 season. “Hopefully we only need one year at the university,” Wilf said at the signing. The team will reportedly pay the university $250,000 per game in rent, with another $50,000 expected in concessions and sponsorship revenue.
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