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Saturday, November 12, 2011

Vikings tap other sources for stadium pledge | StarTribune.com

Vikings tap other sources for stadium pledge | StarTribune.com

Read it and do the math. LOL.

This is insane. Basically, the State by allowing private ownership loses, at a minimum, $225 million.

Sigh ..

From the comments:

roundy1945
Nov. 12, 11
5:30 AM

I'm not sure I understand the importance of delineating where" the team's money comes from, said Lester Bagley, the Vikings vice president of stadium development and public affairs." -- under the current bill at the Arden hills site the Vikings get 100% of parking revenue from all events (est 120 million), 100 % of naming rights revenue(200 million), 100% of suite revenue (150 million), 100% of PLS revenue (80 million) = 550 million. There are a number of other treats for them. But that is why this is such a bad deal fo MN. We put up 60% and get nothing, he puts up zero, and get 550 million (less the 225 million). Worse for the fans, since he is not putting up any money, just the promise from future revenue, he can pull up stakes and move along to the next stadium that promises him a better deal - ever hear of Al "never met a lease I could not breeak" Davis?

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