Vikings increase share of stadium cost to $500 million - KMSP-TV

Vikings increase share of stadium cost to $500 million

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MINNEAPOLIS (KMSP) -

The Minnesota Vikings and the Wilf family on Friday committed an additional private contribution of up to $41.4 million toward the cost of the new stadium. The extra money means the Vikings are now covering roughly 51.5 percent of the stadium's cost.

The new financial commitment puts the team's share of the cost above the public share of $498 million. The team originally committed to a $477 million share.

The Vikings said the team's larger contribution is the only way to keep the design and features planned for the $1 billion stadium.

"From day one our goal has been to build a stadium that benefits the entire state of Minnesota and provides the best game day experience possible for our fans," Vikings owner and president Mark Wilf said in a statement. "This additional commitment is to ensure several of the features that are so important to all users of the stadium remain in this project."

GUARANTEED MAXIMUM PRICE

The Minnesota Sports Facilities Authority on Friday approved a construction cost of $763 million and overall project cost of $975 million. The stadium is expected to hit a "substantial completion" deadline of July, 2016.

The "guaranteed maximum price" finalizes the stadium building contract and gives Mortenson Construction the authority to move ahead with construction.

DEC. 3 GROUNDBREAKING

Groundbreaking has been scheduled for Dec. 3.

This season will mark the Vikings' final home game at the Metrodome, Dec. 29 against the Detroit Lions. Demolition is expected to begin in January or February.

The University of Minnesota's TCF Bank Stadium will host the Vikings for the 2014 and 1015 seasons during the new stadium's construction.

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