'nother take on the same article:
VIKINGS LOSING MONEY, AND SPENDING IT
Kevin Seifert of the Minneapolis Star Tribune reports that the Vikings lost $10 million in 2005
, following three straight years of profit under former owner Red McCombs.
New owner Zygi Wilf, who ponied up $600 million for the franchise, has put out a cash call to his partners in order to cover expenses due to contracts signed in the waning months of the McComb era, a renovation project at team headquarters, and increases in player and coaching payrolls.
Wilf expects to lose money again in 2006.
"I bought this team with the intent of enjoying football," he said. (If that's the case, Zyg, we would have sold you our DirecTV hookup for only $595 million.)
"Revenue sharing will buffer us from further losses," Wilf said. "We're hoping that building a new stadium will allow us to become profitable. But right now, you really have to love your football. You have to love your football, because on the financial side it will become more and more difficult.
"We've felt we've needed to spend the money to be competitive, and we did that," Wilf said. "We will continue to do that. We know it will continue to eat away at our profitability until we're able to get into a new stadium."
And because the question of whether the team will get a new stadium in Minnesota is still up in the air, the fact that the organization is spending more money than it is earning will make the team a candidate to be the franchise that gets into a new stadium . . . in Los Angeles.