Thread: Stadium updates.
Minn. Audit Finds Missteps by Stadium Panel - ABC News
Minn. Audit Finds Missteps by Stadium Panel
ST. PAUL, Minn. October 17, 2013 (AP)
The government panel that's managing construction of the new Minnesota Vikings stadium made several mistakes related to finances in its first few months of operation, according to a state audit released Thursday.
The Minnesota Sports Facilities Authority came into existence in August 2012 under the legislation that authorized stadium construction. In addition to overseeing that process, the authority also is managing the Metrodome until it is gets torn down to make way for the new facility.
The report from Minnesota's legislative auditor covers financial operations from August to December 2012. It found that the authority incorrectly classified about $833,000 from the Vikings for stadium construction as operating income, in violation of accepted accounting practices.....
VIKINGS STADIUM: Signs near site speak controversy
Posted: Oct 17, 2013 11:06 PM CDTUpdated: Oct 18, 2013 1:39 PM CDT
MINNEAPOLIS (KMSP) -As far as the city of Minneapolis is concerned, there's a lot more to the new Vikings stadium than the arena itself -- but additional developments to a dreary part of downtown aren't sitting well with team owners....The biggest issue appears to be the signs on the top of the roof at the new Wells Fargo headquarters, even though they'd only be visible from the air. The Vikings' owners worry the signs -- visible from a game-day blimp -- will diminish the money they could get for naming rights to the stadium.
Lawmakers Seek Accountability for Vikings Stadium Profits
Two lawmakers want to make sure money coming into the new Vikings stadium is re-invested in the facility.
State Representative Mary Liz Holberg, (R) Lakeville, plans on introducing a bill in the next legislative session that she says will make it more clear where all the profits from events at the new stadium are going....
Pittsburgh Magazine cites Vikings stadium deal as poster child for NFL's 'public extortion'
An article in this month's Pittsburgh Magazine takes a negative look at the National Football League's use of public money to build its stadiums around the nation, and the Minnesota stadium deal is the poster child.
"The NFL is Running a Billion-Dollar Con," by Sean Conboy, says:
"...the incomprehensibly rich NFL team owners are busy crafting a neat little narrative for you, the fan: They need more of your tax dollars to build their lavish stadiums."......
Our View: Use of PSLs at Vikings stadium shouldn't be surprising
Team costs a lot - for all except the owners
First, the obvious joke: If Minnesota Vikings fans are going to need licenses for their new stadium seats, what license do the Vikings need to be allowed to play on an NFL field after Sunday’s miserable loss to Carolina?
At times, it sure looked like the team lacked even a learner’s permit, much less a license......
Add those up and it appears the Wilfs might have to tap less than $10 million of their own funds to cover the Vikings’ share of the stadium. No wonder the Wilfs are highly successful in business; they might end up paying less than $10 million out of pocket for a $975 million home.
Ultimately, though, the real message behind the Vikings’ PSLs is that attending NFL games is becoming more and more unaffordable for average Minnesotans. From the $5 pretzels to $20 parking to $7 beers, it’s easy to see how the average NFL game-day experience costs each fan more than $100, according to Team Marketing Research.
And starting in 2016, PSLs will add even more to that cost for Vikings fans.
Cuts to New Vikings Stadium; Bids Exceed Budget | KSTP TV - Minneapolis and St. Paul
Cuts to New Vikings Stadium; Bids Exceed Budget
Groundbreaking for the new Vikings stadium is set to take place soon, but some of the things fans would have benefited from, are no longer part of the plan. That's because bids have exceeded the budget by $20 to $30 million dollars.
On the north side of the stadium, a 400-stall parking garage was slated to be built. But the ramp has been cut.....A skyway linked to another parking ramp to the south has been cut, and those massive 95 foot glass pivoting doors are now slated to be just 78 feet tall.