Vikings have financial ability to move forward with stadium - FOX 35 News Orlando

Vikings have financial ability to move forward with stadium

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Xcel Energy already working to move power lines near the Metrodome. Photo by Tim Blotz / FOX 9 News. Xcel Energy already working to move power lines near the Metrodome. Photo by Tim Blotz / FOX 9 News.
MINNEAPOLIS (KMSP) -

The Minnesota Vikings "will have the financial capability to move forward with the stadium project," Minnesota Sports Facilities Association chairwoman Michele Kelm-Helgen said.

Kelm-Helgen said the MSFA is on track to finish its review of the Wilf family finances by Sept. 15. It's still possible to have financing approved by Nov. 1 to the state can begin selling bonds for the new stadium.

"It's not finalized yet. We won't have the report finished until next week and they are still waiting for some other information that has yet to be provided," Kelm-Helgen clarified. "It's qualified at this point, so I feel like, preliminarily, we've got a positive response."

The chairwoman said the MSFA is also waiting for the Vikings to return to the table on a stadium use agreement. No stadium naming rights have been discussed so far either.

Kelm-Helgren did confirm the groups have talked about personal seat licenses which could be available through a one-time fee paid on a season ticket. Nearly every new NFL stadium has incorporated seat licenses as a way to pay for construction costs.

MSFA STATEMENT (SEPT. 4)

The Minnesota Sports Facilities Authority's (MSFA) Commissioners met today in a closed meeting to discuss legal issues consistent with the notice for the meeting. The MSFA board discussed attorney-client privileged information within the meaning of the Minnesota Open Meeting law. Authority board members and key staff are subject to a confidentiality agreement which prohibits them from discussing the content of certain parts of today's meeting.

"We have almost all the information, both financial and legal, that we need to finalize the due diligence review," said board Chair Michele Kelm-Helgen. "While the preliminary update given to the board today shows substantial progress, Dorsey and FTI will have to wait for all of the requested information in order to complete their final report. However, based on the information received to date, we have indications that the Team will have the financial capability to move forward with the stadium project.

The report will detail our due diligence process and provide findings to the Authority. We expect this report to be finalized next week and will make this public as soon as we receive it.

VIKINGS STATEMENT

The Vikings are pleased that the stadium project continues to move forward. Our fans deserve -- and we are committed to building -- a state-of-the-art facility in downtown Minneapolis. The new $975 million stadium will bring thousands of construction and ongoing jobs, along with further economic activity from stadium attendees who will patronize restaurants, bars and retail stores both before and after events.

We continue to believe that the stadium will be built on schedule and will open in time for the 2016 season. The team continues to work collaboratively with the Stadium Authority on the stadium project, and the Authority's comments today are a reflection of our partnership. We will continue to address the design and construction process, and we will work with the Authority to finalize the Use and Development Agreements.

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