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SMG To Manage Vikings' New Stadium Under A 10-Year Deal

SMG will operate the Vikings' new stadium after beating AEG and Global Spectrum in an intense competition for the contract, said team Exec VP/Public Affairs & Stadium Development Lester Bagley. As part of a 10-year deal with a five-year option, SMG will pay a $6.75M annual guarantee to the Minnesota Sports Facilities Authority, the Vikings’ landlord. SMG’s extensive experience running four NFL stadiums in Chicago, Houston, Jacksonville and New Orleans was the deciding factor, Bagley said, as well as the nine Super Bowls it has been involved in over the years at its buildings. Minnesota will play host to the '18 Super Bowl one year after the '17 event at NRG Stadium, an SMG account.

The Vikings are kicking in an additional $49M in private money to meet overruns for the stadium project, which has total costs now officially over $1B. Also today, the stadium authority approved an agreement with the Vikings to include a potential MLS team as a tenant. The Vikings have committed to paying $340,000 in yearly rent plus game day expenses in return for collecting all revenues connected to the soccer team. Minnesota has not been officially awarded an MLS franchise.

SBJ Morning Buzzcast: March 18, 2024

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On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

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SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

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