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Vikings Reach Deal With Univ. Of Minnesota To Play Two Seasons At TCF Bank Stadium
Published May 9, 2013
STATING THE CONTRIBUTION: Minnesota Gov. Mark Dayton yesterday said that state officials are “working on a new source of money to pay the state’s share” of the new Vikings stadium. In Minneapolis, Baird Helgeson noted Dayton “would not reveal the source of money.” But he said that the plan “does not include the team paying a larger share" of the new $975M stadium. Dayton added that the proposal “does not include a plan to impose a new tax on sports memorabilia.” State leaders had “counted on additional revenue from new electronic pull-tabs and bingo games, but the money has already fallen so dramatically below projections that state leader are scrambling to find another source of revenue.” The state needs about $30M a year to "pay its share of the stadium” (STARTRIBUNE.com, 5/8). Helgeson notes Dayton is “considering closing some tax loopholes to help pay the state’s share.” Dayton’s administration said that the new plan “will not include any expansion of gambling or new casinos.” The stadium funding plan "already has two other backups: A sports-themed Minnesota Lottery game and a tax on stadium suites.” But those “don’t bring in a lot of money and likely would not make up the gap left by the electronic pulltabs and bingo” (Minneapolis STAR TRIBUNE, 5/9).