SBD/June 9, 2014/Facilities

Sources: U.S. Bancorp Close To Landing Naming Rights-Deal For Vikings New Stadium

An announcement is expected “in the near future that the naming rights for the new Vikings stadium will go to U.S. Bank,” according to sources cited by Sid Hartman of the Minneapolis STAR TRIBUNE. Sources said that "work on a contract for a long-term agreement" between the Wilf family, which owns the Vikings, and U.S. Bancorp is "happening, and unless someone emerges with a much better bid, or the recently announced cost-cutting at U.S. Bank creates a problem, the deal will be an agreement much like the one the Twins made with Target for a 25-year contract, with its worth believed to be between” $7-$10M per year. Vikings co-Owner Zygi Wilf and his family are “very friendly” with Minneapolis-based U.S. Bancorp Chair & CEO Richard Davis and the relationship “got even better recently when Davis played a big part in helping the Vikings obtain” the ‘18 Super Bowl at the new stadium. Meanwhile, the Wilfs are “working hard” to get an MLS franchise for the new stadium and are “likely the only suitor willing to pay" the $80M cost for an expansion franchise, "or to pay the market rate for a new stadium and the rights to move a club from its current home.” While the Wilfs have been “meeting with league officials,” Twins CEO Jim Pohlad also has expressed “some interest in landing an MLS team, but that would have no connection with the Twins.” NASL Minnesota United FC Owner Bill McGuire “also is interested in an MLS franchise, but it is doubtful he would pay” the $80M price tag (Minneapolis STAR TRIBUNE, 6/8).

TOP NFL STADIUM NAMING-RIGHTS DEALS
STADIUM
TOTAL
YEARS
AVG. ANNUAL VALUE
EXPIRES
ANCHOR TENANT(S)
Farmers Field*
$600M
30
$20M
TBD
TBD
MetLife Stadium
$425-625M
25
$17-20M
'36
NFL Jets, Giants
NRG Stadium
$310M
31
$10M
'32
Texans
Gillette Stadium
$240M
15
$8M
'31
Patriots, Revolution
Levi's Stadium
$220M
20
$11M
'33
49ers

NOTE: AT&T's naming-rights deal for the Cowboys stadium has not publicly been released, but reports have the deal at $17-19M annually.
SOURCE: Resource Guide LIVE
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