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August 30, 2007
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Facilities & Venues

Vikings Cancel $45M Deal For Star Tribune Parcel Near Metrodome

Vikings Cancel $45M Land Deal, Which Could
Complicate Efforts For Downtown Stadium
The Vikings yesterday canceled a $45M deal to buy Star Tribune property near the Metrodome, “a move that could complicate the team's effort to build a new stadium at the site,” according to Lee & Brandt of the Minneapolis STAR TRIBUNE. Team officials “blamed the deal's collapse on turmoil in the nation's credit markets,” but added that they “remain committed to building a stadium on the Metrodome site and are continuing negotiations for other nearby parcels.” Vikings VP/Public Affairs & Stadium Development Lester Bagley said that there is “no connection between [yesterday’s] news and the team's position on remaining in Minnesota.” Bagley: "We have no intention to pursue any other location other than the Minneapolis site.” He added the collapse of the Star Tribune deal "doesn't necessarily mean it's dead altogether." Bagley said that he has “no evidence that the Vikings felt the Star Tribune's price was too high, but ‘maybe they felt that way’” (Minneapolis STAR TRIBUNE, 8/30).

FEELING MINNESOTA: Vikings Owner Zygi Wilf said that the decision to nix the Star Tribune land deal “doesn't have any bearing on any future decision to move the Vikings.” Wilf: "We had 120 days to do due diligence on the properties and decided to concentrate on getting a new stadium built rather than developing this area for other means. We already own three parking lots in the stadium area that we purchased some time ago and are in the process of trying to buy the parking ramp adjacent to the Metrodome." In Minneapolis, Sid Hartman writes, “I believe the Wilfs have cooled a little bit on the area because they were ignored in their first bid for a stadium while the Twins and [Univ. of Minnesota] were successful."  But he adds they will "somehow find a way to get the stadium built and, at least at the present time, they don't have any intention of moving the franchise” (STAR TRIBUNE, 8/30). Metropolitan Sports Facilities Commission Chair Roy Terwilliger, whose organization owns the Metrodome, said that he is “not worried about the collapse of the land deal.” Terwilliger: "I certainly don't read into it any lessening of their commitment to Minnesota" (ST. PAUL PIONEER PRESS, 8/30). 


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