State Leaders Unlikely To Consider Financing For Vikes' Stadium
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Minnesota Legislators Unlikely To Address Financing
For New Vikings Stadium In '08 Legislative Session |
Minnesota Gov. Tim Pawlenty and members from the four state legislative caucuses met with NFL execs yesterday and said that they "almost certainly won't consider plans for a new [Vikings] stadium during the 2008 legislative session," according to Kevin Seifert of the Minneapolis STAR TRIBUNE. Pawlenty said, "We've got other priorities right now." Minnesota state House Speaker Margaret Anderson Kelliher said support for public financing was "highly unlikely." NFL Exec VP/Finance & Strategic Transactions Eric Grubman indicated that among the issues legislators "expressed concern [with] ... is how Vikings Owner Zygi Wilf will propose to pay for the stadium." Wilf has pledged $250M toward a proposed $954M stadium, but the Vikings "have yet to propose a financing plan for the public's share." Grubman said the legislators would "like to see a (financing) plan emerge. That's probably the next step" (Minneapolis STAR TRIBUNE, 12/4). Grubman added that the NFL's G-3 fund was "tapped out with construction of a new Giants-Jets stadium in New Jersey, but a Vikings stadium plan that wins support from other NFL owners might still get some unspecified financial backing from the league" (AP, 12/3). Vikings VP/Stadium Affairs & Development Lester Bagley said, "When people ask who's the local partner, the state has been the chief beneficiary of the Metrodome in terms of return investment and in terms of tax dollars. ... So the state should be in partnership with the Vikings and the [Metropolitan Sports Facilities Commission] to solve the problem" (AP, 12/3).
L.A. CONFIDENTIAL: In L.A., Bill Shaikin cites sources as saying that Dodgers Owner Frank McCourt and partners "intend to make another run at the NFL after making major changes to Dodger Stadium and the surrounding areas." The plan, "which involves as much as [$500M] in investments, calls for upgrading the venue and augmenting it with a nearby mixed-use development that includes retail shops, housing and the like." The NFL recently informed L.A. Coliseum officials that their plan to bring an NFL team to the city was "not economically feasible." Additionally, "it appears Anaheim is moving forward with a retail development -- and not a football stadium -- in the parking lot of Angel Stadium." L.A.-based Majestic Realty Chair & CEO Ed Roski is also working on a stadium proposal on land he owns in Industry, California (L.A. TIMES, 12/4).
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