Venue News: Minnesota Vikings, Edmonton Oilers Inch Toward Stadium Deals
With a key piece of the financing puzzle quantified Wednesday, state lawmakers are preparing a bill to finance a new Minnesota Vikings stadium. The bill would split the cost of the stadium among the Vikings ($407 million), Ramsey County ($350 million) and the state ($300 million). But, with lawmakers and Gov. Mark Dayton at loggerheads over the state budget, the odds of a stadium plan’s moving forward before the Legislature adjourns Monday are slim. Transportation officials from the Minnesota Department of Transportation and Ramsey County agreed on how much it would cost to improve roads and highways to accommodate the proposed $1.1 billion stadium project on the site of a former ammunition plant: $131 million.
Edmonton, AB, officials and the owners of the Oilers have reached a framework agreement to finance a $450 million downtown arena for the team. The deal would see the city provide $125 million and the Katz Group, which owns the Oilers, pay $100 million; another $125 million would come from a user-paid facility fee. Edmonton Mayor Stephen Mandel says they will now approach the provincial and federal governments for the remaining $100 million.
Las Vegas Mayor Oscar Goodman says a deal for a $1.6 billion downtown sports complex could soon be finalized. Goodman hopes to complete the contract on a proposed multi-use stadium near Interstate 15 in downtown Las Vegas next week. He says he wants to use the stadium to secure a professional basketball team for Las Vegas while he is still mayor. The 70-acre sports park would be privately financed.
Mississippi State University will take a significant step in expanding Davis Wade Stadium today when the state Board of Trustees, Institutions of Higher Learning, considers approval of the proposed $80 million project. Part of that project is the request to appoint LPK Architects of Meridian, MS, as the design professionals in charge. Gaining board approval to appoint LPK to the project is one part of the agenda item; the other is to request that the estimated $80 million price tag be funded through bonds, which would be paid back through revenue generated by football ticket sales and Bulldog Club donations.