Examining the latest Vikings stadium report
March, 31, 2011
3/31/11
10:39
AM ET
By
Kevin Seifert | ESPN.com
I know it might come as a shock to many of you, but sometimes politicians leak sensitive information to gauge public reaction before they solidify their position on an issue. I have no idea if that's the case with Tom Hauser's report on the details of a proposed stadium financing bill for the Minnesota Vikings, but let's examine it as if it is.
Remember, legislative bills are subject to change and negotiation. If the Vikings bill is introduced in the form Hauser reported, here are some issues that will have to be worked through:
Again, we should consider this report a start. Some of the numbers might seem big and unreasonable, but they're better than having no numbers at all. Indications are that a bill could be introduced within the next week. But I'm betting its sponsors will be carefully watching reaction to Hauser's report and could fine-tune as necessary by next week.
Remember, legislative bills are subject to change and negotiation. If the Vikings bill is introduced in the form Hauser reported, here are some issues that will have to be worked through:
- The bill would require the Vikings to pay a third of the total cost of the stadium, plus overruns. We've estimated the cost of a stadium, not counting infrastructure, at around $920 million. That means the Vikings would be asked to account for about $306 million. Their most recent offer was around $215 million.
- As much as $150 million of the Vikings' contribution would come from an NFL loan program that is suspended until a new collective bargaining agreement is reached. Someone might have to step in to close that gap.
- The proposed state taxes would include a surcharge on player incomes. I'm not totally sure what that means, but I'm guessing the Vikings (and their players) would be staunchly opposed to an additional and specific tax on their earnings.
- If you do the math, you see the bill is counting on as much as $500 million from the county that ultimately hosts the stadium. According to Hauser, that money would be raised by a 1/2-cent increase in that county's sales tax. Keep in mind that Hennepin County, where the Metrodome is located, has already raised its sales tax by 0.15 percent to help fund baseball's Target Field.
Again, we should consider this report a start. Some of the numbers might seem big and unreasonable, but they're better than having no numbers at all. Indications are that a bill could be introduced within the next week. But I'm betting its sponsors will be carefully watching reaction to Hauser's report and could fine-tune as necessary by next week.




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