As the cost of the new Vikings stadium inevitably exceeds estimates, the Vikings and their owners have committed to picking up a sizable chunk of the excess expense.
The team has announced that the Vikings and the Wilf family will increase the private contribution by “up to” $41.4 million. The commitment, according to the team, “will guarantee the new stadium retains its iconic design and multiple fan amenities necessary for the overall experience.”
The release has no specifics; last month, concerns emerged that giant glass doors to be located at the main entrance would lose 40 feet in height due to cost increases.
“From day one our goal has been to build a stadium that benefits the entire state of Minnesota and provides the best game day experience possible for our fans,” said Vikings owner/president Mark Wilf. “This additional commitment is to ensure several of the features that are so important to all users of the stadium remain in this project.”
The new commitment covers a $13.1 million line of credit, a $13.3 million contingency guarantee, and $15 million in costs arising from the playing of games at the University of Minnesota in 2014 and 2015. The $15 million arising from playing games at the University of Minnesota previously was part of the total $975 million stadium budget.
The Vikings initially had committed to a private contribution of $477 million. The new amount pushes the private contribution to a maximum of $518.4 million.
Groundbreaking for the new stadium is scheduled for Tuesday, December 3. Assuming that the ground in Minnesota will actually be breakable on December 3.