As the push for a new Vikings stadium in Minnesota continues, folks who are opposed to the use of public money to build a publicly-owned structure in which a wide variety of events would be staged have an idea for raising money.
Have the public buy a portion of the Vikings.
Representative Phyllis Kahn said Monday she’ll introduce legislation requiring the Vikings to sell 70 percent of the team via shares of stock, with a portion of the proceeds being used to pay for a new stadium.
“Dayton asked for all ideas to be put on the table and that’s exactly what I’m doing here,” Kahn said, according to the Minneapolis Star Tribune. “No single idea [for funding a new stadium] has gained enough traction to pass the Legislature.”
This one won’t either. In part because league rules don’t permit it.
“It is not permissible under our ownership policies,” NFL spokesman Greg Aiello told PFT via email. “There is no public ownership permitted.”
The Packers are publicly owned because they became publicly owned at a time when league rules permitted it. Besides, it would be hard for one person to go out and buy up all the stock. Under current rules, no public ownership is permitted, regardless of how much the majority owner retains.