Minnesota House To Vote on New NFL Stadium
April 25, 2012
With the Minnesota State Legislative session nearing it's end, the Minnesota Vikings are homeless and in dire need of a new NFL stadium. Upon the expiration of the franchise's lease with the Metrodome last season, the Vikings are expected to share TCF Bank Stadium with the University of Minnesota's Golden Gophers until a new stadium is constructed.
The proposal for the new NFL stadium calls for an estimated construction cost of 1 billion dollars on the current site of the Metrodome. A house committee recently rejected the stadium proposal. After serious threats of relocation by both Roger Goodell and the Vikings front office, the bill has been pushed to the front of the line in the house under a new bill. The new bill will be voted on early Friday.
The Metrodome has been vacant of baseball since 2010 when the Twins moved into their new ballpark at Target Field. Target Field was financed primarily with tax dollars which is likely the reason the house rejected the bill for a new NFL stadium initially. Under the proposed plan, the Vikings are expected to contribute the largest share for construction at a near $450 million. $150 million in additional tax revenue as well as money from Minnesota gambling revenue are expected to cover the remaining costs.
As fans of the Seattle Supersonics, Quebec Nordiques and Los Angeles Rams have learned, when owners don't get new and updated venues erected for their franchise, they often resort to another city that will. As many NFL fans have also learned, new NFL stadiums built with taxpayer dollars rarely ever offer the long term economic benefits promised. Just ask Cincinnati Bengals fans.