The Minnesota Vikings are once again increasing their contribution to the new stadium that will open for the 2016 season.
The Minnesota Sports Facilities Authority announced the Vikings’ additional $14 million toward the project at Friday’s board meeting, bringing the team’s private contribution to the project to $566 million after legislation passed in 2012 that put the Vikings on the line for $477 million and a contingency guarantee of an additional $26.4 million.
However, the Vikings have blown past their original commitment by $89 million dollars with 11 separate cash contributions since legislation passed, ranging from $1.2 million to $19.7 million.
In the latest increase, nearly $13 million of the $14 million invested by the Vikings will be directed toward the stadium’s television system, including the more than 2,000 high-definition TV monitors that will be displayed throughout the building. Having previously covered design fees to increase the number of televisions from 800 to over 2,000, the team’s contribution on Friday will cover costs associated with the additional monitors and the backbone video control system.
The rest of the cash commitment made Friday will go toward lighting and utility enhancements and exterior signage.
While the Vikings’ private contribution now makes up 53 percent of the $1.076 billion stadium, the public contribution has remained steady at $498 million, which was what the original legislative bill outlined. The Vikings’ total does not include costs of $23.2 million to relocate to TCF Bank Stadium on the University of Minnesota for two seasons while the new stadium is constructed.
The Vikings will also make annual contributions of $14.5 million (that will inflate 3 percent each year) for rent, capital improvements and game-day expenses.