New Vikings Stadium

"Metrodome Next" project envisions a new world-class, retractable-roof facility; revitalized neighborhood; and year-round, multi-purpose facility that benefits the entire State

MINNEAPOLIS (April 19, 2007) - The Metropolitan Sports Facilities Commission (MSFC) today reviewed the redevelopment potential of the H.H.H. Metrodome site as the location for a new year-round, multi-use, retractable-roof facility that will keep the Vikings in Minnesota through 2041 and can help spur a broader redevelopment of the Downtown East neighborhood around the Metrodome.

Commission staff presented its recommendation in an interim report on redevelopment of the Metrodome stadium site. The report is based on extensive research into current and future stadium costs, ancillary development potential and the program needs of the Minnesota Vikings. The Commission voted unanimously to receive the report and directed staff to continue to move forward toward .

"There is urgency to the question, �What�s next for the Metrodome site?� Our goal is to come up with the right answer," said Roy Terwilliger, Chairman of the MSFC. "We believe a new stadium on the Metrodome site is the right answer because of the benefits it can deliver to the people of Minnesota. We need a year-round, multi-purpose facility in the Twin Cities, one that can attract and host everything from the nine-man football championship to a Women�s World Cup Qualifier to the Final Four."

The report received by the Commission estimates that the cost of a new facility constructed on the Metrodome site with a retractable roof will be approximately $954 million and that it would be a positive driver of development beyond the Metrodome site, particularly in conjunction with other factors, such as the naming of a master developer for the area. The report also provides information on stadium projects in other communities.

As part of the meeting, the Commission received a presentation from the ROMA Design Group, which was charged with envisioning how the stadium development could help spur ancillary development in the surrounding neighborhood. Boris Dramov, a world-renowned urban design authority from San Francisco represented ROMA. ROMA has done extensive master planning in San Francisco near AT&T Park (San Francisco Giants) and in San Diego near PETCO Park (San Diego Padres).

The vision of a redeveloped Metrodome site, created by ROMA and the Hoisington Koegler Group of Minneapolis, knits together a redeveloped Downtown East, with the stadium as the anchor, with the surrounding neighborhoods: the Downtown core area, Elliot Park and the Mills waterfront district. The area is further anchored by a "Winter Garden" light rail train station adjacent to the new stadium that is a destination in itself. Their vision is consistent with the City�s current master plan.

This vision is compatible with current growth patterns in the area, which suggest that growth in downtown Minneapolis over the next several decades will be to the east of the current core area. The ROMA vision is not to create a new downtown, but to infill the Downtown East area with a new medium-density, mixed-use, live-work neighborhood. It includes:

- The realignment of the downtown area through the creation of new east-west and north-south streetscapes that connect better the downtown core to the Mississippi River and to other neighborhoods
- Adaptive reuse of historic buildings
- A stadium design that provides a new "front door" to the City, a continually active plaza and new development opportunities on the stadium site
- An enhanced transit hub with a Winter Garden that will feature destination entertainment and an intermodal facility, completing the City�s front door and providing an additional catalyst for Downtown East redevelopment
- A new in-town "live-work" neighborhood
- A revitalized Chicago Avenue
- The extension of Washington Avenue redevelopment to the east to forge a connection with the Riverfront and Mills districts.

"Today, we saw a vision for what can be next � a world-class, retractable-roof stadium that can make Minnesota a year-round host to major events � and a driver for development that enhances our quality of life. We have the opportunity to secure the benefits of an NFL franchise and those of a year-round, multi-use facility for the next 30 years," Terwilliger said.

Financial Considerations

The estimated cost of a new, retractable-roof multi-purpose stadium on the existing Metrodome site is approximately $954 million. This cost estimate is in line with the projected costs of similar stadium projects that have been built or are currently in the planning phases such as:

*Location*		*Type*	Cost*
Detroit (2002)	Fixed Roof New		$471 million
Seattle (2002)	Open Air New		$465 million
Chicago (2003)	Open Air Renovation		$590 million
Glendale (2006)	Retractable Roof New		$458 million
Indianapolis (2008)	Retractable Roof New		$675 million
Dallas (2009)	Retractable Roof New		$932 million
New York (2010)	Open Air New		$1.7 billion
* Costs are published figures based on time-of-construction dollars; program elements may vary.

Item	Cost
Stadium Hard and Soft Costs		$616,564,000,
Retractable roof		$200,729,000
Parking development		$58,130,000
Land cost of 5th Street right of way		$8,892,000
Escalation to early 2010 construction start		$69,601,000
Total Project Cost		$953,916,000

A significant advantage of the current site is that it uses existing infrastructure in the form of roadways, access ramps, surface streets, parking ramps, transit lines and stations, sewer, power and telecommunications, an infrastructure worth "billions of dollars," according to SRF Consulting Group, an infrastructure planning firm. Duplicating this infrastructure in a suburban location would add hundreds of millions of dollars to the cost of a comparable project.

Beyond the inclusion of existing infrastructure and a substantial investment by the Vikings, the assumption is that the balance of the redeveloped alternative will be paid with public monies. The staff believes that the redevelopment option offers the best alternative that will serve the State for decades to come.

"For 25 years, our State has been well-served by the Metrodome, but it no longer meets the needs of the Vikings and the NFL, or the expectations of sports fans in terms of amenities or fan experience. Now is the time to secure these benefits for our next generation," Terwilliger said. "In three years, the Minnesota Vikings will be the only major sports team playing in the Metrodome, and its use agreement with the facility expires in 2011. We look forward to the opportunity to discuss these recommendations and to move the public debate forward on what will be an important investment for the future of our quality of life in Minnesota."

We at www.vikingsstadium.com are 100% Purple Pride Viking fans. The Vikings and Twins (as well as the other Minnesota sports teams) have always been part of the "common community ground" that we have all shared together in Minnesota. Most of us, when we get together, begin with our common enjoyment of our teams, "breaking the ice" with our "Minnesota nice" takes on the Vikes and Twins (and sometimes the Timberwolves) and then we get on with the rest of our stories about other things we have to do (work, family, projects, neighborhood, etc., whatever it may be.

We at www.vikingsstadium.com are totally independent of the Vikings and any of their organizations. However, we invite the Vikings, owners, coaches and players alike, and all other Minnesotans to join with us in working out a solution together which will work to the benefit of all the people (local fans who are the taxpayers) of Minnesota. large and small businesses impacted directly and indirectly by the Vikings, the Governor, the state legislators and the fans of the Vikings worldwide.

QUITE SIMPLY: WE DON'T WANT TO LOSE THE VIKINGS. But as Bob Dylan sang, "The times, they are a changin."

The Vikings have NOT changed. Football has NOT changed. The enjoyment and community camaraderie we get has NOT changed. The many common community and business and personal benefits we get have NOT changed. BUT! THE FINANCIAL ENVIRONMENT and related to that, the THE PHYSICAL PLAYING FIELDS (now called "venues"), HAVE changed. For a crisp analysis of the situation that best explains why we are at risk of losing our team see the cover story on the financial environment of the NFL and the crucial role played by the stadiums, in the September 20, 1999 Forbes Magazine.

If we want to keep the Vikings we have to adjust to the new reality that professional sports is now both big business and big entertainment.

BUT! It can still be a happy public-private partnership, just as the one which developed the Metrodome and paid it off 14 years early. We can develop a similar model with the Vikings.

We want to have a great season every year. Both national magazines and our own local newspapers have underscored the fact that our current stadium situation limits our ability to do two critical things, FIRST, run the business franchise profitably, and SECOND, field a competitive team -- the kind of team our fans demand and Red McCombs is committed to putting on the field. And. in Minnesota, we have the quality of life many players would like to enjoy for themselves and their families.

But the fact remains that the business of professional football is changing, and, as stated by the previous owners, the Vikings need a new stadium if the Vikings are to keep pace with the rest of the league. In 1999 the Vikings will fall $11 million below the league average in total revenues. But costs remain above that. Without a new stadium that can provide the same (and additional) revenue sources other teams enjoy, that gap will get wider every year. Soon, the Vikings will no be able to generate the revenues needed to operate the team.

Yes. We're fortunate to play in a financially healthy league that works to ensure smaller-market teams like the Vikings have a chance to compete. And although the bulk of shared revenues come from national broadcasting rights, and each NFL team gets the same amount each year, additional revenues are needed to keep pace with the escalating operating costs, which can only be achieved with a new stadium. The shared revenue scheme has not leveled the playing field. The larger markets have built stadiums which can generate home town revenues for the team. Minnesota does not have that. To field any team let alone the Vikings, teams have to have the new type stadiums.

We at www.vikingsstadium.com believe that by working together, we can develop a new financial model which will satisfy the owners who need to make a profit, the taxpayers who don't want to subsidize millionaires, the small businesses and others who profit from the games, and, of course the fans for whom the Vikings have long been a cherished part of their lives. We are inviting all the key players in the debate both for and against a new stadium to join with us in working to put our heads together to create a new financial paradigm that works for Minnesota and in turn works for the Vikings which means it will work for the fans.

Unfortunately, shared revenue is only one part of the equation. 21st century profitability will be based on Non-shared revenues which will come primarily from stadium sources such as concessions, parking, suites, club seats, advertising and any other activities which a team can develop and use to generate revenue. In 1999, these revenues will vary greatly from team to team, and the Vikings will rank near the bottom of the league.

The salary cap helps teams like the Vikings compete for star players by putting a ceiling on the total amount teams can pay players. But the salary cap is tied to the average NFL team revenue and it will rise as the average team revenue rises. Without new stadium revenue sources, the Vikings will fall further below average and will be faced with a tough choice: pay up to the salary cap and lose money, or pay below the cap and lose star players.

This rank position seriously limits the Vikings revenue opportunities. The Vikings rank at or near the bottom among all NFL teams when it comes to important stadium revenue sources like concessions, parking, suites, club seats and advertising.

Because of shorfalls in every stadium revenue category, The Vikings are projected to rank 30th out of 31 teams in the NFL in total revenue for 1999. This is unlikely to improve without a new stadium.

We also want a facility that better serves fans. More people than ever are looking for a way to attend a Viking game. Naturally it is wonderful that the Vikings have sold out of season tickets for the 1999 season and that there is a waiting list for the first time in Metrodome history. To cover the growing need, more seats are needed. The Vikings also need to offer better accommodations -- more restrooms, more concession areas, wider concourses -- so fans no longer have to choose at half-time between the restroom and a snack.

The Metropolitan Sports Facilities Commission recently issued thoughtful proposals for renovating the Metrodome for both football and baseball.

After a hard look and careful consideration it has been determined that a renovated Metrodome is not an acceptable solution for the Vikings. First, it cannot provide space for both more seats and more fan accommodations. Second, it cannot provide enough revenue-generating opportunities to improve the team's financial picture and allow the Vikings to compete with the rest of the league. In addition, by the time the renovation would be completed, the Metrodome would be nearly 25 years old, and maintenance costs would continue to rise.

While the Metrodome is no longer a viable NFL facility in terms of revenues, capacity and fan accommodations, it is a good example of a successful private/public partnership. The stadium's debt was retired 14 years ahead of schedule and we believe it's time to reinvest in a new facility.

We believe that there are enough examples out there to provide Minnesota with a model which will work for all concerned, from the taxpayers, that is all citizens, to the legislators trying to develop a public-private partnership that will satisfy all, to the owners who will need to show a profit, to the coaches who need to develop a competitive team, to the players on the field, and to the fans in the stands and watching on TV and listening to the radio.

As fans, we're thinking football. We have also geared up for an exciting 1999 season. At the same time, we would like to begin a conversation about the next home for Minnesota Viking football. We believe there is a stadium solution that will benefit not only the team, by also fans and the state of Minnesota. We are committed, cooperatively to "Creating a solution to continue a tradition."

We invite you to submit your suggestions. We will sift through the suggestions as we continue to develop our own research, with the goal to come up with a means and mechanism to achieve a win-win "conflict resolution" for all sides concerned.

VIKINGS SAY THEY ARE STILL IN THE STADIUM GAME
November 4, 1999
Copyright 1999 MediaVentures

Depite voter rejection of a new ballpark for the Minnesota Twins, the NFL Vikings say they will still press their case for a new stadium. Team officials are scheduled to meet with Minneapolis and Hennepin County leaders soon to update them on the team�s situation.

The team is considering a new $400 million stadium and will contribute $100 million to the project. That means the rest of the funding must come from the city, county and/or state.