There is now new proposal for New Vikings stadium

On Monday morning, a new proposal on how to collect money for construction of Minnesota Vikings’ new stadium was released by legislators, whose major plan is to ask those benefiting from the new stadium to pay for the cost of constructing and maintaining it.

According to estimation, it will cost about $791 million to build up and run the new stadium, and the Vikings franchise is asked to pay $222 million. Another $527 million will be paid over a 40-year period, and the remaining $42 million is to be collected through admission tax and concession surtax that are included in what Vikings fans pay for the tickets.

Among the $527 million to be collected through various sources, $31.9 million will be collected annually from sales of sports lottery tickets, taxes for hotels, rental cars and vendors who sell Vikings products like Vikings jerseys, caps or footballs. The annual pay means that the Vikings need to sign a 40-year lease to finish the pay. And even if the team chooses to leave Minnesota, they still have to pay out the remaining debt.

According to the authors of the proposal, the bill will offer jobs to 13,000 people and bring $300 million in new wages to Minnesota. And what’s more important, it will keep the NFL team with the city for at least another 40 years. However, protesters pointed out that it’s unreasonable to raise money though taxes on hotels and rental cars as it would actually means anyone who stays in hotel or rents a car, even not to visit the new stadium, will have to pay for the stadium.