The Minnesota Vikings franchise just made millions of people excited with their latest news.
Earlier this year, it was announced that the franchise would be able to pay off debt on their publicly owned home stadium 23 years early, thanks to a new tax bill signed by Gov. Tim Walz. Not everybody believed them at all.
The stadium cost slightly more than $1.1 billion to build and hosted the NFL’s Super Bowl LII in 2018. The Vikings and other private donors contributed approximately $620 million, with the state and city contributing approximately $500 million.
According to Front Office Sports, the Vikings and the state of Minnesota have completely paid off the construction costs of U.S. Bank Stadium and they did so 23 years ahead of time, which saved the taxpayers of Minnesota over $226 million in interest.
The bonds on the stadium had an interest rate of 4.25% and were scheduled to be paid off in 2046.
Front Office Sports revealed that this was possible because tax revenue from electronic pull tabs brought in revenue far above and beyond the original projections.
Click on ‘Follow Us’ and get notified of the most viral NFL stories via Google! Follow Us
Lester Bailey, Vikings executive vice president of public affairs, called the decision “great news and the latest chapter in a success story that has benefited Vikings fans, the city of Minneapolis, and the state of Minnesota.”
The Vikings are coming off a 13-4 season, but the team lost to the New York Giants at home. Just maybe the franchise can deliver a bit more happiness with better play on the field.
