Vikings' new stadium will cost insane amount

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Vikings' new stadium will cost insane amount

From Comcast SportsNet

ST. PAUL, Minn. (AP) Now that the Minnesota Vikings will get their new stadium, the worrying can begin over a gambling expansion designed to pay the state's share of the 975 million project.

By passing the final stadium bill Thursday, lawmakers committed the state to raising 348 million by allowing electronic pull-tabs and bingo in bars and restaurants. The financing plan drew skepticism on the bill's way through the Legislature, prompting the sponsors to include backup measures in case the pull-tab dollars don't materialize, including a lottery game and luxury suite taxes.

Gov. Mark Dayton has pledged to sign the stadium bill into law after serving as its chief cheerleader. Backers pushed it through the Legislature after years of failed attempts, despite opposition from no-new-spending Republicans, liberal Democrats and even the top House Republican, Speaker Kurt Zellers. Lawmakers were on the receiving end of an intense outpouring of support from Vikings fans, while the state's business leaders and labor unions also put their clout behind the project. Minneapolis Mayor R.T. Rybak brought 150 million from his city to the table, subject to a City Council vote later this month.

But money questions were on the sidelines Thursday as Vikings fans celebrated the bill's passage. In the Senate gallery, fans broke out in a rendition of the ''Skol Vikings!'' fight song, earning a reprimand from the Senate secretary.

''Let's build it!'' shouted Vikings vice president Lester Bagley, the team executive who spent much of the past decade lobbying for the nearly 1 billion stadium. The new stadium will be built on the downtown Minneapolis site of the 30-year-old Metrodome, an inflatable bubble-topped building the Vikings argued did not generate enough revenue for the team to compete.

On Thursday, the Vikings and the University of Minnesota announced they have reached preliminary agreement on the Vikings' use of TCF Bank Stadium during construction of a new Vikings stadium. Under the agreement, the Vikings will pay the university a fixed fee of 250,000 per game. The combined rent and expected concessions and sponsorship revenue that the Vikings would share with the university would amount to 300,000 per game, or 3 million per regular NFL season. The Board of Regents takes up the agreement Friday, and university President Eric Kaler could sign the letter of intent in the next few days.

The Senate vote capped an amazing comeback for the Vikings' stadium dreams, which just a few weeks ago were fizzling before a visit from NFL Commissioner Roger Goodell crystallized fears that the Vikings could leave the state without a new home.

At a celebratory news conference, owner Zygi Wilf recalled when he and his brother Mark first took ownership of the team nearly seven years ago and being asked whether they would move the team.

''We kept on fighting that this day would come, and it's here today,'' Wilf said.

Dayton publicly thanked the Wilfs for agreeing to a 50 million bump in their share in final negotiations this week.

''Without your willingness to take that last step, we wouldn't have crossed the goal line,'' the governor said.

The stadium project - with 51 percent of the construction cost covered by taxpayers - comes after years of state deficits and spending cuts to schools, health care and other programs. The state is currently in the black, but a 1 billion-plus deficit is projected for the two-year budget that starts in mid-2013.

''When this doesn't work, it's money right out of schools, right out of welfare, right out of health care, right out of you name it - everything we spend money on,'' said Sen. Sean Nienow, R-Cambridge, before he cast a vote against the project.

Opponents on both sides of the political spectrum predicted that the state is likely to further expand gambling if the electronic pull-tabs - now just a low-tech paper game offered in bars and restaurants - don't bring in enough money.

''They'll want to double down on the bad deal. We've created a monster here,'' said Sen. Dave Thompson, R-Lakeville, leader of the conservative faction within the GOP Senate caucus.

Stadium supporters noted that the final deal required the team to round up 477 million from private sources, 50 million more than originally promised.

Sen. Doug Magnus, R-Slayton, said he is confident the gambling money will come through. The bill envisions the new electronic games bringing in 59 million a year in tax revenue by 2014. But if tax collections end up being lower, a sports-themed lottery game and a 10 percent suite tax would kick in. Together the two measures would raise 4 million a year, Magnus said.

''Certainly there are a lot of folks that are never going to support any stadium no matter if a fairy godmother dropped one next door to us,'' said Magnus, who participated in a legislative group that worked behind the scenes on a bill for two years.

Over the long term, supporters also expect the stadium to be a good deal for the state. Sen. John Harrington, DFL-St. Paul, said he expects the return on the state's investment to be substantial over time. The Metrodome was built for 55 million, including 33 million in public money, and ended up bringing in hundreds of millions in tax revenue over the past three decades. Harrington said he voted yes on the stadium to help put people to work.

''I have 20 percent unemployment on the east side of St. Paul,'' he said. ''I need every job in this bill that we can possibly come up with.''

The deal guarantees the Vikings' future in Minnesota for three decades. Bagley said the team's billionaire owners, New Jersey developers Zygi and Mark Wilf, supported the final plan, even with the additional private cost, because time was running out. Senate passage came on the last day the Legislature was allowed to take votes.

''It's a good deal for the state, it's a good deal for our fans and it's a good deal for Minneapolis. It's a fair deal,'' Bagley said.

The Vikings intend to take advantage of an NFL loan program, sell naming rights and possibly impose seat license fees to help cover the team's end of construction costs. They will be bound by a 30-year lease on the stadium and pay about 13 million a year in operating fees. Minneapolis will kick in about 7 million a year for operating costs, and a public authority will have the power to rent the stadium on non-game days for concerts, conventions and special events such as monster truck rallies.

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Grading the Caps' offseason moves: Caps sign Zach Sanford

Grading the Caps' offseason moves: Caps sign Zach Sanford

The quest for the Stanley Cup doesn't begin on the ice, but during the offseason as general managers build their teams for the upcoming campaign. The Caps have made a number of moves this summer to try to make their team better and get over the playoff hump.

Let's break down and grade each move the team made this offseason to help figure out whether it was the right move for the team.

Today's move: Signing Zach Sanford

Every year at development camp there is always one or two players who stand out. This year, it was Zach Sanford. Not only was his physical prowess on display, (6-foot-4, 191 pounds), but his skill was as well. He looked comfortable with and without the puck and was miles ahead of most of the other prospects in terms of development.

Even so, it was a bit surprising to hear the Caps were pushing to sign him to an entry level contract. He still had two years of eligibility at Boston College and the Caps' roster is loaded. Why push for him to sign just to spend the season in the AHL?

The reason why the Caps did it most likely has something to do with Jimmy Vesey.

RELATED: CAN CAPS RELY ON JOE CANNATA AS THEIR NO. 3 GOALIE?

Vesey was drafted by the Nashville Predators in 2012. By staying in college for four years without signing with Nashville, he will become a free agent on Aug. 15 and looks set to test the market. The same thing may be playing out between Washington and Thomas DiPauli, the Caps' fourth round pick from 2012 who remains unsigned. This type of thing is rare and it certainly seemed to catch Nashville off guard, but it did serve as a reminder to teams: sign your prospects before they have the chance to leave.

Sanford was drafted in 2013 out of the Eastern Junior Hockey League. The rules for players drafted out of junior leagues are similar to those drafted out of college. Full disclosure, I do not speak legalese, but based on my understanding of the collective bargaining agreement that sets the rules for signing players, by playing one year in juniors after getting drafted, Sanford could have become a free agent in August of 2017. It does not technically matter that he will have played only three years of college, all that matters is that it will have been four years after he was drafted.

So what does that mean for him this season? The Caps are set at center with Nicklas Backstrom, Evgeny Kuznetsov, Lars Eller and Jay Beagle. Plus, Marcus Johansson and Andre Burakovsky can play if need be. Barring injury then, Sanford will spend the season in Hershey.

Brian MacLellan has hinted at trying to keep room under the salary cap open for prospects to cycle in and get some NHL experience throughout the season. Sanford will have to adjust from playing in the NCAA to the AHL, which is quite a jump, but don't be surprised if Sanford gets his first taste of the NHL later in the 2016-17 season.

Grade: Incomplete

Vesey may have changed the game when it comes to prospects. Teams need to get these guys signed when they can or risk losing them. The Caps may well lose DiPauli and they didn't want the same thing to happen to Sanford.

This gets an incomplete, however, until what position Sanford plays this season. He played wing and center in college. Considering his size, he could be a good power forward and someone the Caps are tempted to call up to plug into the bottom six, but I absolutely do not want to see this unless it is at center. You can never have enough centers and it would be better for the team in the long-term to commit to developing him as a center rather than rushing him as a wing.

Granted, I am not a scout. If the Caps have determined he has no NHL future as a center, then they should ignore this and develop him as a wing. That's not what I saw at development camp, however.

If Sanford spends the season in Hershey as a center, then this move is a solid A. If the Caps try to rush him into their lineup as a winger this year, however, that would be a mistake. Patience is a virtue.

MORE CAPITALS: DID CAPS MAKE THE RIGHT DECISION WITH CHIMERA AND LATTA?

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NFL finds no credible evidence Peyton Manning used HGH

NFL finds no credible evidence Peyton Manning used HGH

The NFL released a statement on Monday in which the league cleared former Denver Broncos quarterback Peyton Manning after a seven-month investigation to determine if the two-time Super Bowl champion was provided with or took performance-enhancing drugs.

The investigation stemmed from an Al-Jazeera America report in December that listed Manning among the professional athletes to receive shipments ofhuman growth hormones.

The five-time NFL MVP vehemently denied the claims and welcomed the league to investigate the matter.

"Following a comprehensive seven-month investigation into allegations made in a documentary by Al-Jazeera America, the NFL found no credible evidence that Peyton Manning was provided with or used HGH or other substances prohibited by the league’s policy on performance-enhancing substances," the league said in a statement.

"The Mannings were fully cooperative with the investigation and provided both interviews and access to all records sought by the investigators."

The Al-Jazeera America report alleged that Manning was sent shipments of HGH to his house under his wife's name from Charlie Sly, a pharmacist who worked at an anti-aging clinic in Indianapolis in 2011. Sly was Al Jazeera's key source, but then recanted his statements making the report all the more questionable.

Manning retired from the NFL in February following the Broncos' victory in Super Bowl 50 over the Carolina Panthers.

Initiated in January, the investigation was led by the NFL’s security and legal teams with support from expert consultants and other professionals. The investigation involved witness interviews, a review of relevant records and other materials, online research, and laboratory analysis and review.

RELATED: RANKING THE REDSKINS' 53-MAN ROSTER

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MLB Trade Rumors: Who should the Nationals target before the deadline?

MLB Trade Rumors: Who should the Nationals target before the deadline?

BY JEREMY FIALKOW (@JeremyFialkow)

The Nationals may be good — very good — but they're not perfect, not yet. 

With the trade deadline fast approaching, GM Mike Rizzo's hunt to turn the roster he assembled into a legitimate World Series contender will grab the spotlight.

CLICK HERE TO VIEW THE NATIONALS' TOP TRADE DEADLINE TARGETS

There's speculation around the league that Rizzo's plans start and end with adding a commanding bullpen arm, capable of shortening each game by three outs, at least.

Nevertheless, Washington has the assets on hand and in their farm system to secure anyone they fancy, whether it's an arm, a bat ... or both.

Fortunately for baseball fans (but unfortunately for the Nats) the 2016 season has been competitive all around, leaving teams deemed surefire sellers few and far between.

Still, Rizzo's team is in a desirable position with the always appreciated ability of flexibility, so which players will the Nats target before the July 31 trade deadline.

CLICK HERE TO VIEW THE NATIONALS' TOP TRADE DEADLINE TARGETS