Local Minnesota Governments Competing To See Who Can Give Billionaire Vikings Owner The Biggest Handout

Rob Port  •  January 12, 2012

The State of Minnesota has a struggling economy and a state budget with some serious holes. But that’s not stopping local city and county governments from getting into a bidding war to see who can give billionaire Minnesota Vikings majority owner Zygi Wilf the biggest handout.

And if you’re against this sort of thing, then you’re anti-football or anti-fun or something.

ST. PAUL — Ramsey County is raising to $375 million its financial offer to be the site of a new Minnesota Vikings stadium, while the city of Minneapolis is offering $313 million for the team to rebuild at the current Metrodome site.

Ramsey County and Minneapolis submitted dueling proposals Thursday to Gov. Mark Dayton. Ramsey County wants to build in suburban Arden Hills, while Minneapolis tries to keep the team in its downtown.

Ramsey County says it can raise $24 million a year with a 3 percent sales tax on food and liquor. Minneapolis’s plan calls for raising $6.5 million a year for 30 years, plus $150 million for construction, from existing sales taxes.

The Vikings are worth about $835 million, and generate revenues in excess of about $200 million per year. There’s no reason why the Vikings organization and its ownership couldn’t finance their own stadium.  But they won’t, because they know that if they hold out long enough and make enough noises about moving the team enough citizens, blinded by sports fanaticism, will join with starry-eyed local politicians to put together a nice, cushy subsidy package.

Which is happening right now.

It’s sickening.

I’m a sports fan (baseball is my sport of choice), but no amount of team loyalty would ever make handouts for billionaires look palatable to me.

 

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  • Gern Blanston

    Go Pack, Go!

  • Gulrud

    Second

  • Maybe.

    I tend to agree, in principal, but the reality is that the Vikings and other events bring many millions of dollars into the area for other business and construction of the new stadium will provide employment. Since other municipalities involve themselves in this market MN can only chose between letting the business go elsewhere or participating. 

    • http://pulse.yahoo.com/_RVIS42ZJEXB6TWZQHYCZF247II Willis Forster

      Jesse Ventura may have been the weirdest but not the worst Minn. governor. He did not believe in subsidizing millionaire owners of sport franchises.

    • http://sayanythingblog.com Rob

      t the reality is that the Vikings and other events bring many millions of dollars into the area for other business and construction of the new stadium will provide employment. 

      That sounds like Obamanomics talking.

      Stimulus spending, etc.

  • Caeslinger

    Would maybe agree with you if we weren’t already taxing the business immensely … merchandise tax, regular sales tax, liquor tax, lodging tax, gas tax (to drive to the game), etc. etc., not to mention – AGAIN – the enormous windfall the state sees off the player’s and other personal incomes.

    So if, in a simpler world where the company was allowed to operate without those burdens increasing the cost of their operations, yeah, your simple view of it would be more my view.

    But its not.

    • http://sayanythingblog.com Rob

      What you make is an argument for cutting taxes, not instituting new taxes to offset the burden to the team from other taxes.

      • Caeslinger

        Not exactly.  I’m making an argument that I believe we can have elected representatives make decisions about businesses of this size that they feel benefit the local society.

        And I make that assertion because we already tax everything so much, so I’m willing to play the game with this, TIF districts, renaissance zones, tax credits, etc.

        I would also completely be willing to play no game, with much less taxes.  But I don’t believe I have to choose one or the other.  One is what we have, so I support some public ‘help’ to get this done.

        • http://sayanythingblog.com Rob

          And I make that assertion because we already tax everything so much, so I’m willing to play the game with this, TIF districts, renaissance zones, tax credits, etc.

          In other words, you support the government picking winners and losers.  Because that’s exactly what those policies promote.

          • Caeslinger

            There’s fine lines between picking winners and losers and using TIF districts, renaissance zones, and this case of the Vikings, in my opinion don’t cross it.

            There is NO denying the benefit that the team brings to the state.  There’s just not even an argument there.  If they were to leave, it would hurt the state.  You can debate on whether or not you want to take the chance that they would leave or not.  But there is NO debate on what it would do to the state if they would leave.

  • Wesley Fargo

    If I was anyone in charge in MN, Whatever percentage the state or locals put into the stadium, I would want that same percentage in return as a percent ownership in the team. I would then offer those share for sale to the community just like the Packers do.  This way I could re-coup some of my outlay.

    • Demosthenes

      Packers are the only franchise grandfathered into the NFL with these stock options, no other league in the NFL is allowed to even if they wanted too.

      Hope this information is helpful.

    • Anonymous

      The Packer’s sale of shares aren’t really shares because you can’t sell them, vote with them, or transfer them.  Not really worth anything.

      • G-man

        Partially true.  However, owners are invited to shareholder meetings and can vote.  It’s symbolic but cool anyway.

  • putme2work

    LOOK IF WE DONT GET A DEAL DONE! MINNESOTA WILL LOSE MILLION’S

    • Fighting Czech

      spend millions to get millions????   not a good deal…citizen purchased stadiums are a great deal for the owners,  the players, fans,  the State, and a some local businesses.  most citizens dont get anything out of one of those things except the tax bill,  and the headaches.   

      • ndoldman

        I tend to agree wealthy owners wealthy players do they really need tax payer subsides to provide a place to play a game, when if cost to go is almost getting out of reach for alot of families. why can’t the stadium be a joint venture between the players and owners? Field a team that everyone will want to see and share the revenues with all the parties, it isn’t like the players aren’t in buisness for themselves anyway with merchindising ,reveanue sharing  and indorsements. any true believer in capitolism or free enterprise would have to agree.

  • Rick Olson

    Even though everyone is blowing their respective hot air about not wanting to pay for a new Vikings stadium; it’s going to have to get done.  I doubt that Gov. Mark Dayton nor most Minnesota legislators will want to be tagged with the blame for losing the Vikings on their watch.  Some how, some way, I think this is going to get done, in order to ensure that the Vikings will remain in Minnesota — right where they belong — for generations to come.

    • Fighting Czech

      Your correct,  Its going to be built whether or not the citizens want it or not.  Thank God we have government making all our decisions for us….

  • Anonymous

    Although I agree in principle about not giving billionairs charity out of our tax money, the truth is that we would spend hundreds of millions more trying to bring in another team after losing the Vikings.  Look at any city that has lost a major team and the construction and spending spree that occurs after as “bait” to bring in a replacement.

  • Fighting Czech

    I agree,  there is a big spending boom after each game, But  does the hardware store get as much business as the bar?  the hotel? What possible benefit is a stadium to him?  what about the regular citizen.   what possible benefit is it to them???  more tax money so the local government  can spend more on  projects the city doesnt need???  because they would never create a project that would provide tax relief..  If you are truly really believe that government can create jobs,  why not build the worlds biggest in door water park? Hospital, or world class gay bath house.    i think that would benefit business in a community more then a football team that plays in a $400,000,000  10 times a year.  Ill never understand the concept of a football team saying they need a new stadium to survive.  Why not just produce a winning team.  people will sit out on old wooden bleachers in the dead of winter,  it the team is worth a crap…..

  • Jimmypop

    the state should not be involved here ONE BIT. the local citizens need to be allowed to vote on this and tax themselves as they see fit.

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