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Vikings Stadium Update: NFL Voting Wednesday On Loans For New Stadium

The Minnesota Vikings are exploring multiple avenues in regards to funding a potential new football stadium. On Wednesday, according to the Pioneer Press, the NFL is set to hold a meeting between the league's 32 owners to discuss renewing a loan program which has helped team's build their stadiums in the past. The "G-3 program" has contributed $1.1 billion in low-interest loans for its owners to complete 12 stadium reneovations or constructions since 1999. It's technically a loan, but the way it's paid back is unique: the team is allowed to keep the visitor's share of club seat revenue, and use those funds to pay back the loan.

On Wednesday night, the league is set to take a vote on whether or not it will make a return and potentially contribute some funds to the $407 million that Vikings owner Zygi Wilf has already pledged toward the new stadium. That in itself is one of the largest private contributions toward an NFL stadium in the league's history.

It's worth noting that the money from the program wouldn't stack neatly on top of the $407 million. That number could go up, but it would likely only be slightly. If, say, the program matched the $150 million that went toward the new Dallas Cowboys stadium, then it would just be $150 million less that Wilf has to contribute, as it would go into the team's portion of the funding. So while it might sweeten the pot a little bit for the city and the state, it may not have a significant effect on pushing the proceedings along.

The program made its last contribution in 2006 when the Chiefs financed a near-$400 million renovation of Arrowhead Stadium. If the framework is the same for this plan as it was for the old, then the $407 million contribution from the Vikings could be eligible for $138 million in NFL loans, according to the piece.

Photographs by Micah Taylor, clairity, and Fibonacci Blue used in background montage under Creative Commons. Thank you.