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Vikings Stadium Update: Team Could Receive $200 Million In NFL Loans

On Wednesday, NFL officials met outside of Dallas to discuss the return of its G-3 funding program for potential new stadiums or stadium upgrades. The program was around until 2006, when it ran out after helping finance renovations to Arrowhead Stadium. League officials decided to bring back the program, or something very similar, and it's likely that the Minnesota Vikings will be the first to benefit from the program.

Note that these funds are, in fact, loans. They are not gifts from the NFL, and are expected to be paid back. Under the old program, teams paid back in various ways, the most prominent of which were fees from visiting fans at the new stadium and personal seat licenses. These will be the most prominent. It actually seems like the league is relying more heavily on the PSLs, which would mean if the Vikings couldn't sell enough to pay back the loan, the debt would go directly to the team to pay back.

According to the Pioneer Press, the new loans could provide the Vikings with up to $200 million to invest in the proposed $1.1 billion stadium project in Arden Hills. $50 million of that would be in the form of a grant if the team qualifies, while the other $150 million would be the aforementioned loans that would need to be paid back.

It's a good start and good news for the team, but it doesn't seem to speed up the process much at all, as the infusion of cash doesn't actually stack on top of the initial private contribution already coming from Zygi Wilf and the Minnesota Vikings, which is somewhere between $407 million and $425 million. Those figures were already factoring in potential loans from the NFL, so this helps the team, but doesn't alleviate the $650 million that Ramsey County and the state need to finance on their own.

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