Tag: Lester Bagley

Vikings to pay off U.S. Bank Stadium before 2023 season

The Minnesota Vikings’ U.S. Bank Stadium was built in 2016, and was scheduled to be paid off in 2046.

The Minnesota Vikings will soon pay off U.S. Bank Stadium thanks to a new tax bill signed by Minnesota Gov. Tim Walz earlier this week.

According to Rochelle Olson of the Star Tribune, the new bill will retire $377 million in outstanding bonds on the stadium by the end of June, saving taxpayers $226 million in interest.

The Vikings and other private entities paid about $620 million to build the stadium, which opened in 2016. The state of Minnesota and the city of Minneapolis committed about $500 million, according to the Star Tribune.

The new proposal will now wipe any debt off the stadium over 20 years early. The bonds on the stadium had an interest rate of 4.25% and were scheduled to be paid off in 2046.

“[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,” Vikings Vice President Lester Bagley said.”It is a significant accomplishment that the Vikings have been advocating for several years.”

Report: Permanent fence to be built around U.S. Bank Stadium

Gamedays at U.S. Bank Stadium could be forever changed

Having opened in 2016, U.S. Bank Stadium has been one of the best stadiums in the National Football League. The Minnesota Vikings have a 32-17 regular season record in the building that is shaped like a Vikings ship.

The stadium is one of the most revered places in the city of Minneapolis. It even lights up purple at night.

On Thursday, the governing body of the stadium, the Minnesota Sports Facilities Authority, approved moving forward with plans to put a fence around the stadium.

According to an article from local NBC affiliate KARE-11, it is an investment for both fan safety and the safety of the stadium.

“By entering into an agreement for these professional services, the MSFA intends to further explore specific concepts and estimated costs of a permanent secured perimeter,” the MFSA said in a statement. “Goals for the potential perimeter project include enhanced public safety, preservation of public access, and inclusion of public art.”

Lester Bagley who is the Vikings VP of public affairs, says that the fence is an investment in public safety.

“It focuses on the security issue, while not losing the great iconic design, and beauty of U.S. Bank Stadium,” Bagley said.

The installation of a fence was first recommended by homeland security in 2016 and Vikings have supported that idea since then. Finding the plan for the fence will take approximately a year according to Bagely

As far as who is going to pay for the fence? That hasn’t been decided as of yet. Taxpayers paid for $500 million of the project and sticking them with the bill wouldn’t be a great look.

Needless to say, the gameday experience will be forever changed once the fence goes up.