Posted at: 09/14/2012 7:26 PM
Updated at: 09/15/2012 2:56 PM
By: Nick Winkler
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Email to a FriendLawmaker: Vikes Stadium Deal Worse than Thought for Taxpayers
Rep. Bob Barrett, a Republican from Lindstrom, says personal seat license revenue will likely allow team owners to recoup their investment.
Besides revenue from stadium naming rights and a contribution from the NFL, Barrett says the Wilf brothers will collect revenue from personal seat licenses. Barrett calculates the Wilfs can earn up to $350 million dollars in personal seat license revenue. The calculation is based on figures released by the San Francisco 49ers.
The 49ers are building a new stadium. However, personal seat license revenue in San Francisco will be used to pay the public portion of the $950 million stadium.
In Minnesota, the Wilf's get any money associated personal seat licenses.
Taxpayers will likely never know the exact profit or loss since the Vikings are a private entity and not required to make such disclosures.
