Skip to main content

Banks team up on bonds for stadium construction


The Minnesota Office of Management and Budget has notified eight banks that they have been selected to underwrite bonds that will be used to to finance construction of the new Vikings stadium.

The Associated Press reports the banks were selected from a group of 22 financial institutions that submitted proposals to underwrite the hundreds of millions of dollars in bonds. RBC Capital Markets will take the lead role, with J.P. Morgan, Wells Fargo Securities and five other firms getting a share of the transaction.

The bonds will be sold during the two-year construction phase. Bonds are loans that allow the financial institutions to pay the city and state shares of the stadium costs. The city and state agree to pay the banks back with interest.

The taxpayer share of the stadium is $498 million. The team is on the hook for rounding up the remaining $477 million.

Groundbreaking on the new stadium is expected in October, with the new facility expected to be completed in downtown Minneapolis in time for the 2016 season.

Next Up

Eric Kendricks

Vikings downgrade Eric Kendricks to out against Lions

The Vikings have also activated Michael Pierce from injured reserve.

u.s. attorney

Minnesotan sentenced after assaulting man with baseball bat

Marshall Wayne Boshey was sentenced to 30 months in prison followed by two years of supervised release.

Target store

Target's gift card discount is back, but for this weekend only

The fine print: for Target Circle members only (but membership is free).

Screen Shot 2020-06-15 at 7.11.05 AM

Minneapolis teen arrested in St. Cloud after fleeing police in stolen vehicle

The vehicle was stolen in a car-jacking in Minneapolis Thursday.

snow, blowing snow

Winter storm warnings issued with heavy snow set to slam MN

Parts of northern Minnesota could see more than a foot of snow, but there won't be much in the Twin Cities.

D'Angelo Russell

With KAT out, Timberwolves can't upset Nets

D'Angelo Russell stepped up but couldn't overcome Brooklyn's firepower.

Everson Griffen Vikings dot com

Everson Griffen confirms he has bipolar disorder

"I’ve been running from it a long time. I’m not ashamed of it anymore.”

Angela Renee Jones, St. Cloud murder suspect

St. Cloud suspect now charged in two local murder cases

Both murders happened within a day of each other in June.

st anthony 3 crop

Twin Cities police ask for help finding missing 16-year-old

Police say all her family and friends have been contacted, and none of them know where she is.

mpd suspect 12.3.21 - 1 - CROP

MPD releases photos of shooting suspect, asks for public's help

The man is wanted in connection with a fatal shooting that happened Wednesday evening.