St. Paul, MN - After a long day of private meetings behind closed doors at the State Capitol, the Stadium Bill Conference Committee has adjourned and the final version of the bill has been presented.
Representatives from the Minnesota Vikings and the appointed members from the House and Senate spent almost the entire day wheeling and dealing with the differing amendments, seeking acceptable language that was agreed upon by all parties involved. When the final bill surfaced at 9pm Wednesday night, it was vastly different from the original bill that was presented Monday and Tuesday to the House and Senate floors.
One of the main points of contention coming from the final bill will be the funding. In this new form the Vikings will contribute $477M to the total cost while the State & City will pitch in $498M. The team would also get the naming rights and have rights to bring in an MLS soccer team during the first five years of the lease.
Also making it's way onto the final bill is the aptly dubbed "Clawback" provision which would protect the public's investment should the owners choose to sell the team. The provision calls for Vikings to pay back public 25% of profit on sale of the team if it happens in first 10 years of lease, 15% years 11-15; 10% years 16-20.
Read more at KFAN.com. Photo credit: AJ Mansour.