by Duluth News Tribune
May 10, 2012 at 7:00 pm in Duluth News Tribune
ST. PAUL The Minnesota Vikings and their fans have something to cheer about.
Tags: Business, Football, Minnesota, money, Politics, Vikings 11 Comments »
Hopefully the Vikings will have a competetive team when the stadium is finally built. I expect them to have a new coach by then.
Like or Dislike: 13 5
Yes, we can expect a new stadium to make the Vikings a better team just as building two other unnecessary stadiums for the Gophers and Twins have made them champions.
Like or Dislike: 10 6
I wonder if most of the opponents of this stadium on these message boards cried just a little when they heard the news. It’ll be expensive but this is the one luxury cost that is going to pay for itself in the long run just like the Metrodome has. Good for the Vikings and good for Minnesota. And this from a non-Vikings fan.
Like or Dislike: 15 13
People really can’t complain about the cost anyway. Unless you choose to gamble and play lottery games, it’s really not going to cost you anything.
And you’re right, it certainly will have a lot of long-term advantages. Besides creating hundreds of construction jobs for nearly two years, it will be a place that will attract a lot of people to different events and get them spending. Target Field has done marvels for restaurants and bars in the area, and there’s no reason to expect this stadium wouldn’t do the same.
Like or Dislike: 12 10
Do you have any proof that Target Field has done “marvels for the restaurants and bars in the area.”
Like or Dislike: 9 9
Just imagine how many education positions, police positions, or other things that would benefit the general public could be accomplished with this increased revenue that’s “not going to cost the regular person anything.” Really? What happens if the economy gets tougher and the gambling doesn’t fund it, where do you think the $$$ is going to come from??? It’s obscene when a fricking football team (a private entity) gets hundreds of millions of dollars like this….
Like or Dislike: 12 16
See, that is the thing. You will have a very hard time passing legislation which uses gambling to fund education and public works. So you pass legislation which will use gambling to fund an entertainment venue, then you use the tax dollars generated by this venue to fund education and public works.
This stadium has a multi-tiered funding mechanism. If gambling does not support it, then they will use other sources of funding. This funding will not come out of the pockets of educators and public workers.
In fact, that argument doesn’t hold a lot of weight as the stadium will end up repaying at least 70-80% of the cost over the course of it’s lifespan(if not more). You cannot say the same for Education and Public works. Not to say they are not important, just that you can have a stadium and still direct revenue gained from said stadium to education and public works and not have much of a loss.
Like or Dislike: 10 7
I cannot even fathom formulating the thought that it makes more economic sense for the state to fund a new pro-sports stadium than it does for them to fund education. I could not disagee more!
Education is the very core basis of a prosperous society. No education, very poor job prospects. Good education offers a hugely better chance for a living wage job or much better even. Wage earners/business profits pay most of the taxes to the state. Most of them only made possible by an educated populace.
Our return on investment in educating our citizens is immensly larger than a stadium will ever produce in our wildest dreams.
Like or Dislike: 10 11
There is one reason the vikings asked for state funding, because there is no profit to be made from a stadium. If there was the vikings would be doing this all on there own.
Like or Dislike: 9 10
You are right trying… There is no profit to be made from the stadium for the owners. They make their profit from the TV ad revenue and ticket sales.
But they do not see a penny of the taxes collected for tv ad revenue, ticket, merchandise, food, beverages and employee/player salaries. But the state and county does.
Which is why the State and County joined in with the Vikings in a joint investment. The team will have a stadium to play in, and the state/county has an endeavor which brings in millions of dollars in tax revenue every year.
Like or Dislike: 12 5
Well, the latest story is that Ziggy and company are looking at paying for a retractible roof for the thing. And looking at using the new stadium for soccer as well as NFL football. Makes me think of the way the Pohlads kicked in extra $ for all the extras at Target Field.
Like or Dislike: 9 2
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