$675 million fan-friendly stadium to anchor community development project in Blaine

BLAINE, Minn., Sept. 20, 2005 -- Anoka County and the Minnesota Vikings today announced an agreement on a new development project in Blaine, Minn., that will be anchored by a $675 million, 68,000-seat retractable roof stadium.

The stadium will be the center point of a broader, mixed-use development that is projected to feature a unique mix of retail shops, office buildings, private residences and nature preserves. The development will be located just off of I-35W in Blaine, 15 minutes north of both Minneapolis and St. Paul.

"We are taking a bold step toward achieving something very special for Anoka County and the entire state of Minnesota," said Margaret Langfeld, chair, Anoka County Board. "This partnership is one of the most significant development projects in state history, and it will bring unparalleled economic opportunity to Anoka County while taking the legacy of Vikings football to a new level."

The stadium complex will be publicly owned by a stadium authority to be established by the Minnesota Legislature. The Vikings will operate the stadium complex and sign a 30-year lease, with a no-escape clause. The team will have an option to extend the lease for two 10-year periods beyond the initial term. The Vikings will receive the revenue generated by the stadium and make an annual payment to the county. Details of that payment will be negotiated as part of the lease agreement. The stadium is projected to open in 2009 or 2010, depending on when the Legislature acts on this proposal. The Vikings will honor any remaining lease obligations on the Metrodome, should the team move out early.

Vikings chairman and owner Zygi Wilf is drafting a proposal to develop the remaining property surrounding the stadium.

"This is a tremendous opportunity for the Minnesota Vikings and the state of Minnesota. We're fortunate to have a partner that has demonstrated both the vision and leadership to make this possible," said Wilf. "We look forward to working with Anoka County and the city of Blaine to create a world-class venue that will make Minnesotans and Vikings fans proud. This stadium will provide our fans with the exciting and memorable game-day experience they deserve and have been wanting for years."