City and Sport: A Look at How Stadiums Can Be Built Responsibly
The Minnesota Vikings recently reached a tentative agreement on how their new $975 million stadium will be financed. Although the deal is still very preliminary and there are many details to be fleshed out, the StarTribune reports that it will look as such: Under the preliminary deal, the city would contribute $150 million in construction costs to the downtown Minneapolis project. The state would add $398 million, while the Vikings would pay $427 million. The city also would pay approximately $180 million in operating costs over the next 30 years, multiple sources close to the negotiations said. With huge numbers getting thrown around, there are bound to be some questions raised. Why do the Vikings need a stadium that costs nearly a billion dollars? What benefits does the city get to justify spending tax dollars on a stadium? And, most importantly, is this deal fair for the taxpayers, the team, and the city? The reality is that