U.S. Bank Stadium is officially debt free, as of Monday
The stadium named for a bank is officially out of debt.
U.S. Bank Stadium, home to the Minnesota Vikings since it opened in 2016, officially has been bought and paid for.
Via Rochelle Olson of the Minneapolis Star Tribune, the state has used the stadium reserve ($366 million) and $12 million from a general fund to pay off all remaining debt on the building . It happened on Monday.
The Minnesota Legislature opted earlier this year to redirect the funds and to retire the remaining bonds that had been issued to raise the money necessary to build the stadium. The move avoids $226 million in interest payments, and it frees up $150 million in pulltab revenues that had been going to the stadium fund.
As Olson notes, this doesn’t end the taxpayer obligation. Earlier this year, the Legislature agreed to pay $15.7 million for a new perimeter fence to secure the facility. Funding for another $48 million in perimeter fencing has not yet been determined.
Source: NBC Sports
