2014 DRAFT GUIDE
Fine print in Vikings deal leaves little to chance

By BRIAN BAKST - Associated Press
    2013-10-08 01:20

ST. PAUL, Minn. (AP) - Decode the legalese and the 222-page lease agreement binding the Minnesota Vikings to 30 years or more in their soon-to-be-built stadium shows in great detail who calls the shots, who gets to cash in and who can use the place when the football team isn't.

The finer points of the agreement, approved Thursday by the Minnesota Sports Facilities Authority, were overshadowed last week attention to the average $2,500 seat license fee that season ticketholders must pay. Up close, though, the lease leaves little to chance.

---

THE NAME GAME

In professional sports, stadium names are a big-buck enterprise. Department store retailer Target paid many millions for the namesakes of the Twins' and Timberwolves' homes. Xcel Energy Inc. has its name atop the Wild's hockey arena.

The Vikings will have the exclusive right to sell and profit from a pair of naming-rights deals for the new stadium and adjacent fan plaza. The contract disallows any name connected to a tobacco company, firearms firm or political entity, and gives the authority some veto power. Twin Cities-based corporations are considered pre-approved.

---

THE WINDFALL CLAUSE

The stadium is expected to handsomely increase the value of the franchise, so the lease guards against any attempt by owners Mark and Zygi Wilf to cash out quick. If they do unload a majority stake in the team, they'll have to split the profits with the public.

The state of Minnesota and city of Minneapolis are in line for a windfall payment that diminishes over time. If a sale happened before May 2022, the owners would forfeit a quarter of their ``premium,'' defined as the increment above what they paid for the club. The windfall amount drops some over the next decade. If the Wilfs keep the team beyond May 14, 2032, they keep all profits from a sale after that.

---

RENT

While the Vikings score from advertising and concessions revenue on game days, they are on the hook for annual rent. It starts at $8.5 million the year the stadium opens - 2016 is the goal - and climbs 3 percent a year until reaching $20 million in Year 30. Additionally, the team must put $1.5 million into a capital improvement account in Year One; that gradually rises to $3.5 million by the 30th year.

---

AFFORDABLE TICKETS

The Vikings pledged to put 3,250 ``affordable'' tickets out on the market for each game, out of 65,000. What's affordable? That depends on how much other seats cost. In short, affordable tickets can be no more than 80 percent of the average cost in the lowest-priced section, and obstructed view or standing room only tickets can't be factored in.

---

SUPER BOWL

The Vikings must help convince other NFL owners to bring the Super Bowl to Minnesota ``as soon as reasonably practical'' - the earliest it would happen is 2018. Minneapolis last hosted it in 1992.

That's far from the only Super Bowl reference in the pact. If the Vikings were to win a championship, they're assured of having the ``absolute right'' to clear the stadium's schedule to accommodate the NFL's traditional weeknight kickoff of the following season, which features the reigning champion.

---

HOME AWAY FROM HOME

This season, one of the Vikings' eight ``home'' games was in London. The lease gives them to right to play up to six international ``home'' games over the next 30 years without penalty or having to make up for lost revenue. The team will still be on the hook for its full annual rent.

The Vikings can be the visiting team for as many international games as the NFL schedules.

---

TOUR TALK

The authority will operate and keep profits from year-round stadium tour tickets. ``Special access tours'' will include peeks inside the locker rooms and training areas. If the Vikings suspend access to those areas, the authority has recourse, too: It no longer has to end the tours in the team store.

---

STADIUM NO-NOs

For the 350-plus days the Vikings aren't playing, the stadium can be used for a range of events - from rock concerts to fantasy football days to amateur sports competitions to political conventions. But not everything goes: There'll be no events that sell guns, adults-only entertainment and periodicals, pawn-style offerings or head shop paraphernalia.

Fantasy Football Player Notes RSS FeedPLAYER NOTES

Dane FletcherMay 27 02:33a

Free-agent LB Dane Fletcher (Buccaneers) has returned to the New England Patriots on a one-year contract.

Devonta FreemanMay 26 09:53p

Atlanta Falcons RB Devonta Freeman worked with the first-team offense during organized team activities Tuesday, May 26.

Charles SimsMay 26 05:33p

Tampa Bay Buccaneers RB Charles Sims has a solid chance of beating out RB Doug Martin for Tampa Bay's starting running back gig, according to Pat Yasinskas of ESPN.com.

A.J. JenkinsMay 26 01:02p

Free-agent WR A.J. Jenkins (Chiefs) signed an undisclosed deal with the Dallas Cowboys Tuesday, May 26, according to a source. Jenkins was the 30th overall pick by the San [ More ]

Adrian PetersonMay 26 08:43a

Updating an ongoing story, the Dallas Cowboys have moved on from the idea of trading for Minnesota Vikings RB Adrian Peterson, despite persistent rumors, according to The Dallas Morning [ More ]

A.J. McCarronMay 25 10:37p

Cincinnati Bengals QB AJ McCarron (shoulder) is healthy and hoping to push QB Andy Dalton in 2015. 'We wanted him in our building so bad and it happened and [ More ]

Ray McDonaldMay 25 04:42p

Updating previous reports, Chicago Bears DE Ray McDonald has been released Monday, May 25, just hours after being arrested for alleged domestic violence and child endangerment.

Adrian PetersonMay 25 02:42p

Minnesota Vikings RB Adrian Peterson still wants to be traded, according to a source. Peterson intends to skip all organized team activities, which would cause him to lose $250,000 in workout bonuses.

Adrian PetersonMay 24 09:22p

Minnesota Vikings RB Adrian Peterson has informed head coach Mike Zimmer that he will not attend the optional practices that begin Tuesday, May 26, according to a source with knowledge of the situation.

Tom BradyMay 22 04:32p

New England Patriots QB Tom Brady will have the appeal of his four-game suspension heard by commissioner Roger Goodell after the NFL rejected a motion by the NFL Players [ More ]

Tom BradyMay 22 03:32p

New England Patriots QB Tom Brady's appeal of his four-game suspension has not been scheduled at this time.

Ray RiceMay 22 11:42a

Free-agent RB Ray Rice (Ravens) could be a consideration for the Dallas Cowboys in free agency, speculates The Dallas Morning News' Jon Machota. He cites Cowboys owner and general [ More ]

Adrian PetersonMay 22 09:52a

Updating an ongoing story, Minnesota Vikings RB Adrian Peterson remains in pursuit of being traded or receiving a new contract and remains away from the organization during voluntary workouts. [ More ]

William BeattyMay 21 12:02p

Updating previous reports, New York Giants OT William Beatty (chest) underwent successful surgery Thursday, May 21, to repair a torn pectoral muscle. Beatty will need approximately five to six months of recovery time.

Derek CarrMay 20 10:23p

Oakland Raiders QB Derek Carr (finger) will not need surgery on his injured finger and may be able to throw again before the end of offseason workouts, according to his agent.

Joseph RandleMay 20 09:23p

Dallas Cowboys RB Joseph Randle is the most likely option to lead the team's running back by committee approach in 2015. Randle has the most experience in the system, [ More ]

William BeattyMay 20 03:53p

Updating previous reports, New York Giants OT William Beatty's (pectoral) torn pectoral will require surgery and Beatty's recovery time is expected to be around five months. Beatty suffered the [ More ]

William BeattyMay 20 03:33p

Updating a previous report, New York Giants OT William Beatty (shoulder) tore his pectoral while lifting weights Wednesday, May 20, according to a source, and will undergo surgery. One [ More ]

Josh HillMay 20 03:23p

New Orleans Saints TE Josh Hill is slated as the starting tight end this season with TE Jimmy Graham now in Seattle. TE Benjamin Watson could give Hill a run for his money, however.

William BeattyMay 20 03:13p

New York Giants OT William Beatty (shoulder) suffered a potentially serious shoulder injury while lifting weights Wednesday, May 20, according to a source. Surgery is a possibility.

Geno SmithMay 20 03:03p

New York Jets QB Geno Smith is the starting quarterback and will not see competition in training camp, according to offensive coordinator Chan Gailey.

Tom BradyMay 20 03:03p

Updating previous reports, New England Patriots QB Tom Brady's appeal will not be affected by the team's decision to accept their sanctions. Commissioner Roger Goodell said he wants to [ More ]

Matt JonesMay 20 02:15p

Washington Redskins RB Matt Jones said that he loves the offense and has a chip on his shoulder after not being used properly while in college. 'My college career [ More ]

Derek CarrMay 20 08:53a

Updating a previous report, Oakland Raiders QB Derek Carr (finger) is experiencing numbness in his right ring finger. He hopes to avoid surgery through rest and rehab, and no [ More ]

Derek CarrMay 19 06:13p

Oakland Raiders QB Derek Carr (finger) has a right ring finger injury that could be surgically repaired. A return for training camp is still achievable, however, according to a source.

L. WashingtonMay 19 05:23p

Pittsburgh Steelers WR L'Damian Washington (undisclosed) was waived/injured Tuesday, May 19.

Shayne GrahamMay 19 03:03p

New Orleans Saints PK Shayne Graham was released Tuesday, May 19. Subsequently, free-agent WR Lance Lewis (49ers) was signed.

Joseph BarksdaleMay 19 02:23p

Free-agent OT Joseph Barksdale (Rams) will sign a one-year deal worth $350,000 with the San Diego Chargers, according to a source. The deal also comes with more than $1 million in incentives available.

Tom BradyMay 19 01:43p

New England Patriots QB Tom Brady will continue to appeal his four-game suspension, despite owner Robert Kraft saying the team will not appeal the discipline levied against them.

Jed CollinsMay 18 03:32p

Dallas Cowboys FB Jed Collins was released Monday, May 18, and FB Tyler Clutts was re-signed to an undisclosed contract.

Tyler CluttsMay 18 03:32p

Dallas Cowboys FB Jed Collins was released Monday, May 18, and FB Tyler Clutts was re-signed to an undisclosed contract.

Lache SeastrunkMay 18 02:42p

Tennessee Titans RB Lache Seastrunk was released Monday, May 18.

RSS Feeds

NFL News:
 
Player Notes:
 
Forum Posts:
 

© 2015 RealTime Fantasy Sports, Inc.
Email Us  ·  Call Us 636.447.1170  ·  Lost Password
Advertising represented by USA Today Sports Media Group