AP: Vikings, University of Minnesota reach stadium agreement

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BleedGopher said:
Capital Improvements
Certain improvements to TCF Bank Stadium are necessary for winter stadium operation and to meet specific NFL mandates, including:

Installation of new turf and an appropriate heating element for the playing surface to be determined by Vikings and University officials.
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I'm assuming they'll replace it with the exact same kind of turf? I dont want to see a big Viking logo where the 'M' should be. Like the deal!

Go Gophers!
 

This is slightly off topic, but why the hell are the Vikings playing a "home" game in London this year? Wouldn't it make a lot more sense to do it in 2014 or 15?
 

Eagan said:
TCF Bank must be very happy with the value they will now be receiving for their stadium naming rights deal.
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The Vikings tickets will say Mall of America Field and not TCF Bank.
 

With the heating coils being installed, could we please please please have a grass field now?
 

Does anyone know if Reusse has his, "The U's Stadium is a Dump" column written yet?
 


Breakin' The Plane said:
This is slightly off topic, but why the hell are the Vikings playing a "home" game in London this year? Wouldn't it make a lot more sense to do it in 2014 or 15?
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They probably will those years too. I tweeted to someone at the Strib and that was his thought
 

year of the gopher said:
Aside from the hundreds of evening classes, seminars, and smaller events, etc. that go on literally every Monday-Thursday evening at the U, you're right. The U doesn't want its core business disrupted by the Vikings having a Monday or Thursday night game and I think that's understandable.
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When I saw the weeknight thing, I hadn't even thought about Monday night games for some reason...only Thursday night. That basically eliminates the chance of hosting a primetime game Weeks 1-15, unless its on Sunday Night Football.
 

joshvanklomp said:
When I saw the weeknight thing, I hadn't even thought about Monday night games for some reason...only Thursday night. That basically eliminates the chance of hosting a primetime game Weeks 1-15, unless its on Sunday Night Football.
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Sunday night games will be an option. As will a Monday night labor day game, a Thanksgiving day game (though I'm not sure if they do those except for certain teams) or a late December game since classes are out of session generally by December 20.
 

year of the gopher said:
Sunday night games will be an option. As will a Monday night labor day game, a Thanksgiving day game (though I'm not sure if they do those except for certain teams) or a late December game since classes are out of session generally by December 20.
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That's why I said it eliminates Weeks 1-15, unless its on Sunday Night Football.
 



4four4 said:
The Vikings tickets will say Mall of America Field and not TCF Bank.
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This year, yes.. but for next two years tickets? How can you be sure? I'm 95% positive that the '14 & '15 season tickets/tickets will have 'TCF Bank Stadium' printed on them. MOA only has the naming rights for the Metrodome, through the '13 season.

Breakin' The Plane said:
This is slightly off topic, but why the hell are the Vikings playing a "home" game in London this year? Wouldn't it make a lot more sense to do it in 2014 or 15?
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Yeah, I would. I heard back during the legislation session that the Vikings WILL be getting a home game in London either during the '14 or '15 season as well.. but that could have changed.
 

BleedGopher said:
Capital Improvements
Certain improvements to TCF Bank Stadium are necessary for winter stadium operation and to meet specific NFL mandates, including:

Installation of new turf and an appropriate heating element for the playing surface to be determined by Vikings and University officials.
Installation of heat trace pipe to ensure cold weather plumbing functionality.
Potential installation of additional temporary seating in the western end zone plaza, subject to approval by the University's building code division (number of seats yet to be determined by Vikings and University officials).
Any necessary modification of existing video platform to meet NFL broadcast requirements. Installation of additional insulation in various locations around TCF Bank Stadium.
Build-out of storage space within TCF Bank Stadium.


http://www.gophersports.com/sports/m-footbl/spec-rel/050913aaa.html

Go Gophers!!
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I'm not sure if they mean changes to the electronics or to the physical camera platforms. I've already seen some changes coming for the physical platforms though. I think the NFL has different requirements for camera angles than TCF is currently set up to provide. Some of the proposed stuff should be a benefit to Gopher gameday camera angles as well.
 

Two questions:
Are they going to let the Viking band march down University Ave.?
Will the students show up for the games on time?
 

16FeetUnder said:
I'm not sure if they mean changes to the electronics or to the physical camera platforms. I've already seen some changes coming for the physical platforms though. I think the NFL has different requirements for camera angles than TCF is currently set up to provide. Some of the proposed stuff should be a benefit to Gopher gameday camera angles as well.
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My understanding was the physical platforms, not the video board.
 



imthewalrus said:
Maybe they should pay down some of the debt on TCF BANK STADIUM before anything else...They are putting stress on the State's credit ratings while they still have that bond issue outstanding. Sometimes it is better to pay off what is owed before more money is spent....That credit rating will be further stressed with all the money Prexy K is asking for...and the new Vikings palace needs all the funding the state and local governments can shell out...

; 0 )
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A frequent feature of bonds is prepayment is not allowed. This makes them more marketable. I would be willing to bet the bonds in question carry not prepayment provision; wouldn't make a whole ton of sense to underwrite an issue with such a feature.

Additionally, bonds repaid on a regular basis and backed up by the revenue from a big ten football operation likely aid, not stress, the State's credit. Debt paid on schedule is a good thing for credit ratings manifesting a history of responsibility.

Sometimes it is a terrible idea to pay off what is owed before spending more. For example, when one expects a higher rate of inflation in the future. This allows the state to pay off the bonds with cheaper money thus getting more bang for the buck. One should assume given QE, and the heels of two wars, and record worldwide stimulus that inflation is a likely prospect. Especially, when on can invest the money in a higher returning asset and use those funds as a sinking fund (i.e. invest money dedicated to prepayment in something bearing a higher real rate of return than the bonds).

I'm guessing the financing was set up with all of the above considerations in mind.
 

I see this whole thing as a HUGE plus for Gopher Football. It seems the momentum is really changing at the U.
 

atsgopher said:
I'm guessing the financing was set up with all of the above considerations in mind.
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Nice analysis. I am afraid though wren has never allowed his lack of knowledge and facts get in his way when it comes to giving his opinion, and then giving it again, and the giving it again, etc.:blah:
 

atsgopher said:
A frequent feature of bonds is prepayment is not allowed. This makes them more marketable. I would be willing to bet the bonds in question carry not prepayment provision; wouldn't make a whole ton of sense to underwrite an issue with such a feature.

Additionally, bonds repaid on a regular basis and backed up by the revenue from a big ten football operation likely aid, not stress, the State's credit. Debt paid on schedule is a good thing for credit ratings manifesting a history of responsibility.

Sometimes it is a terrible idea to pay off what is owed before spending more. For example, when one expects a higher rate of inflation in the future. This allows the state to pay off the bonds with cheaper money thus getting more bang for the buck. One should assume given QE, and the heels of two wars, and record worldwide stimulus that inflation is a likely prospect. Especially, when on can invest the money in a higher returning asset and use those funds as a sinking fund (i.e. invest money dedicated to prepayment in something bearing a higher real rate of return than the bonds).

I'm guessing the financing was set up with all of the above considerations in mind.
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These are revenue bonds. In many cases, those type of bonds can be redeemed at any time (but it has to be disclosed on the prospectus). It happens a lot with stadiums and arenas when they are more profitable than expected.
 

If this was to be decided by Teague or Kill here's where somebody surely would say "I'm going to leave it to them. I don't think that a decision like this should be left to Gopher Holers. " Throw in Strib commenters and in this case it sounds about right.
 

One of the terms is "Installation of new turf and an appropriate heating element for the playing surface to be determined by Vikings and University officials." I am assuming the new turf will look like the old one, with our end zones and the big block M at midfield.
 

I am sure the new turf is included in the deal because of the wear and tear on the current turf will increase with the more games being played in it. I am sure it has very little to do with the looks. I am guessing the new turf will be installed so that the logo's needed for both the NCAA and the NFL can be used. Long term it will be a non factor other than the U will get new turf to use and a heated field that they dont currently have. This seems like a win win situation for the University of Minnesota.
 

WolfontheProwl said:
I am sure the new turf is included in the deal because of the wear and tear on the current turf will increase with the more games being played in it. I am sure it has very little to do with the looks. I am guessing the new turf will be installed so that the logo's needed for both the NCAA and the NFL can be used. Long term it will be a non factor other than the U will get new turf to use and a heated field that they dont currently have. This seems like a win win situation for the University of Minnesota.
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That guy that looks like David Hyde Pierce from Fox 9 was out at TCF yesterday and said that the new turf will likely be designed so at least parts of it are removable-he specifically said the end zones are likely to be changed out for Vikings games.
 

WolfontheProwl said:
I am sure the new turf is included in the deal because of the wear and tear on the current turf will increase with the more games being played in it. I am sure it has very little to do with the looks. I am guessing the new turf will be installed so that the logo's needed for both the NCAA and the NFL can be used. Long term it will be a non factor other than the U will get new turf to use and a heated field that they dont currently have. This seems like a win win situation for the University of Minnesota.
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I am pretty sure the new turf is because they have to tear it up to install the heating coils. I am sure they will install the same style turf that will not accommodate NFL logos, unless they plan on replacing the turf again when the Vikings leave.
 

Breakin' The Plane said:
That guy that looks like David Hyde Pierce from Fox 9 was out at TCF yesterday and said that the new turf will likely be designed so at least parts of it are removable-he specifically said the end zones are likely to be changed out for Vikings games.
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If true, that better be what the U wants long-term. If not, the NFL should pay to have the same type of turf we have now put back in when they leave.
 

FreakyDeke said:
I am pretty sure the new turf is because they have to tear it up to install the heating coils. I am sure they will install the same style turf that will not accommodate NFL logos, unless they plan on replacing the turf again when the Vikings leave.
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It was stated somewhere a while back that the field would be replaced again after the Vikes finished playing at TCF. I'm sure that field will be the same as now or to the Gophers specs.

I wonder if the short term field will have Viking logos etc. I don't see why the Vikes would need to have their logos in the endzone. Ad revenue logos I could see. Why pretend it's your stadium when you want the word out you are getting a new one. Besides MINNESOTA works for the Vikings.
 

station19 said:
It was stated somewhere a while back that the field would be replaced again after the Vikes finished playing at TCF. I'm sure that field will be the same as now or to the Gophers specs.

I wonder if the short term field will have Viking logos etc. I don't see why the Vikes would need to have their logos in the endzone. Ad revenue logos I could see. Why pretend it's your stadium when you want the word out you are getting a new one. Besides MINNESOTA works for the Vikings.
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Stop making so much sense, station. You have a reputation to uphold.
 

station19 said:
It was stated somewhere a while back that the field would be replaced again after the Vikes finished playing at TCF. I'm sure that field will be the same as now or to the Gophers specs.

I wonder if the short term field will have Viking logos etc. I don't see why the Vikes would need to have their logos in the endzone. Ad revenue logos I could see. Why pretend it's your stadium when you want the word out you are getting a new one. Besides MINNESOTA works for the Vikings.
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They're not going to stop with the endzones, they'll cover the whole stadium in purple, no doubt.
 

AO54 said:
They're not going to stop with the endzones, they'll cover the whole stadium in purple, no doubt.
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It could be worse! My granddaughter would have it covered in pink.
 

Does anyone else think that $300,000 per game is a pretty good deal for an NFL owner? My intent is not to throw water on this because it benefits both parties and they are both local teams. I just wonder how much TV money per game an NFL team gets, plus ticket sales, plus concessions, merchandise.

So for a $1,000,000,000 stadium like the Vikings will be building, at the cost of $300,000 per game it will take 333,333 game for it "pay for itself". I know that this isn't a truly fair comparison as the Vikings will be getting a lot more revenue on their new stadium and their contribution will be paid for in far fewer games.
 

nokomismod said:
Does anyone else think that $300,000 per game is a pretty good deal for an NFL owner? My intent is not to throw water on this because it benefits both parties and they are both local teams. I just wonder how much TV money per game an NFL team gets, plus ticket sales, plus concessions, merchandise.

So for a $1,000,000,000 stadium like the Vikings will be building, at the cost of $300,000 per game it will take 333,333 game for it "pay for itself". I know that this isn't a truly fair comparison as the Vikings will be getting a lot more revenue on their new stadium and their contribution will be paid for in far fewer games.
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Your math is a little off - not saying your point is wrong but it's more like 3,333 games to "pay for itself" given the figures you stated above
 

e.bigelow said:
Pretty sure it wasn't in the plans to have games that late in the year, so the heating coils were not needed at the time. Nice try though.
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Every time this topic comes up, it's confirmed that I'm the only person who saw ice on the field and players slipping during the Iowa game (2011, I think) and snow bordeing the field vs. Purdue (in October) in 2009. Maybe EG#9 saw that, too.

I don't know if it would've been worth it to have the heating coils installed when the stadium was built, but it's likely to help during college games at some point in many seasons.
 

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