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Bleacher Report – Vikings

Vikings stadium hits snags, but team remains 'on time and on budget'

The Vikings issued a statement today on the team’s website to reassure fans that construction on the team’s new stadium continues to move forward.

The team has paused negotiations on the lease agreement and the project’s development agreement for the new stadium, set to open in July 2016.

Here’s an excerpt from the post, written by Jeff Anderson, Vikings director of corporate communication:

“The Vikings decision to hit “pause” on negotiations comes on the heels of the Authority’s inquiry into Vikings Owners Zygi and Mark Wilf’s financial background following a New Jersey judge’s recent comments on the well-documented private business dispute between the Wilfs and another international real estate family. The team and the Wilfs immediately stated that no matter the outcome of the dispute…the decision will bear absolutely no impact on the Wilfs’ ability to guarantee and deliver $477 million in private financing toward the stadium project.”

It’s not the first snag the public-private-funded $975 million stadium has encountered, but Lester Bagley, VP of Stadium Development, chraacterized it as a ‘bump in the road’ while on 1500ESPN’s Judd & Dubay morning show Friday.

by Derek Wetmore

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