Minnesota Gov. Mark Dayton on Monday signed legislation providing public funding for a new $975 million stadium for the National Football League’s Minnesota Vikings.
The Minneapolis City Council still must approve the plan. State lawmakers approved the package last week.
The deal calls for the Vikings to contribute $477 million towards the stadium. The state would cover $348 million and Minneapolis $150 million.
The 65,000-seat sports facility, which was recently given a new roof, would be built adjacent to the Vikings’ home since 1982, the Hubert H. Humphrey Metrodome in Minneapolis. The team would sign a 30-year lease and retain naming rights.
The legislation authorizes the issuance of up to $498 million of state appropriation bonds to cover the city and state share of the costs.
