Minnesota Vikings: Latest News About Team's New Stadium Plans

After much hand-wringing and nervousness, the Minnesota Vikings look like they will get the new stadium they've been angling for.

Though the proposal still needs approval from the Minneapolis city council and the state legislature, the fact that the state, the city and the team have come to an agreement is a good sign the stadium will be built.

The new stadium, dubbed "People's Stadium," would be built on the eastern portion of the team's current home in the Metrodome, allowing the Vikings to stay put while construction begins. Eventually, the Vikings would have to move to TCF Bank Stadium, home of the University of Minnesota Golden Gophers, but their stay wouldn't be longer than a year.

Most noteworthy about the new stadium is that it will have a fixed, hard-top roof and not the diaphanous Teflon-and-fiberglass bubble currently topping the Metrodome, which collapsed under the weight of heavy snow in December 2010.

The project is expected to cost $975 million, $427 million of which would be contributed by the Vikings plus another $327.1 million in operating costs footed by the team. Another $398 million would come from the state, via the sale of electronic pull-tabs.

Minnesota governor Mark Dayton repeatedly emphasized that no general tax funds would pay for any part of state's obligation on the project. The city of Minneapolis, however, will use a variety of entertainment taxes to pay for their part, expected to be $150 million in up-front costs plus another $188.7 million in operating expenses.

Vikings president Mark Wilf also discussed a city-block-sized plaza on the west side of the new stadium for game-day festivities and a Vikings Hall of Fame.

While there are still hurdles left to be cleared, and thus no set-in-stone time frame for the start of construction, the fact that all parties were able to agree on both the location and cost of a new stadium is a great sign for the Vikings' long-term chances to remain in Minnesota.

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