Minnesota Vikings Must Share the Wealth on Stadium Rights

When was the last time you were able to dictate the terms of a loan?

I ask because I have limited experience—a couple of cars and school, but that's about it. I couldn't say, "I want you to pay more for less from me" for any of them, but maybe someone else has.

There are ways to negotiate terms on loans, but paying lower amounts always comes with penalties.

I'm not sure the Minnesota Vikings have had a lot of loans either, based on their reaction to the alterations to the stadium bill, which finally passed the Minnesota state legislature on Monday, according to the Star Tribune.

Their supporters (and likely the team) didn't like the idea of raising the team's contribution an extra $105 million, which would take the total from $437 million to $532.

Don't get me wrong; that's not pocket change. I don't think it's wholly unreasonable, though.

Nor do I think this statement, from Vikings spokesman Lester Bagley (via the Star Tribune), was necessary:

"That particular amendment is not workable," Vikings spokesman Lester Bagley said. "[But] I don't want to take away from the moment."

Well, sorry, buddy—but you just did.

Also unacceptable ways to "not take away" from a moment:

• Congrats on your engagement; too bad your fiance is going to prison!
• Aw, your new baby, so lucky. Too bad he's ugly.
• Hey, that's a nice car. Brand new? Wow—too bad I just set it on fire.

This isn't up-front money, by the way. The team isn't paying an extra hundred million from the start.

The money would come out of the payment the Vikings would get for stadium naming rights. That's right, folks, the Vikings are upset because they would have to share the naming rights cash.

We all know that NFL teams do not like to share money—right, NFLPA?

That's my biggest issue. Not that they balk at paying more. That they balk at sharing. I agree with Rep. Pat Garofalo, who said in the report: "It's only fair that the public have part of that contribution."

He's right—the public is helping pay for the stadium. It's ludicrous to think it shouldn't get some of the naming rights. It shares the risk in the investment of that stadium.

If the Vikings and NFL want to use their own cash, fine. They can keep all the money. Since they will not do that (either because they are unable or unwilling), then they should share.

Now, before you sharpen your knives or set me on fire, here's a little perspective.

Another stadium that had been going back and forth until recently was the San Francisco 49ers' Santa Clara stadium.

The stadium, an $850 million to $1 billion venture, involves $850 million in loans split between the city of Santa Clara and the team. It only took six years total. 

Here's the interesting thing, and something fans and the team should consider about the new 49ers stadium: When it's done, it's all on the team.

Niners Nation writer David Fucillo put it this way on Twitter:

In other words, while the city helped get the stadium built, once it's open, the Niners are the responsible party. The risk initially is an even split, but once it's done, it's up to the team to make it profitable and make payments. It has a land lease, but other than that, the city is done.

In which case, profits for the stadium should go to the Niners.

(If you want a headache, read the terms of the stadium proposal.)

My point is, though, that the team takes on the responsibility and for a ton more money. While the Vikings might initially pay more up front (and I'm not even certain of that, given that there is more money that needs to be spent in the Santa Clara stadium project), the 49ers are ultimately on the hook for a lot more money and at a larger risk.

Looking at that, is it really so horrible to give up naming rights money to make this deal go through when you're not even the only one at risk? And when you're using public funds?

I'm not saying there shouldn't be pushback—negotiations always have pushback. Just that this shouldn't kill the deal—a very fair deal at this point.

The team is already sharing the risk; it should share the wealth as well.

Update:

The Minnesota state Senate has increased the Vikings' contribution by only $25 million, according to Pro Football Talk. 

On the one hand, this is awesome. It's got to be the tipping point here, and unless someone cries foul at the difference between the legislature's and Senate's amounts, I can't see why this would fail.

That said, I can't wrap my head around the discrepancy. How do you go from $105 million to $25? What's the math I am missing? And why?

I would imagine that all will make sense (or be revealed—making sense might be too much to ask) in the next 24-48 hours.

Until then, this looks really good.