The public authority overseeing construction of a new Minnesota Vikings stadium warned Friday that the opening could be delayed if the team doesn't quickly resume negotiations on lease and development agreements.
Minnesota Sports Facilities Authority chairwoman Michele Kelm-Helgen said the team unexpectedly broke off negotiations a day earlier, saying it wanted to wait until a review was completed on its ability to finance its $477 million share of the nearly billion-dollar stadium.
Kelm-Helgen said the agreements need to be in place by Sept. 15 to avoid delays. The project timeline calls for breaking ground on the taxpayer-subsidized stadium on Nov. 7 and completing it ahead of the 2016 football season.
Kelm-Helgen wouldn't identify the major issues separating the two sides on the agreements, calling them ''substantial'' but well within reach. At the authority's regular meeting Friday, she said it was a surprise when the Vikings broke off talks. Delay in those agreements would delay the team's financing and eventually a state bond sale.
I read an article similar to this. They were basically saying that the Vikings wanted to delay negotiations until the Wilfs investigation is over. Remember the Wilfs might be in trouble for tax fraud that's apparently been going on for 20 years. So it was said that Wilf said he would not sign any papers until the results of this investigation is done. The stadium is going to be built but not in 2016 if this delay continues. Which of course means more money will be spent.
This delay, is the Wilfs fault. Everyone else is on board but now they're in trouble for fraud.
Makes me wonder if the Wilfs forced the issue when they did, because they knew this was all coming down. Because if there was a vote now, in an already fickle economy, and after a fraud decision, would have been a no go.
JEC334 wrote:I read an article similar to this. They were basically saying that the Vikings wanted to delay negotiations until the Wilfs investigation is over. Remember the Wilfs might be in trouble for tax fraud that's apparently been going on for 20 years. So it was said that Wilf said he would not sign any papers until the results of this investigation is done. The stadium is going to be built but not in 2016 if this delay continues. Which of course means more money will be spent.
This delay, is the Wilfs fault. Everyone else is on board but now they're in trouble for fraud.
First, there is no tax fraud. This came about because of a 20 year old ongoing civil suit the Wilfs lost a couple of weeks ago. Once the judge finishes reading her 750 page decision, I am sure the Wilfs attorneys will appeal the verdict. The NFL has no problems with the case. The governor came out and said he wanted to investigate the case. The Vikings don't want to deal with them while the investigation is going on. None of this was secret, the case has been public knowledge for 20 years. Now, it seems to be an issue. The Vikings don't want to deal with the same people doing the investigation until it's done.
Think of it this way. Ok, you want to investigate us, fine, we don't want to deal with you until your done. If forces the state to work quickly on the investigation and not drag their feet. The Wilfs have been open about the case and have given the state everything they asked for.
It's really about "Can the Wilfs pay their portion of the deal", and there is nothing in this case that would cause that not to happen.
Vikings fan since Nov. 6, 1966. Annoying Packer fans since Nov. 7, 1966
Raptorman wrote:It's really about "Can the Wilfs pay their portion of the deal", and there is nothing in this case that would cause that not to happen.
That's the main thing, but there's also some "Are these guys crooks, and did they just fleece us?" in there.
Do the majority of Minnesotans want the Vikings to leave? It seems they do. I can't believe we have been talking about this same stadium crap for 15 plus years. No reason the .vikings shouldn't be in a state of the art facility now, and should have been years ago IMO.
Eli wrote:
That's the main thing, but there's also some "Are these guys crooks, and did they just fleece us?" in there.
IF they were crooks, there would have been a legal case, not a civil one. Big difference. 50.00000000001% to prove a civil case. One thing about the case I have not been able to find is how much the partners contributed to the property in question. Or did the Wilfs pay for the whole thing? If you are a partner I would think that you would have to be putting up some money to make it happen. More to this that hasn't been printed. Basically right now it's about how much they have to pay. They should know that next week.
Governor is just CHA.
Vikings fan since Nov. 6, 1966. Annoying Packer fans since Nov. 7, 1966
Raptorman wrote:
The Wilfs have been open about the case and have given the state everything they asked for.
Well, not completely open.
But Peter Carter, the Minneapolis lawyer hired by the stadium authority to review the Wilfs' financial backgrounds, disputed that the Wilfs have been forthcoming about their finances.
''The MSFA, through our attorneys, have made multiple requests for more cooperation from the Wilfs. To date they have refused to provide us with any personal financial information that our advisers need to obtain comfort that the New Jersey court case result will not impact their ability to meet their financial obligations,'' Carter said in a statement released by the authority.
It seems as if the stadium is going to be built regardless. So, that's good news. But all of this back and forth stuff still has me nervous...and maybe more so annoyed. This kind of stuff has been going on for way too long! Just build it!
A relative of Zygi's signs a deal with the two plantiffs. Done deal.
Zygi and co. cook the books because from their view the deal is too good for the plantiffs in spite of there being a signed contract.
I'm under the assumption that the stadium deal is signed. They agreed...if that's the case and the Wylfs have the money, anyone trying to wriggle out of this is SOL, just like the Wylfs regarding the deal they signed with the people who sued them.
The Wilf's are from NJ, this deal was done in NJ correct? Its an everyday occurrence there. I trust their business dealings about as much as their judgment in HC's. I will be very upset, along with a lot of others, if this effects the stadium at all. Just because some of us say it could never happen doesn't make it so.
From what I little I know from project management classes and school .. Anything of this scale of a project is going to
have a team just to do deal with delays, inspections, contracts, and oversights.
I built a 32 bed building imaginary project for wounded veterans to recover and the data input was over 60 hours
for all the sub directories and completions of tasks...
“We’ll get the stadium built,” he said. “I can’t have you mad at me for the next year and a half. As I said, I think it would be extremely unlikely that it’s not [built]. But I’ve learned in this line of work to never rule anything out.”
Vikings Stadium Project Remains On Time And On Budget
Unfortunately what may have been lost throughout today’s news is the substantial progress the MSFA and the Vikings continue to make on this project. Design documents are in their absolute final stages, which means a guaranteed maximum price can be established and groundbreaking can stay on track for late Fall 2013. Also, significant decisions were finalized - yet went nearly unnoticed - during the MSFA board meeting today. Those decisions included the completion of an environmental impact statement, the resolution of a project labor agreement, and the authorization for Mortenson Construction to self-perform the new facility’s concrete work. Each of these represents significant progress on the construction front.
Ultimately, Vikings fans should look beyond the rhetoric. Instead, let’s keep the focus on the fact that this exciting project remains a reality for the state, the city, the Vikings and our fans.
.......WTF is going on out there? 
