The Minnesota Vikings have announced on Friday that they are going to be putting up an additional $13.3 million in contingency funds for the construction of the new stadium. Groundbreaking for the stadium will start on December 3rd, 2013.
Team Vice President Lester Bagley said the move is an attempt to make sure fan amenities and other distinctive features of the stadium are maintained.
The additional money means the team will now put up $41.4 million in contingency funds on top of its $477 million contribution to the $975 million project.
The additional contingency money is funding that could come back to the team if bids come in lower than expected, but because they have been coming in higher, the cost of the project is now $1.016 billion.
The team is also absorbing an additional $15 million that was to have compensated them for the loss of revenue occasioned by having to play for two years at the University of Minnesota’s TCF Bank Stadium.
The Minnesota Sports Facilities Authority is scheduled to approve a guaranteed maximum price for the project at a meeting this morning.