National Football League (NFL) team Minnesota Vikings will play at US Bank Stadium starting from next season, per a 20-year exclusive naming rights agreement with the banking firm.
US Bank Stadium is a year away from completion and is located on the site of the team’s former home, the Metrodome, in Minneapolis, USA. As such, the Vikings will play one more season at the University of Minnesota’s TCF Bank Stadium, named after a smaller, local rival of US Bank. With corporate headquarters in downtown Minneapolis, US Bank is the USA’s fifth-largest commercial bank.
The private share of construction of the fixed-roof, US$1bn stadium has increased to US$566m, or 53%, through several additional commitments by Vikings owners. They will use a loan from the NFL and revenue from the naming rights and personal seat licenses for ticket buyers, however, toward their contribution.
The Vikings and US Bank also announced a US$1m, multiyear joint investment in places for youth to play across the state. The program will give grants for community facilities such as parks, playgrounds, trails and athletic facilities. For the next several years, US Bank and the Vikings will make grants totalling US$250,000 annually to improve and enhance public venues across the state of Minnesota. Communities can apply for the grants from September 2015, and winners will be selected by the Places to Play advisory committee.
“We are proud to partner with a storied and respected Minnesota institution to introduce both US Bank Stadium and the Places to Play program, both of which will serve as assets for the entire Minnesota community,” Vikings president and co-owner, Mark Wilf, said in a statement.
June 19, 2015