Wilfs' delay in releasing financial data may postpone stadium schedule

  • Article by: Richard Meryhew , Star Tribune
  • Updated: August 27, 2013 - 6:26 AM

State wants to verify team can still meet its obligations.

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logician88Aug. 26, 1310:35 PM

Time to play hardball with the Wilfs. What are they gonna do? Leave? That trial in New Jersey would be big news wherever they tried to go, and nobody else is going to trust them more than Minnesota does. Time to say "take it or leave it" to them. But we do need to get over the fact that they plan to pay for their share with seat licenses. They are a business, and unless a business fails, in the long run ALL it's expenses are ultimately paid with money that comes from customers. That is how it is SUPPOSED to work. The trick is to provide enough value so your customers feel like they are getting their money's worth.

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willie73Aug. 26, 1310:40 PM

I am finding that very few know that Minneapolis total cost for this stadium is expected to be over $650 million over the next 30 years. Minneapolis will pay $150 million upfront. Plus, Mpls will pay at least $7.5 million per year to run the facility. Minneapolis tax money from the convention center won't be available until est. 2020. All these costs above, plus interest, are estimated to cost the city $675 million or $2.25 million PER GAME. That is the cost to Minneapolis, NOT the Minnesota portion. It's, of course, even more sickening that our leaders continue to proceed in the partnership with the Wilf's.

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billybillyAug. 26, 1310:40 PM

Team owners again Monday refused a request to return to the stadium bargaining table. The Sports Commission overseeing construction says team lawyers are now providing partial information about the team owner’s personal finances. But says the team again turned down a request to come back to the table. The Vikings strongly dispute claims that team owners are pressuring the state to end its investigation into their finances. But the chairwoman overseeing new stadium construction said that’s exactly what team owner Mark Wilf told her. And he very clearly stated that they continue to refuse to talk with us about the lease or the financing agreement until we end our due diligence, said Michele Kelm Helgen, of the MN Sports Facilities Authority. -----------Enough already!!! Cancel the deal NOW Minnesota.

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kinnickAug. 26, 1310:42 PM

Why is it so hard to just drop the whole damn project? It has been a farce since day one. Do you really think the NFL is going to let them move to LA? How'd that work out for the Raiders!

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raybeamAug. 26, 1310:44 PM

It's glaringly clear that the public is outraged and wants this proposal scrapped. Any government resources spent now should be directed toward shutting this deal down. Give Ziggy Wilf and the Vikings the keys to the dome and wish them well!

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willie73Aug. 26, 1310:53 PM

“I do not believe I have seen one single financial statement that is true and accurate,” Judge Wilson in the Wilf fraud court case. No further comment necessary.

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RossbergAug. 26, 1311:05 PM

Everyone who reads this article should feel outraged, insulted, and taken advantage of. This kind of stonewalling and deception is nothing more than a lowlife's way of doing business. Obviously the Wilfs' plan is to force us to terminate the audit/investigation. It's easy to see how their court case dragged on for years since this is the same tactic being used - just delay, deny, lie, conceal, and do whatever else it takes to pressure the other party to lose interest in whatever cooperation, documents, and agreements they're pursuing. We'll never get anything concrete from them. Why not? Because the banks, investors, and other backers read the same comments from the judge as we have. Why do you suppose none of them have come forward, even if only to say they may consider putting some money into this venture? Who's going to loan money to people who have a conviction for falsifying financial documents and committing fraud on their partners? All we have to do is ask any bank here if they'd do that. Within a few days I fully expect them to accuse us of damaging their relationship with their investors and bankers because of our probing inquiry and that's causing the financing to become problematic. In other words it'll be all our fault. Despite whatever we may have sunk into this stadium project so far we must immediately terminate it. You can't screw around with people like these in the hopes that everything will turn out all right. They'll just let us keep on putting money into this until we're in too deep to refuse their demands.

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deep2012Aug. 26, 1311:17 PM

This "project" needs to be scrapped. The Vikings position is completely disingenuous. Zygi and Mark clearly knew they had "reneged" on a business deal because Zygi "thought the [plaintiff] got too good a deal." Portraying themselves as the victims now is simply another ruse. In addition, their spokesman Lester Bagley clearly knew about the Wilf's financial mis-dealings, yet, for the sake of what I can only imagine is an enormous salary, has peddled this boondoggle on the people MN. In addition, the refusal. and now the delay of, documents coupled with the NJ case leads me to wonder about whether there isn't some quick-fixing of the books going on (among other things.) The Vikings are acting like addicts with a co-dependent spouse, insisting we trust them "just once more." Enter a 12 step program MSFC and refuse this deal!!

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DufferHAug. 26, 1311:56 PM

Hey you fraudsters: "More" info isn't enough. Produce ALL the data or face the consequences. It's time for the Dayton/Rybak,Mondale/Viking cabal to face the music.

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davholbAug. 27, 1312:16 AM

Bagley said Monday that the team is equally concerned about the construction timeline. But he said the Vikings won’t return to the negotiating table until the authority is certain the team and its owners can meet their financial commitment. He said the audit or “due diligence” work is “having an impact on negotiations” and the team’s “leverage” to negotiate the lease and development deals. He declined to be more specific, but said that if the authority doesn’t “feel 100 percent confident in us, how can we negotiate those agreements? They don’t have confidence that we have the ability to deliver financially. And until that is squared away, there shouldn’t be negotiations on partnership agreements.” Bagley! we "the taxpayers " of Minnesota have been saying this for two years! Two weeks ago, your comment consisted of "we remain confident everything will be approved"! It is getting a little late in the game and "confidence" is dwindling! It don't look good!

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