Minnesota State Senator Rich Draheim (R-Madison Lake) today announced a bill that will redirect the state’s Vikings stadium to fund youth sports facilities once the stadium is paid off.  The stadium reserve account and state general fund budget are both in a healthy enough position that would allow stadium debt to be paid off early.

“This is the right thing to do,” Draheim said. “We know there are a lot of youth sports programs around the state that badly need facilities improvements. We already paid for the billionaire’s fancy stadium; now let’s pay for ballparks, fields, and arenas for kids around the state.”

Senator Draheim’s bill upholds the original intent of the stadium reserve account: to pay for Minnesota sports facilities. With the early payoff of Vikings’ stadium debt, the bill allocates the remaining funds to support various youth sports facilities throughout the state. 

The funding breakdown is as follows:

• 65% of the funds will be allocated to the Minnesota Amateur Sports Commission, divided equally among congressional districts
• 20% will be provided to Minnesota State Colleges
• 10% will be granted to the University of Minnesota
• 5% will be left in the account for emergencies

Minnesota State colleges and universities, as well as the University of Minnesota, must use the allocated grants for multiple-use purpose facilities that include the general public, in addition to their educational uses. The Amateur Sports Commission will report to the legislature on the grants it has awarded to ensure transparency and accountability in the process.The February revenue forecast issued by the office of Management and Budget  projected the stadium reserve account would end the biennium with a balance of $366 million and accrue a balance of $678 million balance by 2026. The cost to pay off the stadium debt entirely is approximately $377 million. The stadium reserve account is expected to reach $1.021 billion by 2027.