The Star Tribune reported that the owners of the Vikings and Minnesota Gov. Mark Dayton came together Thursday morning to announce to building of a new stadium in the metro area.
The new $975 million stadium deal assumed the football home would be open by 2016.
According to the deal, the Vikings will pay for over 50% of the cost of construction and operating expenses. The state of Minnesota will pay for some of the cost and the city of Minneapolis will chip in on the deal.
Fox News reported that the stadium will be located near the Metrodome. This allows the Vikings to play in the Metrodome while the stadium is being built. If the stadium was at the site of the Metrodone, the Vikings would have likely played at TCF Bank Stadium on the campus of the University of Minnesota.
The Vikings have lagged at the bottom of the league in annual revenue in recent years at the Metrodome, Fox News reported.