Stadium Blog Post

Pioneer Press
December 23, 2005

The University of Minnesota and TCF Bank said Thursday they will extend a $35 million agreement to name the university's proposed campus football stadium TCF Bank Stadium.

The original agreement, scheduled to expire Dec. 31, will run though June 30, 2006. The extension was necessary because the Minnesota Legislature has not taken action on a bill to finance the state's portion of the stadium's $249 million cost.

In addition to a name on the door, the pact gives TCF exclusive banking arrangements on the Twin Cities campus. The 50,000-seat stadium would be built on a parking area just east of Williams and Mariucci arenas, not far from where Memorial Stadium sat for 68 years. That stadium was demolished after the Gophers began playing in the Metrodome in 1982.

Sixty percent of the financing would come from gifts, corporate sponsorships similar to TCF's and student fees. At last count, $52.5 million had been raised. The governor and legislators need to approve the other 40 percent.

— Aron Kahn

To read the full story visit: http://www.twincities.com/mld/pioneerpress/news/local/13469456.htm