Repya: Sell MN controlling interest in Vikes and state could fund stadium

Categories: Politics, Vikings

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Hey, if it worked for the Packers, maybe it'll work for the Vikings. (Oh, wait, didn't we just try that?)

Joe Repya, a longtime Republican now running for governor as an Independent, says he has an answer for the long-running battle over whether the Vikes should get a new stadium funded by taxpayer dollars: Yes, as long as the the state gets a controlling stake in the organization.

On his homepage, he writes:

As your next governor, I would agree to public financing of a new Viking stadium only if Ziggy Wilf and the NFL agree to sell a 51% equity of the Vikings to the State of Minnesota with a never to relocate iron clad clause. Ziggy could run the team as long as he wishes and without state interference. We will increase state revenues by allowing Minnesotans to purchase one share of non-voting, non transferable interests (like the Green Bay Packers "stock" program") in the Minnesota Vikings. If Green Bay can own the Packers, Minnesota can own the Vikings.

Two small points of order:

First, Green Bay doesn't actually own the Packers; fans and investors own the Packers. The team has been publicly owned since 1923, when it was registered as a Wisconsin nonprofit corporation.

Also, while the revenue model seems like a nice idea, we're waiting for Repya to tell us exactly how the state would pay for its equity stake in the first place, given that the Minnesota is already facing a multi-billion dollar shortfall in the coming fiscal year.

Wilf took over as Vikings owner in 2005.


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