Stadium authority confident about Vikings' owners finances

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September 4, 2013
By: Sarah McKenzie
Sarah McKenzie

Minnesota Sports Facilities Authority Chair Michele Kelm-Helgen issued a statement earlier today indicating the authority has faith in the Vikings' owners ability to pay for their promised portion of the new stadium.

“We have almost all the information, both financial and legal, that we need to finalize the due diligence review,” she said. “While the preliminary update given to the board today shows substantial progress, Dorsey and FTI will have to wait for all of the requested information in order to complete their final report. However, based on the information received to date, we have indications that the Team will have the financial capability to move forward with the stadium project. The report will detail our due diligence process and provide findings to the Authority. We expect this report to be finalized next week and will make this public as soon as we receive it.”

The authority's commissioners met in a closed meeting today to discuss legal issues surrounding the due diligence review. 

The stadium authority recenty hired Dorsey & Whitney's Peter W. Carter to do the due diligence review in light of a New Jersey court ruling finding the Wilf family guilt of fraud and breach of contract, among other things.