The Vikings have agreed to increase their contribution by $49 million for the new football stadium.
The Minnesota Sports Facilities Authority approved the revised budget Friday. The Vikings contribution now stands at $426 million with taxpayers contributing $498 million for the roughly $1 billion project.
The increased funding will help stadium planners deal with some budget challenges.
"The Vikings have made a significant contribution to the stadium budget which allows us to maintain the original design to ensure the building is the most iconic, world-class stadium in the country and perhaps the world," said MSFA Chair Michelle Kelm-Helgen. "We appreciate the team stepping up to make this significant contribution, [which] was instrumental in helping to solve our budget gap."
The MSFA has also approved a 10-year contract with SMG for marketing and management services for the new stadium. The Philadelphia-based corporation manages more than 200 facilities across the globe, including four NFL stadiums — Soldier Filed in Chicago, Mercedes Benz Superdome in New Orleans, NRG Stadium in Houston and Everbank Field in Jacksonville, Fla.
"SMG facilities have hosted nine Super Bowls over the years. Their experience will be a fantastic asset as we prepare for Super Bowl LII in 2018, and other large-scale events we are competing to host," Kelm-Helgen said.
Construction of the new stadium is about 11.6 percent complete, according to the MSFA. The venue is on track to open in time for the 2016 NFL season. For a web cam of the construction site, click here.