Mark Dayton met with Roger Goodell, who visited Minnesota on Monday, and they discussed the need for a new Vikings Stadium.Dayton expressed conditional support for the project that would be at least partially publicly funded. He stated, "If it's a good deal for the people of Minnesota, I'll support it. If the financial benefits of 8,000 construction jobs, the taxes they pay, the additional revenues from contractors, subcontractors, all of the financial gains to the state of Minnesota exceed the costs, then it's a good deal for the people of Minnesota."
Now, maybe this is just me being an Economics major, but... that means if the profits exceed the costs by only $1, or even $0.01, then Dayton would support the partially publicly funded project. That seems highly inefficient given the opportunity costs (and by costs, I mean benefits) that the Vikings organization could achieve by simply taking out a very large loan from National Football League.
If the Vikings were to foot the entire bill for the new stadium, they would be able to avoid many political figures and outraged tax payers. In addition, they would keep the revenues and have total control of the construction. As a tax payer, I find it hard to rationalize the justification of a multi million dollar, if not billion dollar, new stadium proposal. Public involvement seems to be a huge migraine all around.
Plus, it would be nice to have LA stop breathing down our necks. For that to happen, we need a decision made.
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