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22 firms vie to underwrite Minn. Vikings stadium

- Associated Press - Thursday, October 10, 2013

ST. PAUL, MINN. (AP) - Twenty-two financial institutions have applied to help underwrite the $498 million taxpayer share of the new Minnesota Vikings stadium.

Minnesota Management and Budget released the list Thursday. It includes some of the nation's most prominent financial institutions, including U.S. Bank, Wells Fargo Securities, Morgan Stanley and Goldman Sachs.

A spokesman says Management and Budget will take a few weeks to select an underwriter. More than one firm could be chosen. John Pollard says no firm date has been set for issuance of the bonds, which will be executed over a period of about two years.

The Vikings organization is responsible for the other roughly $477 million share of the new stadium. Groundbreaking is planned for November, with plans to open the stadium in time for the 2016 season.

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