The Minnesota Wild and St. Paul have collaborated for years on funding improvements for the team’s arena and nearby locations. They’ve now developed a concrete plan to achieve this.
On Tuesday morning, the Wild and Mayor Kaohly Her announced a “framework” for a deal aimed at financing renovations at the Grand Casino Arena complex, which would necessitate one-third of the funding from the state.
In addition to being home to the Minnesota Wild and Minnesota Frost, the arena hosts various events throughout the year, such as concerts, Monster Jam, and high school hockey tournaments. Collectively, the three venues accommodate over 400 events annually, draw more than 2.1 million visitors, and generate nearly $400 million in local economic activity, according to the city and the Wild.
Kathy Gosiger, the general manager of Tom Reid’s, expressed enthusiasm, stating, “I think this will bring new life to our city. While it’s a great city, it feels a bit worn right now, and this is exactly what we need.”
Funding Details
The proposed deal involves a total investment of $600 million into the Grand Casino Arena, RiverCentre, and Roy Wilkins Auditorium. The group plans to request $200 million from the Minnesota Legislature, with the city and team each contributing $162.5 million and collaborating on the remaining $75 million. The city’s share would be funded through an extension of a half-cent sales tax.
Out of the total funds, Mayor Her and the Wild indicate that $450 million would be allocated for the Grand Casino Arena, while the remaining $150 million would be divided between the RiverCentre and Roy Wilkins Auditorium. If the plan is approved, the Wild will handle any cost overruns and extend their lease at the arena.
Planned Updates
What are the intended uses for the funding? According to Leipold and Her, the renovations will prioritize modernization over mere cosmetic improvements, although both aspects will be addressed.
