MINNEAPOLIS - The Minnesota Sports Facilities Authority is reassuring the State of Minnesota and its taxpayers that the owners of the Minnesota Vikings will be able to cover their financial responsibilities when it comes to paying for the team's new football stadium.
On Friday, the MSFA released the results of a detailed due diligence review of the Wilf family's financial and legal status.
The review, conducted by a group headed by Peter Carter of Dorsey & Whitney,considered theNFL owner application due diligence, the New Jersey litigation and other litigation related to the Wilf family; and financial records.
The group also performed background checks on those
involved in the New Jersey lawsuit that resulted in a multi-million dollar settlement against Zygi and Mark Wilf.
"We have reviewed all of the facts concerning the Wilfs financing and litigation and with assurances from the NFL we have addressed the risks we have found. I feel confident moving forward with the construction of the new stadium," Kelm-Helgen stated.
NFL Commissioner roger Goodell also sent a letter to MSFA assuring board members that any future owners will honor the Wilf's lease agreements.
The Minnesota Vikings said in a statement that the "results of the due diligence inquiry are consistent with the team's prior statements on this matter."
They said that the team and the Wilf family have always had the financial ability to meet the private commitments to the stadium project.
"We look forward to continuing our collaborative efforts with the Minnesota Sports Facilities Authority to create thousands of jobs, generate significant economic development and deliver a great stadium for Vikings fans and the people of Minnesota," the teams said in a statement.