September 5, 2012 by Sarah M
By Nick Halter
Thanks to a heavily subsidized new stadium, the Minnesota Vikings are now worth $975 million, 22 percent more than last year, when the team was valued at $796 million, according to Forbes.com.
That means the team has increased in value by $179 million in 12 months, despite suffering a 3-13 record last season.
According to Forbes, the team turns an annual profit of $7.2 million, but the magazine predicts that a new stadium could increase revenue by $40 million a year.
Last year, the Vikings were ranked by Forbes as the 28th most valuable franchise of the 32 NFL teams. Now the Vikings are ranked the 22nd most valuable team.
The new stadium will cost $975 million. Of that, the team is paying $477 million, the state is paying $348 million and the city is paying $150 million. Plus, the city will chip in another $189 million to operate the facility for the next 30 years.
Stadium construction will begin following the 2012-2013 season and is expected to finish in 2016.