Vikings value takes a leap

The Minnesota Vikings still aren’t in the elite neighborhood, but the latest Forbes valuation of NFL football franchises puts them worth $975 million. Up until recently, Forbes listed the value at $796 million.

Why the big increase? It’s simple math, according to Forbes:

The Vikings are getting a new $975 million stadium that will be financed with $477 million from the team and NFL, $348 million from the state and $150 million from the city of Minneapolis. The annual operating expenses and capital costs are estimated to be $20.5 million a year, of which the Vikings will cover $13 million and the city $7.5 million. The Vikings will retain all revenues derived from NFL game-day operations of the stadium and parking facilities, and a third-party operator will keep all revenues from ancillary events. The team, currently near the bottom of the NFL in stadium revenue, could generate an additional $40 million a year from the new stadium.

If Zygi Wilf sells the team, that’s a big payday. He paid $600 million for the team seven years ago and the team would have increased in value more than 60 percent in that time (By contrast, the Packers have increased in value by only 33 percent).

On the other hand, the economy has taken its toll. Before the economic collapse, the team was valued at $839 million.