The actual work on the stadium doesn't start until next summer, but the university is busy working on designs and fundraising for the estimated $249 million structure.
The new stadium will go across from Mariuchi Arena now occupied mainly by a parking lot.
University President Robert Bruininks says bringing football back to campus is an important bridge to the public.
"It supports the university's mission by linking students, fans, fellow Minnesotans to its campus--the wealth of knowledge and learning that is contained and disseminated here at the University of Minnesota. And I see the stadium as being a wonderful gathering place for the citizens of our state and the friends of the University of Minnesota," Bruininks said.
The new stadium is scheduled to open September 12, 2009.