The University of Minnesota's Board of Regents has approved a preliminary agreement to allow the Minnesota Vikings to play in TCF Bank Stadium.
University of Minnesota Vice President of University Services Kathleen O'Brien said the University has been working with the Vikings for months to craft the deal in a way that benefits both parties.
"The University really views this two ways, one is to contribute to the Vikings staying in Minnesota by having a facility that works for them available," O'Brien said. "Secondly, ensuring that our academic program is not supporting the Vikings financially, that we're actually being covered for all our costs."
The university could earn up to $3 million a season from related concessions, rent and sponsorships. The team will also pay to permanently add some winterizing infrastructure to keep the field from freezing.
University of Minnesota General Counsel Mark Rotenberg said the University's goal was to "be good partners, to cooperate, to help assure that the Vikings could stay in the state of Minnesota, and to protect the University's bottom line and our mission."
Under the nonbinding letter of intent, the Vikings could choose to play in the stadium between one and four seasons.