Minnesota Wild seek state funding for arena renovations

The Minnesota Wild and officials in St. Paul are pushing for funding to renovate the Xcel Energy Center. The arena, which hosts the Wild and many events, is 25 years old. The proposed upgrades would cost nearly $770 million. Supporters want the state to cover half of the renovation costs, amounting to $394 million. Mayor Melvin Carter and Wild owner Craig Leipold argue the upgrades are vital for the local and state economy. They claim the renovations could boost economic activity by an additional $110 million. Leipold plans to contribute one-third of the total costs, while the city and local partners would fund 20%. However, lawmakers are hesitant about the large request due to concerns about Minnesota's budget, which could face a $6 billion deficit in the coming years. The project was presented to the House Capital Investment Committee, but lawmakers questioned the viability of funding it through state bonds. These bonds would require careful consideration as the state grapples with its budget and many competing needs. Currently, there is no legislative bill detailing how to secure the funding for the project. Still, Carter expressed interest in phasing the renovations in stages if necessary. The city’s priority would be the Xcel Energy Center, followed by the RiverCentre and Roy Wilkins Auditorium. The next state budget is due soon, and discussions about funding continue.