Minnesota Vikings Close to Buying 'Star Tribune' Property

By: E&P Staff The Minnesota Vikings might be the new owners of the Star Tribune's property, including the paper's main building.

The Star Tribune's Mike Kaszuba and Paul Levy reported today that the football team has signed a tentative agreement to purchase four blocks from Avista Capital Partners, the new owner of the paper, for $45 million.

The Star Tribune currently uses the four blocks for parking but the agreement potentially includes a first right of refusal to buy the land that includes the paper's main building.

Kaszuba and Levy wrote that details were "sketchy" and the deal could unravel at any moment.

The Vikings plan to use the land to develop a new football stadium in downtown Minneapolis.

Star Tribune Publisher Par Ridder told his paper he "was not in the position to comment."

The Vikings have had their eye on the property for some time. According to the article, the team approached McClatchy, owner of the Star Tribune until December when the company sold the paper to Avista Capital, about the possibility of purchasing the land.

The paper is going through tough times. In May, Ridder announced the Star Tribune planned to trim 7% of its staff or 145 positions due to three years of declining revenue.


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