U.S. Bank Stadium renegotiates terms with facilty management

U.S. Bank Stadium renegotiates terms with facilty management firm due to COVID shutdown


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U.S. Bank Stadium on Thursday gave a multimillion-dollar break to ASM Global, the company that manages the stadium, in exchange for a longer-term commitment with no option to end the agreement.
The agreement negotiated by Michael Vekich, chairman of the Minnesota Sports Facilities Authority (MSFA), and approved by the MSFA board without debate, gives ASM five extra years to pay less money than under the previous contract, which ran through 2026.
Since the stadium opened in 2016, ASM has made annual guaranteed payments to the stadium authority for the exclusive right to book and operate the building. But after COVID-19 shutdown stadium shows across the country more than a year ago, ASM came to the MSFA seeking help.

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