St. Paul, Wild ask state for $394M to help renovate Xcel Energy Center

Originally posted on Bring Me The News | Last updated Mar 20, 2025 12:44 PM ET

Minnesota Wild owner Craig Leipold and the City of St. Paul are asking the State of Minnesota for almost $400 million in taxpayer money to fund improvements to the Xcel Energy Center.

Earlier this month, the city and the Wild announced a proposal to fund a $769 million renovation to the downtown arena, with Leipold and Mayor Melvin Carter bringing the proposal to a state legislature committee on Thursday, requesting $394.6 million toward the project.

Leipold, whose wealth was estimated at $3.6 billion in 2018, would fund $215.8 million of the project, while the city and local partners would provide the remaining $158.8 million.

The arena, which opened in 2000, requires “significant upgrades to infrastructure and equipment,” according to the announcement. Of the $769 million total cost, $150 million would be used to revamp the Roy Wilkins Auditorium, with $50 million earmarked for the St. Paul RiverCentre.

“A renovated Arena Complex will breathe new life into our city, building on our efforts to attract more world-class events and opportunities for economic growth,” St. Paul Mayor Melvin Carter said in a statement.

“This project will create jobs, bring more people downtown, and strengthen our standing as a premier destination to live, work, recreate and do business."

Proposal comes at uncertain time for state financing

Carter has proposed using bonds repaid by the city’s half-cent sales tax to pay for its portion of the renovation, the Minnesota Star Tribune reports.

The arena hosted almost 400 events in 2024, including concerts, Wild games, Minnesota Frost games and high school athletic tournaments.

In its announcement, the city cited a study conducted by the Wild that found the renovation would add an estimated $110 million in local spending.

But the proposal comes at an uncertain time for public financing. Although the State of Minnesota is projecting a $456 million surplus in the 2026-27 biennium, the longer-term forecast is for a $6 billion deficit by 2029.

There is also the ongoing slashing of federal funding being implemented by President Donald Trump and billionaire Elon Musk, which could have major implications for state finances in the coming years.

What's more, it may not be the only stadium/arena project on the horizon, with the takeover of the Minnesota Timberwolves by Marc Lore and Alex Rodriguez likely to be followed with a new stadium plan, and speculation continuing over potential upgrades or a replacement for the Williams Arena at the University of Minnesota.

This article first appeared on Bring Me The News and was syndicated with permission.

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