Medtronic Strikes Naming Rights Deal For Stadium Plaza
Medtronic has struck a deal with the Minnesota Vikings that will include naming the plaza in front of US Bank Stadium as Medtronic Plaza.
Medtronic and the Vikings did not disclose details of the agreement, but noted it would last for 10 years.
The three-acre plaza is nestled by the Downtown East light-rail station between the stadium and the two-block Commons park being built on the east side of downtown.
As much as 85 percent of stadium patrons will enter through the plaza, so Medtronic and the Vikings said they want the space to provide “a place for people to meet and celebrate before and after the games, concerts and events throughout the year.” The space is also expected to serve as a backdrop for the Medtronic Twin Cities Marathon.
The deal puts Medtronic’s name on a piece of local property after a year of criticism lobbed at the company for moving their headquarters—at least on paper—from Fridley to Ireland in what is known as a tax inversion.
“Medtronic was born and raised in Minnesota, and we are so proud to be sponsoring this great new community asset for the Twin Cities and Midwest region,” Medtronic vice president of global communications and corporate marketing, Rob Clark, said in a statement. “Our sponsorship is a symbol of our continued commitment and presence in the state.”