Minnesota Wild Scales Back Arena Renovation Proposal Amid Financial Struggles

ST. PAUL, Minn. — The Minnesota Wild and the City of St. Paul have revised their proposal for renovating the Xcel Energy Center, reducing the estimated cost from $769 million to $488 million. This significant cut comes as the state faces a projected budget deficit of $6 billion for the upcoming biennium.

The revised proposal focuses mainly on improvements to the arena that is the home of the Minnesota Wild. Plans for renovations to the St. Paul River Centre and the Roy Wilkins Auditorium will be put on hold.

City officials, along with the Wild, are now seeking $50 million from the state, with the city and local partners contributing $200 million. The remaining $238 million, along with any cost overruns, would be covered by the Wild.

In their original request, the Wild had asked the state to fund half of the $769 million proposal. However, state leaders’ lukewarm response to the initial plan led to the need for a more economical approach.

Mayor Melvin Carter expressed optimism about the potential job creation and economic growth this project could bring, stating, “This project will create hundreds of jobs and generate millions in economic growth, while securing this publicly owned tourist destination for decades to come.” He emphasized the need for public infrastructure investment in light of current financial realities.

The revised proposal aims to enhance the downtown entertainment district and improve the experience for both players and fans attending games while catering to the financial constraints of the state.

Craig Leipold, owner of the Wild, referred to the Xcel Energy Center as “the economic engine of downtown St. Paul” and reaffirmed the team’s commitment to the city. The arena draws about 2 million visitors annually and hosted 400 events in 2024, covering everything from hockey games to graduations.

Since its opening in 2000, the Xcel Energy Center has reached the end of its projected 25-year lifespan. The renovation plans include not only new seating but also updates to the arena’s HVAC system, new street-level bars and restaurants, and enhanced security features.