An artist’s rendering of the new stadium
The Minnesota Sports Facility Authority hired Dorsey & Whitney attorney Peter Carter to help conduct a due diligence review on behalf of the state of Minnesota and its commitment to a new Minnesota Vikings stadium.
The move comes in response to a recent civil judgment against the Wilf family, the owners of the Vikings, in New Jersey, that found the family guilt of violating state racketeering laws among other charges.
A New Jersey judge ruled last week that brothers Zygi and Mark Wilf and their cousin, Leonard, committed fraud, breach of contract and fiduciary duty
The ruling came in response to a 21 year legal battle. The Wilfs were sued by by partners in a 764-unit apartment complex. Investors accuse the Wilfs of cheating them out of their fair share of revenue from the project. They are seeking more than $50 million in damages.
Today Michele Kelm-Helgen, chair of the MSFA, said the her group is going to investigate what potential impact the New Jersey ruling would have on the Wilfs contribution to the stadium.
Carter has a history of RICO investigations and has done due diligence work for many Fortune 250 companies, Kelm-Helgen said. The Dorsey firm will be joined by FTI Consulting, an international forensic accounting firm.
“We do not expect this to affect the overall project timeline, as progress continues between the Minnesota Vikings and the MSFA, Kelm-Helgen said in a statement.
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