Wild, St. Paul ask taxpayers to split bill on $769M Xcel Energy Center complex renovations

(KSTP) – The Minnesota Wild and the city of St. Paul are requesting over $394 million from the state government to fund renovations at the Xcel Energy Center Arena Complex.

The city says Xcel Energy Center has reached the end of its intended 25-year lifespan, and the adjoining St. Paul RiverCentre and Roy Wilkins Auditorium are in need of “significant upgrades.”

According to a press release from the city of St. Paul, the proposed renovation project has an estimated price tag of $769 million, and the city and the Wild are asking state taxpayers to foot the majority of the bill.

They have requested $394.6 million from Minnesota for renovations, while the Wild would provide $215.8 million, and the city would provide the remaining $158.8 million.

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

According to the city of St. Paul, the arena complex is “the economic engine of St. Paul,” generating over $383 million in revenue and hosting nearly 400 events in 2024.

The city claims that an economic impact study conducted by the Wild anticipates local spending would increase by $110 million if the renovations are done.

Wild owner Craig Leipold pitched the plans to the House Capital Investment Committee on Thursday. Lawmakers were hesitant about the upfront cost of covering the renovations, including self-proclaimed Wild ‘super fan,’ Rep. Marj Fogelman (R – Fulda).

“Unfortunately, this is a huge ask for the State of Minnesota, especially with the economy the way it is right now,” she said.

“I’m fairly supportive of what’s going on. How we get to that dollar amount is going to be the challenge,” said Rep. Roger Skraba (R – Ely).

Area Representative María Isa Pérez-Vega (DFL- St. Paul) cited an already high tax rate in the capital city.

“I don’t want to raise taxes for my people, for our people. I don’t want that to be the continuance of how we are going to redevelop the St. Paul that was shining when I was younger,” she said.

The project, according to the city, could begin as soon as 2026 should funding be secured. Additional information on the proposal can be found HERE.