Wild, City of St. Paul announce extension of Xcel Energy Center lease

Xcel Energy Center Photo: KSTP
Xcel Energy Center

April 16, 2019 01:22 PM

The Minnesota Wild and the City of Saint Paul have announced a 10-year lease extension for Xcel Energy Center.

The original lease ran through 2025, with the new lease agreement going through 2035. The new lease agreement already went into effect on April 8.

The St. Paul City Council voted unanimously in favor of the extension.

"We are excited to extend our great partnership with the City of Saint Paul through 2035 to operate Xcel Energy Center," Minnesota WIld owner and chairman Craig Leipold said in a news release. "We take great pride in making sure Xcel Energy Center is a world-class venue for our guests and look forward to creating many more years of memories at the arena."

Xcel Energy Center is home to more than 150 sporting and entertainment events, and more than 1.7 million visitors each year, the release said. It first opened on Sept. 29, 2000, with its first event being a Wild preseason game against the Anaheim Ducks.

With the extended lease, the Wild will continue to pay over 80 percent of all principal and interest payments and be responsbile for capital maintenance to Xcel Energy Center.

"For two decades, the Minnesota Wild has been an incredible partner in driving vitality to downtown, and enriching not only our capital city, but our entire state, St. Paul Mayor Melvin Carter said in the release. "I am thrilled to extend this partnership and ensure the nearly 2 million visitors who join us each year can continue to experience all that Saint Paul has to offer."

The Wild organization also manages the Saint Paul RiverCentre and the Legendary Roy Wilkins Auditorium.

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