Posted at: 05/07/2014 8:23 PM
By: STEVE KARNOWSKI
MINNEAPOLIS (AP) - Organizers of Minnesota's bid for the 2018 Super Bowl say the local corporate community will cover most of the costs.
US Bank CEO Richard Davis co-chairs the bid committee. He says local corporations pledged enough to cover 75 percent of the estimated $30 million to $40 million in costs just within the first seven days of the drive.
But the co-chairs gave few details about their proposal to NFL owners, saying they don't want to give anything away to Indianapolis and New Orleans, the other cities competing for the game.
They say their proposal includes rebates that will be a fraction of the extra tax revenue the state would collect.
Organizers will make their presentation to team owners May 20, and will learn that day whether they got the bid.
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