A new stadium is to be developed on the site of Minneapolis' current Metrodome to provide a home for the US city's National Football League (NFL) team, the Minnesota Vikings.

Confirmation of the project came after a deal was struck between the team and officials from both the city of Minneapolis and the State of Minnesota. The venue will be publicly-owned.

The Vikings, combined with other private funding, will provide 44 per cent of the US$975m (£614m, EUR738m), with the state contributing 41 per cent and the city financing the rest.

It is expected the stadium itself will cost US$828m (£521m, EUR627m), with the remainder of the cost relating to on-site infrastructure and relocation. .

The 1.5 million sq ft (139,355sq m) multi-purpose facility will have a seating capacity of up to 65,000, which can be expanded to 72,000 in order to host the Super Bowl.

State governor Mark Dayton said: "The stadium will be owned by the people of Minnesota and managed for their benefit year-round by a public authority."

Minnesota senator Julie Rosen added: "Keeping the Vikings in Minnesota is in the best interests of the state. This will be done without using any general fund dollars that could go to our schools or nursing homes."

The stadium, which will also be able to accommodate Major League Soccer and political conventions, is expected to take three years to build.

Details: www.vikings.com