A new publicly-owned stadium will be developed in Ramsey County, US, after local officials secured an agreement with the Minnesota Vikings American Football team.

The multi-purpose facility on the site of the former Twin Cities Army Ammunition Plant will feature a retractable roof and is expected to cost around US$884m (£538.6m). Populous are behind the design of the scheme. A further US$173m (£105.4m) is to be invested in on-site infrastructure and other costs, with the Vikings to commit US$407m (£248m) towards the overall cost.

The stadium is scheduled for completion in 2015, and will provide 21,000 parking spaces for tailgating, wider concourses and a Vikings Hall of Fame. It is also anticipated that the stadium will be capable of accommodating events such as Major League Soccer, the NCAA Final Four, college football bowl games and a Super Bowl.

Vikings owner and chair Zygi Wilf said: "Reaching an agreement with Ramsey County as our local partner is a major milestone in our efforts to finalize a long-term stadium solution. "We believe the Ramsey County site offers the most benefits to our fans, the team and the State and is the ideal site for a new stadium.