The push for a new on-campus stadium for Golden Gopher football began in the fall of 2000. The university cited poor revenue and lack of a college football atmosphere at the off-campus Hubert H. Humphrey Metrodome as their main reasons for wanting to move back on campus. A plan for a joint Minnesota Vikings/University of Minnesota football stadium was proposed in 2002, but differences over how the stadium would be designed and managed, as well as state budget constraints, led to the plan's failure. In September 2003 a highly publicized attempt was made by T. Denny Sanford to be the lead donor for the project, but in early 2004 the plan fell through when the two parties were unable to come to an agreement on the financial terms. The university unveiled preliminary stadium drawings and a general plan to seek state money and donations in December 2003. On March 24, 2005, the university and TCF Bank announced a deal that would have the bank contribute $35 million towards the project which would give them naming rights. The deal was given an expiration date of December 31, 2005; time enough for the Minnesota Legislature to provide the bulk of funding needed to make the project a reality.

During the remainder of 2005 the university concentrated on drafting a stadium proposal that would draw the support of state politicians. The final plan proposed that the state of Minnesota would contribute 40% of the stadium cost while the university would raise the remaining 60% on its own. Portions of that 60% were to be funded by the TCF naming rights, while the remainder would come from a $50 per semester student fee, private donations, the sale of 2,840 acres (11.5 km2) of university land in rural Dakota County back to the state, and game day parking revenue. Even though the university proposal drew widespread legislative support, the stadium effort suffered a setback when the 2005 legislative session ended before the stadium bill could be heard. Late in 2005 when it became evident that this would happen, the university and TCF Bank announced that it had extended the naming rights deal to June 30, 2006.

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