With the Oakland Raiders officially OK’d to move to Las Vegas, local economists are now studying the path to a new stadium for signs the Raiders are more than just new entertainment.
Allegiant Stadium
Southern Nevada business and political leaders on Monday cheered the NFL owners’ decision to relocate the Oakland Raiders to Las Vegas, bolstering the city’s status as the nation’s leading entertainment destination.
Now that the National Football League has approved the relocation of the Oakland Raiders franchise to Las Vegas, it’s time to buy those season tickets, right? Wrong.
A pro-Las Vegas vote is anticipated, but owner Mark Davis has been nervous for months regarding the outcome as he waits for his wealthy peer group to decide whether it is in their financial interest to allow the Raiders to move to the desert.
When NFL owners gather in Phoenix beginning Monday, they’re expected to consider a vote to relocate the Oakland Raiders to Las Vegas.
Oakland Raiders president Marc Badain met Wednesday with Clark County commissioner Steve Sisolak and discussed a likely vote next week on the franchise’s relocation bid to Las Vegas.
The stadium for the Raiders, which would be backed by $750 million in taxpayer funds, isn’t the first project to get pitched for the Russell Road and Dean Martin Drive site.
The Las Vegas Convention and Visitors Authority will turn Cashman Center over to the city of Las Vegas earlier than anticipated to focus its efforts and resources on the convention center expansion.
In this ever-advancing storyline of the Raiders relocating to Las Vegas and playing in a 65,000-seat domed stadium, the most significant form of progress occurred earlier this week in Florida.
Local transportation officials on Thursday said the Raiders should help pay for a series of road and highway improvements that would accommodate football fans headed to a proposed $1.9 billion domed stadium in Las Vegas.
It appears it isn’t going to matter that the Oakland Raiders and the Las Vegas Stadium Authority won’t have a lease agreement in place when NFL owners meet in Phoenix at the end of the month to consider relocation of the team to Southern Nevada.
More details of a proposed lease agreement between the Las Vegas Stadium Authority and the Oakland Raiders are expected to emerge Thursday when the 11-member board meets.
When others talk about how some NFL owners still might be nervous about the gambling aspects of Las Vegas or how tickets might sell or the market size, never forget this number: $750 million in tax revenue.
Oakland Raiders president Marc Badain had no comment on whether he has told the NFL that two major financial institutions are prepared to loan hundreds of millions of dollars so the franchise can move ahead with the building of a stadium in Las Vegas.
State officials are moving ahead with freeway improvements that would accommodate a potential stadium for the NFL’s Oakland Raiders and a factory for Faraday Future in North Las Vegas, even though the future of both projects remains in question.
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