Raiders' plan to move to Las Vegas takes another positive step
The dream of “Las Vegas Raiders” is still alive.
The Southern Nevada Tourism Infrastructure Committee voted unanimously to use $750 million in public funds to help fund a new stadium for the Raiders, according to CBS8 and many media outlets. The Raiders and Sheldon Adelson, who is the CEO of the Las Vegas Sands Corporation, would also help fund the proposed $1.9 billion stadium. As part of Thursday’s vote, there is no percentage cap on public contribution. The oversight committee was deciding Thursday whether to cap the public contributions at 39 percent of the project’s cost.
The plan still needs approval from the governor and state legislature, the Associated Press reported. The San Jose Mercury News said the proposal now goes to Gov. Brian Sandoval, and he will decide whether to set a session of the legislature to finalize the deal. After that, the developers could go to the NFL to propose a move. NFL owners would still need to vote on relocation.
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The $750 million in public funds, which would come through a hotel tax, would be a record for public contribution to a sports stadium. The Raiders haven’t had any luck getting a new stadium in Oakland, so they have met with cities like Las Vegas and San Antonio to figure out their options. The Raiders have maintained for the past few months that Las Vegas is where they would like to move.
On Thursday, that dream took another step toward becoming a reality.
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Frank Schwab is the editor of Shutdown Corner on Yahoo Sports. Have a tip? Email him at shutdown.corner@yahoo.com or follow him on Twitter!
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