With $US750 million in public funding recently approved for a new stadium in Las Vegas, the Oakland Raiders owner, Mark Davis, said he is more than ever determined to send the team to Sin City.
Nevada’s governor, Brian Sandoval, signed off on legislation that diverts the cash from hotel taxes. The tourist-based funding will go to the building of a domed stadium, built to house a pro football team. $750 million is a “down payment” of sorts and private funding will fill in the holes.
Davis, in a meeting with the pink-slip holders of the other 31 National Football League teams, didn’t disclose how he will pay for the team’s relocation – or the privately financed portion of the new arena.
In obtaining commitments for public financing, a step typically coming after private funding is put together, Davis’ movements are picking up steam faster than expected as recently as the North American summer.
“Las Vegas has completed the steps they need to do,” Davis told the owners. “We have to show it to the NFL and get approval [to move].”
Las Vegas has been seen as off-limits to NFL teams for decades. The city’s fixation with sports gambling was though to make game-fixing tempting if not inevitable. Recently the NFL owners have cozied up to the idea of having a team in town. Their reasoning; the city is becoming more of a family entertainment destination.
Roger Godell, the NFL commissioner, believes the owners could be given a formal proposal from the Raiders before Christmas. Meanwhile, the league and the team must complete studies trying to determine if Las Vegas has enough fans and corporate support to keep a team alive.
The football league is also interested in finding out what role Sheldon Adelson, a casino magnate, will have. Adelson has pledged $600 million of his fortune to the project and seems interested in ownership rights – at least a partial segment.
The NFL rules state owners of a team cannot have ties to gambling.
Goodell, along with a few owners, prefers that teams remain in their current market. With Oakland lacking support for a new stadium, Las Vegas became an attractive alternative. A commitment from Nevada’s legislators was icing on the cake.
Libby Schaaf, Oakland’s mayor, states the city is willing to give the team property for a new stadium and provide infrastructure improvements. Schaaf stands firm in her refusal to help pay for a new stadium.
Despite all of the political intrigue, Davis will leave the Raiders in Oakland at least until 2018. “The team has options to play in its current home, the Oakland-Alameda County Coliseum until then,” said a Las Vegas attorney who has been following this story closely.
“Davis acknowledges that seeing a stadium constructed in Las Vegas before the 2019 kickoff may be difficult.”
bigbenusa
Guest
What is sometimes overlooked is the enormous size of the greater Bay Area market. According to the Nielsen DMA rankings, the Bay Area is the nation's sixth-largest market. But the Bay Area is actually much larger than that as the Nielsen DMA rankings only account for traditional core TV household market. The NFL also factor in the secondary market (peripheral) defined using a 75 mile radius to categorize local media market size. Based on the more comprehensive categorization, the top five media markets are: New York LA Bay Area Chicago New England The Bay Area certainly has the economics as it is the third largest metro area in total GDP and on average the wealthiest major metro area in the country. Corp sponsorship potential is also robust. Thanks to Silicon Valley, it has the second most fortune 500 companies based in the area after the NY area. It is one of the very few markets that can accommodate two NFL teams or multiple pro sports franchise. If Oakland can really come up with a viable plan, it would make little sense for the league to leave one the nation's three most attractive market all to the 49ers.
joe
Guest
That owners vote will be interesting there's probably 5 or 6 old school owners who are very anti gambling.There's a group who are all for it those guys (Kraft,Jones,Kroenke) weild a lot of power amongst owners.I can't imagine the NFL wanting to abandon that Bay Area market.With SF now in Santa Clara there is no team physically close to the actual city.If Oakland left they are going from a top 10 market i think #6 overall to the 43rd sized market or something like that. After finally getting a team in the #2 LA market after 20 yrs of trying i doubt the NFL would then be too keen on losing a team from a major market just 3 yrs later.
Mal Webster
Roar Rookie
Would love to see it. I think the Raiders would rather go to LA but Kroenke won't let that happen - Raiders are probably bigger than the Rams in that city. Would be interesting to see if an NFL team could get a foothold in Vegas (NHL is bringing a team to Vegas). Most people seem to have moved pass the gambling thing but always a concern with fixing etc.