Proposed lease restrictions for UNLV get apology from Oakland Raiders president

Oakland Raiders President Marc Badain apologized Thursday for the public uproar created by a draft lease that would have restricted UNLV’s use of a proposed 65,000-seat domed stadium in Las Vegas.

“There won’t be any issues between us and UNLV over field markings,” Badain told the Las Vegas Stadium Authority board. “I’m sorry that got blown out of proportion.”

The draft lease, submitted Jan. 26, required the Raiders’ approval of the Rebels’ football schedule and could have prevented UNLV from having its own home field markings. “Under no circumstances shall field markings for the [Raiders’] games be diminished or compromised in any way by the presence of collegiate football games of any kind. … The team shall have no obligation to compromise its field markings or field conditions for collegiate games at any time,” the lease said.

UNLV President Len Jessup attended Thursday’s stadium authority meeting with Badain and said he’s not concerned about the language in the draft lease.

“I think Marc Badain was very sincere in his comments, and I’ve been talking with him over the last couple of weeks, so I know there’s a good continued spirit of cooperation between the Raiders’ organization and UNLV and the folks on the Stadium Authority board. So I’ve got no concerns about how this is going to work out in terms of our use of the stadium,” Jessup said.


 

STILL COMMITTED TO MOVING

Badain assured the authority board that his team is still committed to moving to Las Vegas despite the withdrawal from the $1.9 billion project of one of its primary financial backers, the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.

Badain told the board the Raiders have been in contact with several prospective investors, but he didn’t name them in his six-minute presentation.

“A process like this has stops and starts, but you should know that the organization remains fully committed to this project,” Badain told the board. “(Raiders owner) Mark Davis made a commitment to Gov. (Brian) Sandoval and we intend to see that through. We are not deterred, and financing will not be an issue.”

Adelson said the family withdrew from the project because they were “not only excluded from the proposed [lease] agreement; we weren’t even aware of its existence.”

Following the meeting, Authority Board Chairman Steve Hill said he is confident the Raiders will find an investor or a group of investors to fill the $650 million gap left when the Adelsons withdrew from the project Jan. 30.


 

“We’ve heard from a broad variety of people, but it’s the Raiders’ job, it is not our job to develop the private component of the financing,” Hill said. “I know they’re working on it and I appreciate them providing the update. It’s great to hear that he (Badain) is confident that financing will be available, but we’re not a part of those negotiations.”

Hill said he personally has heard from about 10 entities — some more qualified than others — to help finance the stadium. He did not name anyone specifically, but said they included “banks, wealthy individuals and others” that he encouraged to contact the Raiders directly.

The Raiders have committed $500 million toward construction of the stadium. The balance of the project would be funded by $750 million in bonds repaid by Clark County hotel room tax revenue.

UPDATE FOR OWNERS PLANNED

Hill said he, Applied Analysis principal Jeremy Aguero, the Raiders and the stadium authority’s recently appointed legal counsel would work on the proposed stadium lease so the Raiders can give NFL owners an update three weeks before their scheduled March meeting in Phoenix, where a vote on the team’s relocation could occur.

The details of that lease agreement are expected to be presented at the next stadium authority board meeting, scheduled for March 9.

“I’ve been in lots of negotiations and everybody on our board has been in lots of negotiations, and you never really know what the first draft of an agreement is going to look like,” Hill said of the initial response to the proposed lease agreement, which also called for the Raiders to pay $1 per year in rent. “If you’re committed to getting a deal done, you make sure that you don’t get offended, that things don’t bother you.

“Whatever the starting point is, that’s what the starting point is. We are going to make sure that by the time we get to the finish line, it’s right and that it’s good for Nevadans,” he said.

Badain also told the board he attended Wednesday’s international soccer match between Mexico and Iceland to see how officials at Sam Boyd Stadium handled a large crowd.

PLANNING ON SUPER BOWL

Sam Boyd Stadium could host preseason Raiders games or become a temporary home for the team in 2018 and 2019 if the Raiders’ move is approved and the team isn’t received well by the Bay Area during the 2017 season. The new Las Vegas stadium wouldn’t be complete before the 2020 NFL season.

Badain also said he fielded dozens of inquiries from people attending last Sunday’s Super Bowl game in Houston.

“To a person, all they wanted to talk about was bringing the Super Bowl to Las Vegas,” Badain said. “Team owners, team executives, media executives, sponsors, all the people that bring their largest clients for a massive spectacle where they’re throwing parties and entertaining all over the city. They kept saying, ‘We can’t wait to bring the Super Bowl to Las Vegas. We can’t wait to bring all this to Las Vegas.’”

Badain, Hill and Jessup also credited Adelson for starting the effort to bring the NFL to the city.

“We might not be here today had they not been pushing on the project throughout the process,” Jessup said.

The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

Business Videos
Circa aiming for December 2020 opening
The 1.25-million-square-foot property will have 44-stories and 777-rooms. It will also have a separate nine-story, 1,201-space parking garage.
Boxabl official explains the building concept
Boxabl business development manager Galiano Tiramani shows off a room built by his company. (Blake Apgar/Las Vegas Review-Journal)
TI/Mirage Tram reopens
The tram that shuttles guests between TI and Mirage reopened this week after being closed for much of 2018.
Las Vegas Convention Center expansion taking shape
Renderings and actual footage show how the Las Vegas Convention Center is evolving.
Former Starbucks CEO Howard Schultz at Las Vegas convention
Former Starbucks CEO and potential presidential candidate Howard Schultz spoke at the Epicor Insights user conference at Mandalay Bay Convention Center Wednesday, April 17, 2019. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Drew Las Vegas to open in the second quarter of 2022
The 67-story Drew Las Vegas is slated to open in the second quarter of 2022 at the north end of the Las Vegas Strip. (Michael Quine/Las Vegas Review-Journal)
NAB Day 1 (Time Lapse)
NAB kicked off at the Las Vegas Convention Center on Monday, April 8, 2019. (Mat Luschek / Review-Journal)
National Association of Broadcasters Show shows 1mm thick 8K TV with 22.2 channel digital sound
Japan’s NHK Science & Technology Research Laboratories booth featured a 1mm thick 8K TV system used in conjunction with a 22.2 channel digital sound system at the National Association of Broadcasters Show at the Las Vegas Convention Center. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Nevada shoppers react to Smith’s no longer accepting Visa credit cards
On March 1, Smith’s announced that it would no longer be accepting Visa credit cards at any of its 142 supermarkets, including the 45 in Nevada.
Massachusetts Gaming Commission asks how long Wynn executives knew about misconduct
Business reporter Rick Velotta gives an update on the adjudicatory hearing on the suitability of Wynn Resorts to retain its gaming license in Massachusetts.
Henderson app developer part of Startup in Residence
Henderson based developers of the app On Point Barricade are taking part in Startup in Residence, a North America program dedicated to pairing tech companies with governments. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Sam's Town employees and customers talk of their love for the iconic casino
Longtime Sam's Town employees and customers love each other and love their casino. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
Las Vegas apartments rents
Las Vegas’ apartment market has accelerated in recent years. Developers are packing the suburbs with projects, landlords are on a buying spree, and tenants have filled buildings.
William Boyd talks about the birth of Sam's Town
On the eve of the 40th anniversary of Sam's Town, William Boyd, executive chairman of Boyd Gaming and son of hotel namesake Sam Boyd, talks about how the casino became one of the first local properties in Las Vegas. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
High Roller observation wheel turns five
The world’s tallest observation wheel celebrates it’s fifth year on Sunday, March 31, 2019. (Michael Quine/Las Vegas Review-Journal) @Vegas88s
Escape Room Industry Growing In Las Vegas
Escapology employees discuss the growing escape room industry in the U.S. and Las Vegas. (Bailey Schulz/Las Vegas Review-Journal)
Impact of parking fees on visiting the Las Vegas Strip
There are no data showing a relationship between Strip resort and parking fees and the number of out-of-state visitors to Las Vegas. But there are data showing a relationship between Strip parking fees and the number of local visitors to the the Strip. ‘’As a local, I find myself picking hotels I visit for dinner or entertainment, based on whether they charge for parking or not,”’ said David Perisset, the owner of Exotics Racing. ‘’It is not a matter of money, more of principle.’’ A 2018 survey by the Las Vegas Global Economic Alliance found 36.9 percent of Clark County residents reported avoiding parking at Strip casinos that charge for parking. 29.1 percent reported avoiding using any services from a Strip casino that charges for parking.
MGM's sports betting deals
MGM Resorts International signed a sports betting sponsorship agreement with the NBA in July It was the first professional sports league to have official ties with a legal sports betting house. The deal came just two months after the U.S. Supreme Court overturned a law prohibiting sports betting in most states. In October, MGM became the first gaming company to sign a sports betting partnership with the NHL. In November, MGM became the first gaming company to sign a sports betting partnership with the MLB. Financial terms of Tuesday’s deal and earlier partnerships have not been announced.
Faraday puts Las Vegas land on the market
Nearly two years after Faraday Future bailed on its North Las Vegas auto factory, the company has put its land up for sale. (Michael Quine/Las Vegas Review-Journal)
El Cortez owner Kenny Epstein on running the iconic property
Kenny Epstein, owner of the El Cortez Hotel in downtown Las Vegas, talks about Jackie Gaughan mentorship and answers rumors about bodies in the basement at the mob-era casino. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
LVCVA recommends construction of underground people mover
The Las Vegas Convention and Visitors Authority announced the recommendation for an underground people mover for the convention center. The system would have the potential to expand and connect Downtown and the resort corridor all the way to McCarran. (Michael Quine/ Las Vegas Review-Journal)
LVCVA/Boring Company Press Conference
The Las Vegas Convention and Visitors Authority announced a collaboration with Elon Musk's The Boring Company to develop and operate an autonomous people mover system for the Las Vegas Convention Center District.
International Pizza Expo includes green and gluten free
The International Pizza Expo at Las Vegas Convention Center included companies focused on vegan and gluten free, and plant-based pizza boxes. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
International Pizza Expo kicks off in Las Vegas
The first day of the International Pizza Expo at Las Vegas Convention Center is everything Pizza. (K.M. Cannon/Las Vegas Review-Journal) @KMCannonPhoto
T-Mobile program aids guests with sensory needs
A program at T-Mobile Arena is designed to provide a more sensory friendly experience for guests.
Photo Booth Expo
Danielle May talks about how Simple Booth transformed her Volkswagen bus into a business.
Nevada Gaming Commission's highest fines
The highest fines assessed by the Nevada Gaming Commission, according to commission Chairman Tony Alamo: 1) Wynn Resorts Ltd., $20 million, 2019 2) CG Technology (then known as Cantor G&W Holdings), $5.5 million, 2014 3) The Mirage, $5 million ($3 million fine, $2 million compensatory payment), 2003 4) Stardust, $3 million, 1985 5) Santa Fe Station, $2.2 million ($1.5 million fine, $700,000 compensatory payment), 2005 6) Las Vegas Sands, $2 million, 2016 7) CG Technology, $1.75 million, 2018 8) CG Technology, $1.5 million (also $25,000 in escrow for underpaid patrons), 2016 9) Caesars Entertainment, $1.5 million, 2015 10) Imperial Palace, $1.5 million, 1989 11) Peppermill Casinos, $1 million, 2014
Tiny Pipe Home vs Shipping Crate
A Tiny pipe home was displayed at the International Builders Show this week in Las Vegas.
Auto repair shortage affects Las Vegas
The auto repair industry is facing a national shortage of workers.
Franchising industry booming
Experts say Las Vegas is a hotbed for the franchise industry.
TOP NEWS
Home Front Page Footer Listing