Raiders selling cheapest personal seat licenses for Las Vegas stadium

The Raiders have begun sales on the final tier of personal seat licenses in the Las Vegas stadium.

The third phase of PSL sales — the least expensive in the building with a range of between $500 and $3,900 per seat — are mostly in the highest levels of the stadium.

Holding a personal seat license, a one-time expense good for 30 years that also gives their owners early access to some other events staged in the stadium, is a requirement to buy season tickets annually. Revenue generated by PSL sales helps finance the team’s $1.1 billion contribution to the $1.8 billion construction cost.

The Raiders initially anticipated generating $250 million in revenue through PSL sales, but with strong sales, the estimate is expected to be higher.

When PSL sales are completed, it’s expected that 55,000 of the 65,000 seats in the indoor stadium at Russell Road and Interstate 15 will be under license with the team retaining control of the remaining seats for team officials and charitable causes.

The team will continue its practice of first notifying current Oakland Raiders season ticket holders of the opportunity to buy before reaching out to Las Vegans and others who have placed a $100 deposit on PSL purchases.

“In every phase, we gave existing seat and ticket holders — people who own season tickets in Oakland — an exclusive window, so every phase had that and then we opened it up to the Las Vegas deposit holders and other people on the deposit list. So, we’re following that in this phase as well,” Raiders President Marc Badain said Tuesday.

The early phases of PSL sales have been successful.

The first phase, comprised of about 8,000 club seats and premium seating with a PSL price tag ranging from $20,000 to $75,000 per seat, sold out in 60 days in March and April.

The second tier, which had prices ranging from $3,900 to $15,000, went on sale in July and are about 90 percent sold out.

If third-tier sales, which began sooner than initially expected, are as robust as the previous phases, the team could potentially sell out their PSL inventory by the end of summer, nearly a year ahead of the scheduled opening of the stadium.

The team is planning to play its 2020 season in the Las Vegas stadium. It has yet to secure a home field for the 2019 season.

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