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LVCVA approves sponsorships for 2 major sporting events

Updated May 14, 2024 - 4:58 pm

Two popular sports events bound to draw thousands of fans to Las Vegas will be sponsored by the Las Vegas Convention and Visitors Authority.

The board on Tuesday unanimously approved sponsorships for the next two NBA Summer League seasons, July 12-22 this year and in July 2025, for $600,000 each year, and Wrestlemania 41 set for April 19-20, 2025, at Allegiant Stadium for $5 million.

The 20th Summer League season this year, played at UNLV’s Thomas & Mack Center and Cox Pavilion, is a 75-game season played by all 30 NBA teams over 11 days. Players include rookies, some second-year players and free agents no longer on rosters attempting to return to the league.

Games are aired on ESPN and NBA TV and streamed on the NBA mobile app, giving the city an additional publicity boost.

The Cleveland Cavaliers are the defending NBA Summer League champions.

LVCVA officials say the NBA Summer League is expected to draw more than 41,850 out-of-town visitors who will occupy more than 53,000 incremental room nights over the season.

Wrestlemania, operated by WWE LLC, has evolved over four decades from a made-for-TV show to stadium and arena events that draw fans for Raw, SmackDown, NXT Stand & Deliver, WWE World and the 2025 WWE Hall of Fame ceremony.

In presenting the request for Wrestlemania funding, Lisa Motley, vice president of sports and special events, took a gold WWE champions belt to the podium.

She said Wrestlemania 41 is expected to draw more than 180,000 out-of-town visitors who will occupy more than 144,000 incremental room nights.

In other business Tuesday, the board unanimously approved future convention space rental rates through 2035. New rates also will include move-in and move-out fees per square foot.

In September, the board raised rates through 2030, but on Tuesday, it added new rates through 2035. All rates will change on Jan. 1 of each year.

The current rate is 35 cents per square foot. That will rise to 36 cents in 2026 and a penny a year through 2030. Beginning in 2031, rates will rise to 43 cents in 2031, 44.5 cents in 2032, 46 cents in 2033, 47.5 cents in 2034 and 49 cents in 2035.

Move-in and move-out fees will rise gradually from the current 17.5 cents per square foot to 24.5 cents in 2035.

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

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