October 17, 2016 - 7:59 pm
On his way from Oakland to Houston for the NFL’s fall meeting, Raiders owner Mark Davis stopped in Las Vegas on Monday and picked up a new stadium deal.
Nevada Gov. Brian Sandoval signed Senate Bill 1 into law Monday during an upbeat ceremony at the Richard Tam Alumni Center at UNLV, where the Rebels’ cheerleaders and pep band attended along with several city leaders and casino executive Steve Wynn. Sandoval called it an “epic day” for Southern Nevada.
Pending league approval of the Raiders’ relocation request in January, Davis said the team would not play games in Las Vegas before the 2019 regular season.
“We believe if we stay in Oakland for at least the next two seasons after this one, it gets the families of the players and everyone else a chance to acclimate,” Davis said. “We’re going to try to bring a Super Bowl championship back to Oakland before we make our new home here.”
The bill provides $750 million in hotel tax revenue toward a $1.9 billion, 65,000-seat domed stadium near the Strip. Terms of the stadium deal call for contributions of $650 million from the family of Las Vegas Sands Corp.
Chairman and CEO Sheldon Adelson and $500 million from the Raiders.
Davis said he will take Las Vegas’ stadium proposal to Houston on Tuesday and “update” other team owners and NFL executives at the league’s fall meeting.
A formal vote on the Raiders’ relocation from Oakland to Las Vegas is expected in January, and the Raiders would need 24 of 32 owners to vote in favor of the move.
“I’m thinking it’s an offer they can’t refuse,” Davis said. “The state of Nevada has made a significant public contribution. Now we have to do our part. We are thankful for the opportunity, and now we just have to take this to the finish line. I will do everything I can to bring the Raiders to Las Vegas.
“I told the governor the first time we met, I looked him in the eye and told him we’re not using this for leverage. This is a huge day for the state of Nevada and for the Raiders. We plan to immerse ourselves in the community, and I think it’s going to be a great marriage.”
The financial commitment by the Raiders includes a $200 million loan by the NFL and $300 million that would be raised partially by the sale of personal seat licenses for the Las Vegas stadium.
The Raiders intend to extend their lease at Oakland-Alameda County Coliseum through the 2018 season, using a team option for the next two seasons.
Davis said no major decisions will be made concerning the Raiders’ future this week in Houston.
“It’s just going to be an update,” Davis said. “It’s not really going to be an in-depth presentation, and we’ll let them know where we are in the process.”
The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.
Contact reporter Matt Youmans at email@example.com or 702-387-2907. Follow on Twitter: @mattyoumans247