http://m.reviewjournal.com/sports/nfl-vegas/raiders-las-vegas-stadium-get-boost-bank-america
RAIDERS’ LAS VEGAS STADIUM TO GET BOOST FROM BANK OF AMERICA
imgMark Davis, owner and managing general partner of the Oakland Raiders, talks to current and former players and coaches as he walks around the stadium prior to a game at Oakland Colosseum, Sunday, Dec. 4, 2016, in Oakland California. (Thor Swift/Special to the Las Vegas ***************)
By JON MARK SARACENO
LAS VEGAS ***************
LANTANA, Fla. — Bank of America will bankroll the $1.9-billion Las Vegas football stadium sought by Oakland Raiders owner Mark Davis, paving the way to move his franchise to Las Vegas, he told NFL owners Monday.
Davis and Raiders team president Marc Badain informed the league’s finance committee that funding for the planned 65,000-seat facility is in place with the banking giant, which regularly does business with the NFL, a league spokesman told the ***************.
The Raiders also told the finance and stadium committees that everything is in place for a relocation vote at the NFL Annual Meeting on March 26-29 in Phoenix. Twenty-four of 32 owners must approve the proposal.
The vote also could be delayed until the next time owners convene in late May in Chicago. The owners don’t have to meet to vote – they also could cast relocation “ballots’’ via conference call.
Prior to Monday’s meeting, Jacksonville Jaguars owner Shad Khan told the RJ that “much work needs to be done’’ before the NFL in Southern Nevada becomes reality.
“It will get done when it gets done,’’ Khan said.
Davis was forced to find fresh investment money after Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson withdrew his family’s pledge of $650 million in January to help fund the project. At that time, Goldman Sachs also pulled out of the proposed deal. The rest of the stadium funds would be provided by the Raiders ($500 million) and Clark County bonds backed by an increase in the hotel tax ($750 million) that was approved by the Nevada legislature.
The Las Vegas Stadium Authority would own the multi-purpose stadium, which also would be utilized by the UNLV football program.
This is a developing story. Check back for updates.
The *************** is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.
Jon Mark Saraceno can be reached at jsaraceno@reviewjournal.com. Follow @jonnysaraceno on Twitter.
RAIDERS’ LAS VEGAS STADIUM TO GET BOOST FROM BANK OF AMERICA
imgMark Davis, owner and managing general partner of the Oakland Raiders, talks to current and former players and coaches as he walks around the stadium prior to a game at Oakland Colosseum, Sunday, Dec. 4, 2016, in Oakland California. (Thor Swift/Special to the Las Vegas ***************)
By JON MARK SARACENO
LAS VEGAS ***************
LANTANA, Fla. — Bank of America will bankroll the $1.9-billion Las Vegas football stadium sought by Oakland Raiders owner Mark Davis, paving the way to move his franchise to Las Vegas, he told NFL owners Monday.
Davis and Raiders team president Marc Badain informed the league’s finance committee that funding for the planned 65,000-seat facility is in place with the banking giant, which regularly does business with the NFL, a league spokesman told the ***************.
The Raiders also told the finance and stadium committees that everything is in place for a relocation vote at the NFL Annual Meeting on March 26-29 in Phoenix. Twenty-four of 32 owners must approve the proposal.
The vote also could be delayed until the next time owners convene in late May in Chicago. The owners don’t have to meet to vote – they also could cast relocation “ballots’’ via conference call.
Prior to Monday’s meeting, Jacksonville Jaguars owner Shad Khan told the RJ that “much work needs to be done’’ before the NFL in Southern Nevada becomes reality.
“It will get done when it gets done,’’ Khan said.
Davis was forced to find fresh investment money after Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson withdrew his family’s pledge of $650 million in January to help fund the project. At that time, Goldman Sachs also pulled out of the proposed deal. The rest of the stadium funds would be provided by the Raiders ($500 million) and Clark County bonds backed by an increase in the hotel tax ($750 million) that was approved by the Nevada legislature.
The Las Vegas Stadium Authority would own the multi-purpose stadium, which also would be utilized by the UNLV football program.
This is a developing story. Check back for updates.
The *************** is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.
Jon Mark Saraceno can be reached at jsaraceno@reviewjournal.com. Follow @jonnysaraceno on Twitter.
