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A look at the potential site (dirt lot in upper left corner) for Las Vegas Raiders/UNLV Rebels stadium, after takeoff from McCarran International Airport in pic I took this season.
Raiders secure Las Vegas financing from Bank of America
Posted by Mike Florio on March 6, 2017
The third time’s a charm, at least for now.
After having a pair of potential financing partners for the Raiders’ proposed Las Vegas stadium bow out, the Raiders havelined up Bank of America to provide the remaining capital, according to Vincent Bonsignore of the Los Angeles Daily News.
Previously, Sands casino owner Sheldon Adelson and investment firm Goldman Sachs had been separately lined up to kick in the $650 million needed to bridge the gap between the NFL/team contribution ($500 million) and the available taxpayer money ($750 million).
The Raiders will still need to replace the expertise that Adelson would have provided from the perspective of stadium construction and operation. And they’ll need to worry about Adelson working behind the scenes to keep the Raiders out — since he reportedly intends to try to lure another team in.
NFL committee will recommend Raiders relocation proposal
Posted by Mike Florio on March 7, 2017
Getty Images
The Raiders have applied for permission to relocate to Las Vegas. The committee tasked with reviewing the proposal and making a recommendation to the full ownership is prepared to provide the green light.
Ian Rapoport of NFL Media reports that the recommendation will be made by the committee at the annual league meeting earlier this month.
Of course, a committee recommendation doesn’t necessarily mean that the final vote will be favorable. Last year, the league’s L.A. committee voted by a 5-1 outcome that the owners select the Carson location (which would have housed the Raiders and Chargers) over the Inglewood site (which will host the Rams and Chargers). The owners then voted overwhelmingly to reject the committee recommendation.
Although the Raiders have indeed secured funding from Bank of America to replace the money that would have come from Sands Casino owner Sheldon Adelson, there’s still no public indication that the Raiders have found someone with the construction and operational experience to get the stadium built and to keep it running.