Las Vegas, NV has never had a professional football team. A few of the closest things the city ever had was the Las Vegas Outlaws, which was a part of the failed XFL, the Las Vegas Posse, from the failed CLF, and the Las Vegas Sting, from the failed Arena Football League. However, they have never been home to a team from the NFL. Of course, it appears that things are changing in that arena. The Oakland Raiders want to pick up and relocate to Sin City, and this has the potential to be very good for the town.
Even though the city has had trouble supporting professional sports teams in the past, the NFL is a different beast entirely. There seems to be a lot of potential, and the move looks like it could be a foregone conclusion, although there may be some hiccups, as you will see.
Raiders Apply for Permission to Move
In February, 2017, the Oakland Raiders applied for permission to move to Las Vegas. They need to have 24 owner votes before they can make this move. Currently, they are lacking a partner to provide them with some of the financing they need. The owner of Sands, Sheldon Adelson, was going to contribute, but backed out. There are rumors that another potential partner, Goldman Sachs, is not going to contribute either.
The Raiders currently still need to put together $650 million, in addition to the $750 million from Nevada taxpayers and the $500 million from the NFL, to build their proposed stadium. The cost of the stadium stands at $1.9 billion. Even though they have had people dropout from the investment, the Raiders say that they still have two banks that will help to provide the money needed for the stadium. However, they did not name the sources of these extra funds.
Reports say that Adelson was not pleased with the lease the Raiders wanted to sign. The proposal would have the Raiders paying just $1 in rent each year. The investor did not like how the proposal only favored the Raiders. One of the only potential benefits to having Adelson drop out is the fact that NFL Commissioner Roger Goodell was unhappy that a casino owner would be involved with the NFL in any way.
It Could Be Good for Las Vegas
If the Oakland Raiders do move to Las Vegas, it has the potential to be very good for the city. It could help to increase jobs in the city, and provide even more in the way of tourists dollars, although Vegas has never seemed to have a problem with the number of tourists that come here.
Even though most believe that the Raiders will be coming to Las Vegas, there is still a possibility that they will not get the funding and will not have the votes needed to make that move. It’s an interesting situation that is certainly worth watching. We should know the results before too long.