AP Source: Raiders Find New Financing For Las Vegas Stadium

 

ALAMEDA, Calif. (AP) – The Oakland Raiders have told the NFL they have found a new partner to finance their proposed stadium in Las Vegas: Bank of America.

A person familiar with the Raiders’ plans said Monday the team presented the new proposal with financing backed by Bank of America to the NFL’s stadium and finance committees. The person spoke on condition of anonymity because the plan was not made public.

The Raiders had been seeking a new partner for the proposed $1.9 billion, 65,000-seat domed stadium after casino magnate Sheldon Adelson withdrew a $650 million pledge last month.

The state of Nevada has committed $750 million to the project, while the Raiders and NFL would pay the remaining $500 million if three-quarters of the league’s owners approve a move. A vote could come at the owners meetings later this month.

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AP Pro Football Writer Barry Wilner in New York contributed to this report

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For more NFL coverage: www.pro32.ap.org and http://twitter.com/AP_NFL

 

© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

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