LAS VEGAS (AP) – The Latest on plans for an NFL stadium in Las Vegas (all times local):
The lease agreement for a proposed Las Vegas NFL stadium won’t be ready before team owners meet later this month, when they could potentially vote on whether to approve the relocation of the Oakland Raiders.
The entity that oversees the proposed stadium on Thursday discussed some of the terms of the agreement and made it clear that a final deal won’t be reached within weeks.
The Raiders want to leave Oakland and move to a proposed $1.9 billion, 65,000-seat domed stadium in Las Vegas.
The team hit a huge setback last month when casino magnate Sheldon Adelson withdrew a $650 million pledge, but it has now secured the financial backing of Bank of America.
Three-quarters of the league’s owners must approve the move. A vote could come during owners meetings later this month.
LAS VEGAS (AP) – The entity overseeing a proposed Las Vegas NFL stadium is set to meet for the first time since the Oakland Raiders told the league that they have found a new partner to finance the facility.
The stadium authority board will gather Thursday. It is expected to discuss the involvement of Bank of America in the project’s financing as well as any progress made in a proposed lease agreement.
The team 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.
Las Vegas hotel room tax revenues are slated to pay $750 million toward construction, while the Raiders would pay the remaining $500 million if three-quarters of the league’s owners approve a move.
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