Raiders’ Revised Lease Proposal With Las Vegas Stadium Authority

Mark Manendo Las Vegas State Assemblymen holds a Raiders cap during a bill signing to increase hotel room tax to finance a 1.9 billion dollar stadium.

So, the next step towards the Raider’s move to Las Vegas is bound to happen this week. The Las Vegas Stadium Authority Board will be looking over a proposed restructured lease agreement from the current Oakland Raiders. The previously proposed lease agreement had some concerns over the document structure.

While awaiting the stadium board meeting, casino giant Sheldon Adelson pulls out of his $650 million pledge to invest in the project after the team submitted the original lease agreement proposal back in January without him knowing. 

Adelson’s withdraw also triggered investment bank Goldman Sachs, which lined up as a backup financier, to step aside as well. Raiders’ officials claim that they have secured funding to replace these recent pullouts, although they haven’t mentioned who they are.

Oakland Raider’s relocation application with the NFL will be considered in late March at the annual league meeting with team owners in Phoenix.

This leaves us bearing the suspense of the fate of our beloved Oakland Raiders. Although, there’s still a chance they may not be approved by the NFL to relocate or their lease proposal denied. In any case, they are still persisting on making the move.

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