Nevada Assembly passes bill to publicly finance potential Raiders stadium
A 28–13 vote passed the proposal for a $750 million arena built using taxpayer money, a domed building that would seat 65,000. The proposal returns to the Senate, which passed the bill on Tuesday, to iron out details. The governor would also need to approve it.
The Raiders have yet to receive approval from the NFL to relocate from Oakland, with the question of whether it makes sense for a team to move to Vegas. Owner Mark Davis has publicly stated his intent to move the team there, given three-fourths approval from league owners. Under the proposal, Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson will put in $650 million, with the team putting in $500 million.
“I would like to thank Governor Sandoval, the Southern Nevada Tourism Infrastructure Committee, and the members of the Nevada Legislature on this historic day,” said Raiders owner Mark Davis in a statement. “All parties have worked extremely hard to develop and approve this tremendous stadium project that will serve as a proud new home for the entire Raider Nation.”
NFL owners gather in Houston next week for their annual fall meeting.