The city of Las Vegas, The Cordish Companies, and Findlay Sports & Entertainment have announced details of a non-binding term sheet in the hopes of building a stadium and bringing a Major League Soccer franchise to the city. 

The proposed stadium would seat up to 24,000 spectators and cost $410 million, with almost 70 percent of the cost coming from private funds and the rest derived from public sources.

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"We are very excited for the opportunity to bring Major League Soccer to Las Vegas," Justin Findlay, managing partner of Findlay Sports & Entertainment, said in a statement. "We’ve been working hard with the city of Las Vegas and the MLS to make this a reality. It will be extremely exciting for us and our community to have its first major professional sports team."

The Las Vegas City Council will vote on the term sheet on Sept. 3. No stadium will be built for the city unless the league awards Las Vegas a new expansion franchise. 

- Scooby Axson

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