Home / Raiders / Raiders Say They’re Still “Fully Committed” To Las Vegas Move, Despite Funding Issues

Raiders Say They’re Still “Fully Committed” To Las Vegas Move, Despite Funding Issues

Raiders president Marc Badain mentioned that they’re still “fully committed” to relocating the team to Las Vegas and the proposed stadium, despite the recent developments that led to Sheldon Adelson withdrawing from the project.

“The organization remains fully committed to this project,” Badain told the stadium authority board members, via NFL.com. “We are not deterred. Financing will not be an issue.

The Raiders are now hundreds of millions of dollars short in regards to financing the Las Vegas stadium and Goldman Sachs’ involvement was tied to Adelson being a part of the project.

Even so, Badain told the board that they’re in discussions with “multiple financial institutions,” but declined to offer any specifics regarding who they’re speaking with.

The Raiders will need to come up with the $650 million pledged by Adelson and his family. Las Vegas would contribute $750 million with another $500 million coming from the Raiders.

NFL owners are expected to put the Raiders’ move to Las Vegas to a vote six weeks from now, so the Raiders will need to have answers to supply them if they’re able to secure the 24 votes required to move the team.

We’ll have more regarding the Raiders moving to Las Vegas as the news is available.

 

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