Raiders โ€œDisappointedโ€ With Las Vegasโ€™ Decision To Reduce Public Contribution To $550M

Vincent Bonsignore reports that Southern Nevada Tourism Infrastructure Committee elected to reduce the public contribution for a new Raidersโ€™ stadium in Las Vegas to $550 million from $750,000 on Thursday.

This means that developers would be asked to contribute another $200 million for a new stadium. Bonsignore points out that this essentially shifts $200 million from public funds to private investments.

Raiders president Mark Baidain told the SNTIC that they are โ€œdisappointed by what theyโ€™ve heard today,โ€ per Bonsignore.

โ€œThe signal of the $750 million to $550 million will be looked at as a negative by the NFL,โ€ Baidain said, per Bonsignore.

Raiders owner Mark Davis announced a few months ago that he was prepared to pledge $500 million towards a Las Vegas stadium project as long as finances for a stadium comes through.

This news doesnโ€™t have a big impact to the Raiders, as their contribution would remain at $500 million, per Bonsignore. According to Bonsignore, the lease for the stadium would be 30 years with annual rent of $2.5 million.

However, it sounds like this could be the first big concern in regards to a potential stadium deal in Vegas.

Andy Abboud of Las Vegas Sands Corporation told the SNTIC that heโ€™s still confident this deal can get done, per Bonsignore.

NFL owners appear to be open to the Raiders ending up in Vegas, but thereโ€™s no question that public contributions to the project will be expected, and while $550 million is a lot of money, weโ€™ll have to see if this ends up being a sticking point.

Itโ€™s worth mentioning that the Raiders have the option to join the Rams in Los Angeles if the Chargers back out of their current agreement and get a new stadium built in San Diego.

Weโ€™ll have more updates regarding the Raidersโ€™ future as the news becomes available.

Looking for the latest NFL Insider News & Rumors?

Be sure to follow NFL Trade Rumors on X.com and FACEBOOK for breaking NFL News and Rumors for all 32 teams!

Leave a Reply