Raiders execs have told the NFL that Goldman Sachs is "committed to financing the team’s proposed domed stadium in Las Vegas with or without an investment" from Sands Chair & CEO Sheldon Adelson," according to Richard Velotta of the LAS VEGAS REVIEW-JOURNAL. The Raiders and Adelson are the "private partners" behind a planned $1.9B, 65,000-seat domed football stadium. The plan currently calls for $750M in Clark County hotel room tax revenue, $650M from the Adelson family and $500M "from the Raiders and the NFL to fund construction." Las Vegas Sands Senior VP/Government Relations & Community Development Andy Abboud said late Thursday that talks "are continuing." Las Vegas-based financial consultant Applied Analysis Principal Jeremy Aguero said, "The Raiders discussed with the NFL the process for filing its application for relocation. The team received support on the Las Vegas project both inside the committee room and publicly with positive comments coming from some owners." Raiders Senior VP/Stadium Development & Operations Tom Blanda "attended Thursday’s authority board meeting and said he was optimistic the matter would be resolved within a month" (LAS VEGAS REVIEW-JOURNAL, 1/13).
NOTHING NEW HERE: Fortress Investment Group earlier this week sent the NFL an outline of a proposed stadium deal in Oakland that would commit the financier to put up about $850M, sources said. The league rejected the offer, calling it nothing new. The $850M would be backed by $200M of PSL sales, in addition to other funds. “We appreciate the fact that they are trying, but I already answered this -- there is nothing new,” said NFL Exec VP/Business Ventures Eric Grubman, who oversees stadium negotiations for the league. The Raiders are expected to file for relocation to Las Vegas by Feb. 15. The team has thus far declined to negotiate with Fortress, which in mid-December signed an exclusive negotiating period with the city of Oakland to come up with a development plan for the stadium land (Daniel Kaplan, Staff Writer).
ONE OPTION ELIMINATED: In San Jose, Mark Purdy wrote with the Chargers off to L.A., the Raiders’ stadium quest “now comes into much clearer focus.” The Raiders' choices are “reduced to two unless San Diego decides to pursue the Raiders as a replacement for the Chargers.” Purdy: “Don’t count on that.” The Chargers’ move also may “light a hotter fire under the Oakland politicos who have been so late to the party in trying to assemble a stadium package for the Raiders to consider” (SAN JOSE MERCURY NEWS, 1/13).
