Menu
Franchises

Source: Raiders Have Enough Ownership Votes To Approve Las Vegas Relocation

With NFL owners set to meet next week in Phoenix, the Raiders and Owner Mark Davis "have 27 or 28 votes" of the necessary 24 to relocate the team to Las Vegas, according to an ownership source cited by Albert Breer of THE MMQB. Another source said that if the league "senses Davis won’t get the necessary 24, the vote likely would be pushed to May," though the source added that he "fully expects a vote" next week. Breer reports some owners "could push to move the vote to May." But there is "not much of a belief anything would change in the weeks between the annual meeting and the spring meeting, and going past that could open the risk" that the $750M the state of Nevada committed in public funds "goes away." Bank of America "rushing to take the financing baton" from Goldman Sachs and Las Vegas Sands Chair & CEO Sheldon Adelson is "proof, to most owners, of the quality of the project." Breer: "So chances are, Davis’ peers give him his victory here." There is a "lack of concern over the stigma of Sin City among team owners, presidents" and those at NFL HQ. Breer writes in most cases, when talking with league sources he "had to bring it up for it even to be a topic of conversation." One AFC team owner said, "From a gambling standpoint? That’s a joke to even say that’d be a problem. That was an issue decades ago. Now? Sports gambling is going to be legal. We might as well embrace it and become part of the solution, rather than fight it. It’s in everyone’s best interests for it to be above board.” An NFC Owner said, “The first question, naturally, is going to be about gambling. But any of us can pull our phones out of our pockets and place a bet right now. (The concern) is not 100 percent put to bed, but it’s relatively put to bed, just because of technology today" (MMQB.SI.com, 3/23).

MAN BEHIND THE CURTAIN: CBSSPORTS.com's Jason La Canfora wrote the "mystery of who will actually develop and construct the stadium and the area immediately around it is coming into focus." League sources said that developer and NHL Kings co-Owner Ed Roski -- who is "thought of highly in ownership circles and who tried previously to bring" an NFL team to L.A. -- will "end up overseeing the project." Roski is "well equipped to handle a project of this magnitude." La Canfora wrote of the relocation, "This is happening." However, there are "some worries about what the debt ratio will be" on the stadium project. There are "concerns about whether the franchise or the stadium could be used as collateral (which is a no-no)." And there are "some unknowns about how the exact language of the lease will read" (CBSSPORTS.com, 3/22).

TAKE A FEE RIDE: NFL Network's Ian Rapoport notes a relocation fee of $325-250M is expected, "much less" than what the Rams or Chargers paid. Rapoport said from his understanding, the "difference here is the value of the land and the value of the franchise moving from where it is currently in Oakland" to what it is "expected to be in Las Vegas." That is "much different" from the Rams' move, which created a "huge" increase in that franchise's value ("NFL Total Access," NFL Network, 3/22).

DEVIL IN THE DETAILS: In San Jose, Mark Purdy writes the "'yes' or 'no' part is not even the issue at this point," but "what exactly will be in the resolution they approve?" It "can’t be a complete and final deal," as the Raiders have no "lease agreement with the Las Vegas Stadium Authority Board or the city itself." There is "merely a general outline with several unresolved issues." The owners' vote will have to "carry some tentative language." There will "surely be certain stipulations which must be met by the team and city of Las Vegas before the agreement becomes final."  A deadline "may be set to have everything resolved by the next NFL meetings, scheduled for May." Purdy writes, "If the people of Oakland have any hope to retain the Raiders, they’ll need something to go amiss from the Raiders’ side of the equation" (SAN JOSE MERCURY NEWS, 3/23). In Las Vegas, Jon Mark Saraceno reports Raiders President Marc Badain met yesterday with Clark County Commission Chair Steve Sisolak, and the two "spent three hours together." Sisolak said the Raiders are "cautiously optimistic" about the move "but taking nothing for granted" (LAS VEGAS REVIEW-JOURNAL, 3/23).

INTELLECTUAL PROPERTY: Stanford economics professor Roger Noll "rejects the financial projections Nevada lawmakers used to pass a bill to contribute" $750M. Noll: "It is a catenation of optimistic assumptions. The probability that it could happen isn’t zero, but it is pretty close to zero.” In Oakland, Elliott Almond reports Nevada officials "expect to draw 451,000 new visitors because of the 65,000-seat stadium." These tourists would "spend an average of 3.2 nights per visit, leading to an additional $650,000 in annual income to the area." But Noll said, "Every single thing they made an assumption on has no prior experience anywhere else.” Noll wonders why Nevada's most influential civic leaders are still "persisting" with the Raiders deal. Noll: "Why would they go with this phony baloney stuff that Vegas is different? Why would they believe a half a million who would never visit Vegas would suddenly show up because there is a football stadium? It’s so far out there it is a puzzle.” But Almond notes few are "listening to warnings from Noll and other economists" (EAST BAY TIMES, 3/23). CSNBAYAREA.com's Ray Ratto wrote the Raiders will move to Vegas "because there is literally no compelling reason to keep them in Oakland save tradition, and nobody cares about tradition any more." Ratto: "Hell, not even the Raiders care about tradition" (CSNBAYAREA.com, 3/22). 

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2017/03/23/Franchises/Raiders.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2017/03/23/Franchises/Raiders.aspx

CLOSE