Steelers President Art Rooney II, who chairs the NFL's stadium committee, said the city of Oakland in order to keep the Raiders does not have to match the $750M in public subsidies approved by Nevada for a new stadium. NFL owners this morning will get an update on the Las Vegas and Oakland situations at their Fall meeting in Houston. Oakland has been recalcitrant about spending public dollars on a new stadium, but sources said that could change soon.
The developments come as the NFL has begun preparing to conduct a market study of Las Vegas, said Texans Owner Bob McNair, Chair of the finance committee. The league is also preparing one for Oakland, a source said. The studies will give the league information about how much revenue can be raised from categories like PSLs and naming rights. That is believed to be why insiders like Rooney do not see the need for Oakland to match the Nevada sum. “We have a lot of work to do,” Rooney said.
Some league insiders maintain the team may stay in Oakland because that market is much larger and more vibrant than Las Vegas. No decision is planned today, or likely even at the next meeting in December. The Raiders, who are negotiating directly with Las Vegas, can file to relocate beginning Jan. 1.
