Raiders' Las Vegas stadium will include 120,000 square feet of private club spaceRAIDERS
Club level seats at the Raiders' $1.84B, 65,000-seat Las Vegas stadium will feature "climate-controlled environments, expanded stadium access, and chef-inspired food and beverages, among other luxuries," according to Mick Akers of the LAS VEGAS SUN. One of the clubs has a ground-level view so fans can see players "enter the field of play." In documents to be reviewed at tomorrow’s Las Vegas Stadium Authority meeting, the Raiders describe the club levels as "drawing on the 'strengths of the Entertainment Capital of the World' in delivering world-class entertainment and culinary arts." The stadium will include 120,000 square feet of "private club space." There is also a club planned for the "lower level sidelines between the 10-yard lines, with wider, padded seating." Additionally, the proposal calls for two clubs "located at field level on the 50-yard line behind both the home and visitor sidelines providing exclusive views of players and coaches as they enter and exit the field" (LAS VEGAS SUN, 7/18).
GET WHAT YOU PAY FOR: In Las Vegas, Richard Velotta in a front-page piece notes PSLs for Raiders games in "reserved seating will range from $3,900 to $15,000 per seat." PSLs "went on sale" yesterday. The cheapest "reserve-seating PSLs -- $3,900 -- are for seats at the highest level of the stadium near midfield." The "highest-priced ones -- $15,000 -- are for seats closest to the field level at the four corners, between the end zone and the 10-yard lines." PSLs for end-zone seats "range from $7,500 to $8,500 each" (LAS VEGAS REVIEW-JOURNAL, 7/18). Also in Las Vegas, Alan Snel noted the Raiders are "offering three ways to pay" for the PSLs. First, if fans "pay the entire amount up front," they will get a 5% increase. A second alternative is to "pay one-third of the amount up front," a second 33% by March 1, 2019 and the final third by March 1, 2020. The final option is paying 20% of the amount "up front," 10% by March 1, 2019 and 70% "in installments." Fans also can transfer the PSL to a member of their "immediate family or a third party" and "have a right to resell" their PSL. Click here to view the PSL marketing plan (LVSPORTSBIZ.com, 7/18).
TO THIS POINT: The SUN's Akers noted in the eight months following the groundbreaking ceremony, $285M worth of work "has occurred" on the project. The money "spent to date" represents 16% of the project’s budget. Thus far, $116.8M "has been spent" on design, engineering and soft costs; $80.56M on construction; $77.8M on the land acquisition; $8.9M on premium seating and marketing program; $1.3M on utility and infrastructure costs; and $51,402 on furniture fixtures and equipment (LAS VEGAS SUN, 7/17).
