The additional PSL revenue allowed for a $90M budget increase for the Allegiant Stadium projectRAIDERS
The Raiders have brought in nearly $400M in "personal seat license fees" for Allegiant Stadium ahead of their move to Las Vegas next season, according to Bryan Horwath of the LAS VEGAS SUN. The PSLs are "required for the right to purchase season tickets" at the new stadium, and the team already has accounted for $399.3M in license sales. The team's initial stadium budget called for $200M in PSL revenue, but the added funds "allowed builders to increase the project" by $90M to a total of $1.97B. Raiders President Marc Badain said that less than 2% of the "available PSLs for the new stadium remain" (LAS VEGAS SUN, 11/19). In Las Vegas, Alan Snel wrote the Raiders "hit the jackpot" with their PSL sales, about 30% of which came from buyers "outside Las Vegas." Badain said that "game ticket sales" also will be completed in the next few weeks. He added that event organizers are "contacting the Raiders to stage events at the stadium" (LVSPORTSBIZ.com, 11/18).
ON-TIME ARRIVAL: In Las Vegas, Richard Velotta notes Allegiant Stadium "continues to be on time and on budget, even though completion of the cable net to support the translucent polymer roof won't be completed until mid-December." Allegiant Stadium COO Don Webb said that the project "remains on track for substantial completion on July 31" (LAS VEGAS REVIEW-JOURNAL, 11/19).
