For some time now there has been talk of creating an NFL stadium in the state of Nevada with the Oakland Raiders considering making the move to Las Vegas. Moving an NFL team is not quite as simple as it may seem, but it seems the groundwork is being laid for a new stadium to be built which means Las Vegas is one step closer to having an NFL team.
Yesterday, the Southern Nevada Tourism Infrastructure Committee voted in approval to recommend $750 million be provided in public funding for the proposed NFL stadium. The stadium has a price tag of $1.9 billion with Sheldon Adelson putting up $650 million in funding towards the project as well. The Oakland Raiders would put up money as well, an additional $500 million.
The committee voted unanimously in approval for the funding to go towards the stadium with the recommendation now heading towards Governor Brian Sandoval. Sandoval would need to hold a special session within legislator to have the contribution approved. This January, owners of NFL teams will meet to decide if the Raiders will be allowed to move from Oakland to Las Vegas.
It appears that the public contribution will come from an 0.88% hotel room tax increase in Las Vegas instead of a profit-sharing plan, according to the Las Vegas Sun. Las Vegas Sands Senior Vice President of Government Relations and Community Development, Andy Abboud, stated that the vote resulted in an exciting and momentous day and the company looks forward to having similar discussions with members of legislature.
As of yet, there has been no final decision as to where the stadium will be located. Two locations are being reviewed, one of which is Bali Hai Golf Club and an area of 62 acres located west of the Mandalay Bay Casino.
It will be interesting to see if the stadium project continues to gain momentum and where the final spot will be in the project is approved. It will take at least until early next year before it will be determined if the Raiders will be able to call the new stadium home, if approved.
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