Report: Raiders Move To Las Vegas More Likely
Raiders owner Mark Davis will meet with Nevada officials today to discuss moving the Bay Area team to Las Vegas. He will attend an infrastructure-focused workshop to talk about a new $1.3B stadium from Sheldon Adelson and Majestic Realty.
Davis previously met with Adelson about a new arena planned to occupy 42 acres near the Vegas Strip, ESPN reports. The new stadium also would host the University of Nevada, Las Vegas’ football program. While the team, developers and government officials are actively talking about construction and financing, relocation plans haven’t been finalized. The Southern Nevada Tourism Infrastructure Committee has until July 31 to submit an official recommendation to Nevada Gov. Brian Sandoval.
The team's short-term lease extension at Oakland's Coliseum resulted in a rent increase from $925k to $3.5M in the first year of the lease.
Then Overstock.com opted out of the final year of a naming rights contract. The online retailer’s fee for o.Co Coliseum had subsidized the Raiders' rent.
The NFL has said league rules do not prohibit a team from relocating to any city. [ESPN]