Las Vegas Raiders Move Forward
Las Vegas Just had a large weekend full of events! Governor Brian Sandoval announced he intends to call Nevada lawmakers into a special session early next month to outline a public financing plan for Nevada first professional football team! Sandoval states the session will be between October 7th and October 13th. The Oakland Raiders would like to move to Las Vegas “Las Vegas Raiders” and from a locals standpoint it looks very promising. Locals are expecting a National Football Team and massive state of the art stadium will keep pricing rising in the real estate market. Investors have already started prospecting what locations would be best to place funds. One Las Vegas on the South Strip is starting to gain some traction in light of recent events.
The stadium that has been proposed will cost a total of $1.9B. The funding looks to be coming together in a few ways. The owner of the soon to be Las Vegas Raiders will contribute $500,000,000. Local billionaire Sheldon Adelson will be contributing $650,000,000. The special session announced by Sandoval will be outlining a $750,000,000 package to fund the balance of the project.
“We have before us the opportunity to invest in Nevada’s most foundational industry, tourism, by providing for the infrastructure and public safety needs of the 21st century,” Sandoval said. “We can and must usher in a new era for tourism in the Las Vegas market, while keeping our citizens and visitors safe, and ensuring our position as the global leader in entertainment and hospitality.”
Las Vegas Raiders – “coming soon”
The Raiders camp seam to be very optimistic of the move. They have applied for an assortment of trademarks including “Las Vegas Raiders”. The filings with the United States Patent and Trademark Office covered everything from logo usage on uniforms to underwear and baby bibs. With the Riders having the largest volume of merchandise sales this could be a lucrative re branding for the team. The Oakland Raiders have consistently led the league in merchandise sales and just last year came in third for overall jersey sales.
Below are the renderings of the proposed stadium. There are two top contenders for location both on the South Strip. One to the west of Mandalay bay hotel across the freeway. This sight is currently a large vacant lot ready for construction. The second location is just south of the Mandalay bay hotel on the Bali Hai Golf Course.