Raiders and Las Vegas Narrow $1.9 Billion Stadium Location To Two Sites

Raiders Proposed Las Vegas StadiumAfter much deliberation, the entities behind a prospective Las Vegas NFL stadium (would become the home venue of the Raiders and UNLV) have narrowed their options down to two potential locations. Both sites sit a little south of the Las Vegas Strip, with the preferred choice located just west of I-15, between Russell Rd. and Hacienda Ave. The backup plan calls for construction on the current Bali Hai Golf Club, on the east side of I-15, immediately south of the Mandalay Bay Resort & Casino.

The 65,000-seat dome stadium is currently slated at a cost of $1.9 billion, with $100 million of that sum involving the construction of a Raiders practice facility. The proposed private/public contribution breakdown goes as follows. 

The Las Vegas Sands Corp. and Majestic Realty has pledged $650 million. The Raiders and NFL would contribute $500 million, with the final $750 million of funding coming from the state of Nevada. The state’s ante would be generated via a .88 percent raising of the hotel tax, which currently comes in at a rate of 12.9 percent.

This link provides a look at the full 30-page report recently presented by stadium backers to the Southern Nevada Tourism Infrastructure Committee.

The presentation includes site status, design, financial terms, benefits to the area and what is needed from a legislative perspective.

As is usually the case, the biggest and most controversial sticking point in this negotiation is the public’s contribution to the venture.

Nevada political guru Jon Ralston provides analysis regarding the current legislative terrain in the Silver State and what it may take for the stadium to become a reality.

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