As I’ve written before I don’t pretend to know all the ins and outs of financing the relocation of an NFL football team. And I think I’ve made it clear I’m pretty skeptical of a plan bringing the Oakland/Los Angeles/Irwindale/Inglewood/Carson/San Antonio Raiders to Las Vegas based on their track record of dealing with all those other cities in the past.
But a high muckety-muck committee has approved something or other which is supposed to be a clearance of a big hurdle for the Raiders to come to Vegas.
I’m no math expert, but I’m told the stadium is going to cost $1.9 billion. Sheldon Adelson is going to kick in $650 million. A hotel tax is supposed to raise $750 million.
The Raiders have “promised” (and when have the Raiders ever been accused of not keeping a promise?) to kick in $500 million, which will have to go to the relocation fee the NFL charges. If the NFL is nice, it will charge the Raiders just $500 million to relocate, which isn’t likely.
I assume the rest of the money for the stadium is supposed to come from various other sources such as personal seat licenses — in which you plump down a large sum of money just for the chance to buy season tickets — season ticket sales, luxury boxes, television revenue, merchandising, etc.
But to be honest I might get in on this racket and try to buy a couple of season tickets — just to sell to Raider opponents’ fans who would love to come to Vegas.
I’ve heard through the grapevine (which is journalisticease for I really don’t know anything) Gov. Brian Sandoval could call a special legislative session as soon as next month.
I’ve written before whatever’s decided, our state lawmakers need to make sure if for whatever reason the Raiders leave before the stadium is paid off — the Raiders, or someone else, but not us taxpayers — should be stuck with the bill.
When it comes to the Raiders, it’s looking more and more like Vegas — and the state — is going to roll the dice. Here’s hoping we come up a lucky 7.
— Charles Whisnand
