Raiders push for Las Vegas move with $2B NFL stadium plan

Dive Brief:

The Oakland Raiders have filed the necessary paperwork to trademark the "Las Vegas Raiders" name, indicating the team's commitment to make the move pending approval of a $750 million public commitment to help fund the proposed 65,000-seat, $1.9 billion new stadium, according to CBS Sports. See new renderings of the stadium here.
Despite the state's reported willingness to commit $500 million to $600 million toward a publicly owned stadium, the Raiders' Las Vegas partner, the Sands Casino Group, told the Southern Nevada Tourism Infrastructure Committee that the state must contribute $750 million or the deal is off. The Raiders would kick in $500 million toward stadium costs, and Sands would come up with the balance.
Construction for the MANICA Architecture-designed stadium would cost $1.3 billion, and the team estimates an annual $100 million "exposure value" for the city of Las Vegas. The city would fund its portion of the stadium obligation with a hotel room tax and a special taxation district.

Dive Insight

The team has also been looking at potential stadium sites in Los Angeles and San Antonio, TX, and it has narrowed down its Las Vegas options to two potential locations near the strip, according to the San Francisco Chronicle. Although the SNTIC has said it does not make decisions on behalf of the Nevada legislature, the committee's recommendations still have sway over state lawmakers.

Of course, the team's move to Las Vegas hinges on the approval of at least three-quarters of NFL owners at their upcoming January meeting, not to mention that Raiders owner Mark Davis is counting on the standard $200 million NFL contribution toward new league stadiums. However, the NFL denied a Raiders' bid in January to move the team to Los Angeles, instead approving a new stadium to be shared by the former St. Louis Rams and the San Diego Chargers. Not long after the NFL decision, casino giant Las Vegas Sands Corp. announced it would push for the $1.4 billion stadium, kick in $150 million, and try to bring the Raiders — in addition to other sporting and public events — to the University of Nevada, Las Vegas-owned site. Despite the push to move to Las Vegas, owners have not been eager to place a team in the midst of a legalized gambling environment.

In another big reveal last week, Major League Soccer team D.C. United released the revised design for its new 19,000-seat, $300 million Washington, DC, stadium. In March, the D.C. Zoning Commission rejected the original design, calling it "austere" with the look of a prison. The team awarded Turner Construction a $150 million contract for the project in July, representing the team's portion of the stadium costs. The city will contribute the balance, with both parties agreeing to an even split on any overruns up to $20 million. The stadium should be complete in time for the 2018 MLS season, creating about 1,000 construction and permanent jobs in the process.