Sheldon Adelson<\/a> in January 2016 about getting his financial backing for a new 65,000 seat stadium. The casino magnate agreed and said he would put up $150 million of the then proposed $1.4 billion cost. He later increased that amount to $650 million. Davis would provide $500 million from a Goldman Sachs loan and a hotel tax would fund the rest.<\/p>\nSlowly owners of other NFL organizations began to warm to the idea of a football team in a town that offered sportsbetting. Jerry Jones, Robert Kraft, and Stan Kroenke, owners of the Cowboys, Patriots, and the now-Los Angeles Rams, all publicly declared their support for\u00a0the Raiders move from Oakland.<\/p>\n
One person who didn\u2019t like the idea was NFL Commissioner Roger Goodell. He was a staunch opponent of sportsbetting and sternly voiced his opposition to the plan.<\/p>\n
Setback, Then Success<\/h2>\n
By January of 2017 it looked like Goodell might get his wish. Adelson pulled out of the project taking his pledge of $650 million with him. Goldman Sachs then announced they were pulling its financing for Davis\u2019 $500 million. Suddenly Davis was without more than half of the funds for the now budgeted $1.9 billion stadium and the deal was in danger of falling apart.<\/p>\n
It took two months but Davis found another backer, getting Bank of America to pony up Adelson\u2019s share and his loan at the beginning of March. The only detail left was approval by the owners. That happened three weeks later at the owners meeting in Phoenix as they voted 31-1 in favor of the move with only Miami Dolphins owner Stephen M. Ross dissenting.<\/strong><\/p>\nThe Raiders would move to Las Vegas for the 2020 season and Davis was exuberant after the decision.<\/p>\n
\u201cMy father used to say that the greatness of the Raiders was in its future,\u201d Davis said. \u201cThe opportunity to build a world-class stadium in the entertainment capital of the world will give us the opportunity to achieve that greatness.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Much to the delight of Las Vegas football fans and city officials, the Oakland Raiders became the second major professional sports team to decide to make the eventual move to southern Nevada this year. The NFL team joined the NHL\u2019s Vegas Golden Knights in Southern Nevada, though its road to the Strip was a lot […]<\/p>\n","protected":false},"author":42,"featured_media":63037,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,16,1074],"tags":[],"acf":[],"yoast_head":"\n
Las Vegas Hits NFL Jackpot in 2017 on Oakland Raiders Decision to Move<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n