Industry News

Oakland Raiders agree deals for Vegas headquarters, stadium

The Henderson City Council has approved a resolution offering the Oakland Raiders the opportunity to purchase a 55-acre site of land to build a new practice facility and corporate headquarters near the Henderson Executive Airport, while Clark County commissioners have also given the NFL American football team the green light to build a 65,000-seat stadium in Las Vegas.

The minimum price for the practice facility and headquarters has been set at $6.05m (£4.5m/€5m). The property is set to create an estimated 250 full-time jobs for non-players. The space will also receive $75m worth of investment.

Should the Raiders agree to move forward with the purchase, a public meeting will be held on February 6 for the City Council to consider an offer for the property and to possibly approve a binding purchase and sale agreement between the buyer and the city.

Henderson Mayor Debra March said: “Return on investment is very important and we’re making an investment in the Raiders by voting to move forward. There is going to be a significant economic impact to our community, creating new tax revenue. And by creating more jobs in our community, people can stay in our community to live, work and play, which has been one of our goals – to allow people to remain near their homes and to be able to have a job. So, I think there’s a huge return on investment for the investment that the City of Henderson is making.”

The Raiders are poised to move from California to Nevada and the team is hopeful of starting the 2020 NFL season in Las Vegas. The team yesterday (Wednesday) signed an agreement with Clark County commissioners that paves the way for the construction of the stadium.

The Las Vegas Review-Journal newspaper notes that the agreement dictates that the Raiders will pay for the improvement of infrastructure and public safety both in and around the stadium, which is set to cost about $1.9bn.

The Raiders will be responsible for ensuring streets are widened, improving roadways and, according to the Review-Journal, it is likely that a pedestrian bridge will be built to link the stadium to the Mandalay Bay resort on the Las Vegas Strip.

According to the Associated Press news agency, about $1.4m worth of public safety equipment will be installed at the stadium.

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