NFL American football team the Oakland Raiders’ proposed relocation to Las Vegas moved a step closer yesterday (Thursday) when the Southern Nevada Tourism Infrastructure Committee (SNTIC) voted unanimously in favour of recommending $750m (€671.6m) in public funding for a new stadium in the city.
The SNTIC has recommended that the 65,000-capacity stadium, which is expected to cost $1.9bn, be partially funded by a raise in hotel taxes in the Las Vegas area.
According to the Las Vegas Review-Journal newspaper, the terms of the deal state that the family of Sheldon Adelson – chairman of Las Vegas Sand Corp – and the Raiders will provide $650m and $500m in funding, respectively.
The SNTIC’s proposal represents a significant development in the relocation of the Raiders but further hurdles must be negotiated before the move comes to fruition.
The proposal requires approval from Nevada Governor Brian Sandoval, who has the power to call lawmakers into a special session to vote on the financing plans.
The Associated Press news agency reported that backers of the bid want a decision to be made ahead of a meeting of NFL owners in January. The relocation of the Raiders from California to Las Vegas would require the backing of 24 of the NFL’s 32 team owners.
The Raiders will spend the 2016 season at O.Co Coliseum in Oakland, its home since 1995. The team’s agreement with the ground’s owners also includes the option for extensions into 2017 and 2018. Any relocation would not take place before 2020.
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