The Raiders received approval from Nevada legislature earlier today on their proposal to allocate $750 million in hotel tax toward a new stadium in Las Vegas. With the plan getting passed in the Senate, 16-5, and the Assembly, 28-13, this week, the bill is now headed to Nevada governor Brian Sandoval, who is expected to sign it on Monday.
After receiving approval from Nevada lawmakers, Raiders owner Mark Davis released the following statement:
Even though Davis appears incredibly confident that the Raiders will be going to Las Vegas, the franchise still needs to have their relocation plan approved by, at least, 24 of the league's 32 owners. On October 18, the stadium's primary backer, Las Vegas Sands Corp. CEO Sheldon Adelson, and his group are expected to present the plan to the NFL owners at their fall meeting.
The 65,000-seat, $1.9 billion stadium is expected to receive $650 million from Adelson with Davis pledging $500 million. If everything goes as planned, the stadium would be completed in 1919, and shared with the University of Nevada, Las Vegas football team. In 2020, the Raiders would play their first game in Las Vegas.
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