Goldman Sachs now on board, team officials say
Team owner Mark Davis, above, says financing is in place for Las Vegas stadium, with or without help from casino mogul.
Raiders executives have told the Las Vegas Stadium Authority board that investment bank Goldman Sachs has guaranteed the necessary financing for a move to Las Vegas. That’s with or without casino mogul and prospective partner Sheldon Adelson, according to the Las Vegas Review-Journal.
Adelson “has had some differences with the Raiders,” a league source said, after Adelson played a key role in getting Nevada lawmakers to pass legislation that would contribute $750 million in public money to a proposed $1.9 billion stadium project. Adelson pledged $650 million to the 65,000-seat venue, with the Raiders and NFL responsible for the remaining $500 million.
Raiders owner Mark Davis continues to meet with Adelson. Tom Blanda, team senior vice president of stadium development and operations, told the Review-Journal on Thursday that he is optimistic the matter will be resolved within a month.
“Negotiations are proceeding and we’ll see if we come to an agreement with the (Adelson)
family. I’m not really sure who else we’ll talk to,” Blanda told the paper. “We’ll see how things resolve themselves.”
When contacted by The Chronicle, Blanda referred to the ReviewJournal story. Raiders President Marc Badain declined comment.
Adelson is the chairman and CEO of Las Vegas Sands Corp. His family owns the ReviewJournal.
Steelers owner Art Rooney II told the paper that owners were told that the Raiders had secured a no-Adelson option at a Wednesday meeting in New York.
There has been speculation that Adelson will attempt to purchase a piece of the Raiders, but Rooney on Wednesday cited rules and policies that would prohibit a casino owner from owning a franchise.
A vote on the Raiders’ move is not expected until the owners’ annual meeting in Phoenix in late March. Davis needs 24 of the 32 owners to approve.
Officials in Oakland reached a land deal in November with a group backed by Fortress Investment and led by former 49ers and Raiders defensive back Ronnie Lott.
“We have delivered to the Raiders a stadium that will be privately financed and is responsible to the taxpayers in one of the most valuable NFL markets in the country with the most amazing fan base and legacy that any football team could ever dream of having,” Oakland Mayor Libby Schaaf said Wednesday.
Davis has shown no interest in the Lott deal, saying it’s too little, too late.