It now looks as though NFL team, the Raiders, might be moving to Las Vegas very soon. According to knowledgeable sources, the team has chosen a site to call their new home. Raiders brass is in the process of meeting with the Las Vegas Stadium Authority, whom they hope will approve their proposal. Details of this meeting, as well as other factors associated with the team’s move from Oakland, California, can be seen at http://sports.yahoo.com/m/501498b7-5cd6-34af-be84-eca2e9913675/ss_raiders-pick-vegas-site%2C.html
Some of the news to come out of the Raiders’ lightning-fast meeting with the LVSA bosses is this. The team wants their new stadium to be located on Russell Road, along the west side of I-15 and southwest of the infamous Vegas strip. Yet, despite the apparent positive aspects of these meetings, no lease agreement was signed. The primary reason for this was, it is not certain who will be paying out the $650 million needed to build it. Sources say it remains to be seen whether it will be Sheldon Adelson or Goldman Sachs.
One odd factoid coming out of the proposed move to Las Vegas is that the rent for the Raiders will be set at $1. This is NOT a type-o. Nevada Independent person, Jackie Valley, discovered this when she was examining the user agreement. The team will only need to “pay the Authority the sum of ONE DOLLAR ($1.00) annually as annual rent (the “Rent Payment.”)” Perhaps someone ought to question the sanity of whoever thought up this brainstorm!!!
The Raiders have also made it abundantly clear that they want to control all naming rights. This goes for the stadium itself, as well as the plaza outside of the stadium. They insist upon receiving all revenues associated with the grant, licensing, and additionally, sub-licensing; not to mention the Naming Rights themselves.
Wait, there is more!!! In order for this deal to come to fruition, the Raiders are also demanding that they “keep signage sponsorship revenue.” This means they would keep all of the revenue from the signage at the new stadium. Might they be getting a little carried away with their own self-worth? Will the people of Nevada put up with such demands? That remains to be seen.