Plenty of uncertainty remains with Raiders and Las Vegas

Plenty of uncertainty remains with Raiders and Las Vegas

The Oakland Raiders informed the NFL's stadium and finance committees on Monday that they have secured financing from Bank of America for their potential stadium in Las Vegas, according to multiple media reports. Last year, the league's L.A. committee voted by a 5-1 outcome that the owners select the Carson location (which would have housed the Raiders and Chargers) over the Inglewood site (which will host the Rams and Chargers). The Raiders are looking to make up $650 million in funding that was lost when casino magnate Sheldon Adelson backed out of the deal in February. Adelson helped spearhead a $750 million hotel tax toward the project, while the Raiders are contributing $500 million.

Now that the Oakland Raiders have an investor lined up for their still hypothetical new stadium in Las Vegas, it appears that the National Football League is about to fast-track its approval.

NFL commissioner Roger Goodell spoke about it at his state of the league address during Super Bowl week, after Adelson withdrew.

Team owner Mark Davis says the Raiders will play in Oakland for two more years no matter what happens with any move, and any new stadium wouldn't be ready until the year 2020 at least.

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The Davis-Adelson marriage was doomed to fail because no one gives $650 million for completely altruistic reasons and Adelson wanted partial ownership in the Raiders, a foot in the door that Davis surmised (probably correctly) would result in the billionaire trying to wrest control of the team.

"I don't see an ownership position in a team from a casino", Goodell said at the time.

Despite this, the banking giant Bank of America chose to fill the void when it was announced on Monday that the company would take over Adelson's role as the biggest investor in the project.

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