Las Vegas Sun

September 19, 2018

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Final cost of Raiders stadium in Las Vegas pegged at $1.8 billion

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Copyright 2017 LV Stadium Company, LLC

This rendering shows the Las Vegas Raiders stadium west of Interstate 15 and the Strip. Construction on the 65,000-seat stadium is expected to be completed in time for the 2020 NFL season.

The guaranteed maximum price for the planned 65,000-seat domed Las Vegas Raiders stadium came in at $1.8 billion, according to documents released Wednesday by the Las Vegas Stadium Authority.

The revised budgeted price — different from the previously used figure of $1.9 billion that accounted for the $100 million Henderson practice complex — comprises the Raiders' equity contribution of $850 million, public funding from Clark County hotel room taxes of $750 million and $200 million from the NFL's "G4" loan program, whose funds are said to come from the league’s general pool of revenue.

Construction of the stadium makes up the biggest chunk of the stadium costs at $1.39 billion. Documents show the stadium is expected to be completed by Aug. 1, 2020.

The stadium builders, McCarthy Building Cos. and Mortenson Construction, and the Raiders will present the price Thursday to the authority.

Thursday’s meeting is expected to yield finalized stadium documents to send to the NFL owners meeting that runs Sunday through March 28.

The stadium authority is expected to meet March 28, when it will ask the county to issue construction bonds for the project. The Clark County Commission next meets April 3, when it can consider the issuance of bonds.

Senate Bill 1 states the Raiders must spend the first $100 million on the stadium project before receiving any public money generated by a 0.88 percent room tax on hotel rooms in Clark County.

Documents show the Raiders have met that threshold, already spending almost $180 million on the project to date.