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Raiders Las Vegas Stadium Rendering
Tuesday, March 27, 2018 | 3:01 p.m.
NFL owners approved the Raiders’ Las Vegas stadium agreements in a 31-1 vote at their annual meeting in Orlando, Fla. today, one of the final steps in the team’s move from Oakland.
The approval clears the way for the Las Vegas Stadium Authority to sign the agreements Wednesday. The Clark County Commission is then expected to sign construction bonds April 3.
The bonds will be paid by a $750 million public contribution to the $1.8 billion, 65,000-seat stadium project by way of a 0.88 percent tax on Clark County hotel rooms. The rest of the stadium costs will be paid for by the Raiders’ $850 million equity contribution and a $250 million NFL loan.
The stadium should be completed by Aug. 1, 2020.
The vote comes exactly a year after the NFL approved the Raiders’ relocation plan at last year’s annual meeting.
The Raiders have already spent more than $180 million on the project, mostly in land purchases and site excavation, passing the $100 million mark triggering the flow of public funds.
