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Raiders' Move to Las Vegas Approved by NFL Owners

Y2kTheNewOldies

Y2kTheNewOldies

http://www.hollywoodreporter.com/news/raiders-move-las-vegas-approved-by-nfl-owners-989027

Coming soon to Vegas the Raiders!

The vote was a foregone conclusion after the league and Raiders were not satisfied with Oakland's proposals for a new stadium.
NFL owners approved the Oakland Raiders' move to Las Vegas at the league meetings on Monday.

The vote was a foregone conclusion after the league and Raiders were not satisfied with Oakland's proposals for a new stadium, and Las Vegas stepped up with $750 million in public money. Bank of America also is giving Raiders owner Mark Davis a $650 million loan, further helping convince the owners to allow the third team relocation in just over a year.

Owners voted 31-1 to approve the move. The dissenting vote wasn't immediately announced.

The Rams moved from St. Louis to Los Angeles in 2016, and in January the Chargers relocated from San Diego to LA. The Raiders likely will play two or three more years in the Bay Area before their $1.7 billion stadium near the Las Vegas strip is ready.

Las Vegas, long taboo to the NFL because of its legalized gambling, also is getting an NHL team this fall, the Golden Knights.

"Today will forever change the landscape of Las Vegas and UNLV football," said Steve Sisolak, chairman of the Clark County Commission and a former member of a panel appointed by the Nevada Gov. Brian Sandoval to study the stadium tax funding plan.

"I couldn't be more excited for the fans and residents of Clark County as we move forward with the Raiders and the Rebels," Sisolak said.

Oakland Mayor Libby Schaaf and a group trying to keep the team in Oakland, made a last-ditch presentation to the NFL last week. But that letter was "filled with uncertainty," according to Commissioner Roger Goodell.
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Wonder where on the strip it would go. They built the new hockey arena behind New York New York. I guess with this kind of money, they could build it anywhere. There's empty land between the airport and the MGM Grand. Not exactly on the strip, but close enough.

So Las Vegas is finally going to be the home to actual professional teams, not just a place to bet on them. Makes sense to me. It's still a growing area, and a big hub for travelers. So as I said about the hockey team, this would be a logical place for fans of AFC teams to go and see their favorite team play the Raiders.
 
There are likely going to be more hiccups with the construction of a new stadium.
They could find themselves playing in a substandard college stadium for a long time.
 
umfan said:
More public money subsidizing lavish new digs for an NFL team. I really wish this trend would stop.
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In Las Vegas, nearly every large public money move is predicated on how the expenditure benefits tourism. In the case of pro sports, there is a huge payback to the local economy as many of the casinos have already committed to purchasing boxes and buying tickets to be used as comps for the high rollers.
 
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FreddyE1977 said:
After this announcement likely not more than 5000 people are showing-up for those games.
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I would like to know what proportion of total team revenue is derived from ticket sales. I think you're right, though. Most of the total ticket sales will be from diehard fans that travel with the visiting team.

I suspect Davis will be playing "small-ball" the next two years. He'll pay salaries at the required minimum levels. But that's just my outsider's look at things. Someone who is more informed on the economics of pro football may have a more informed opinion.
 
The NFL is a salary cap league, that has a payroll floor as well as a ceiling.
He won't be able to cut the payroll below minimums. May not want to either as
the Raiders finally started to shape into a decent team last season. The Rams showed
how you can fall on your face when you limp into a new market with a bad team.
 
DavidEduardo said:
many of the casinos have already committed to purchasing boxes and buying tickets to be used as comps for the high rollers.
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Exactly and what many don't know is that MGM Grand was behind the building of the new T-Mobile Arena, and will use it as it used to use its internal theaters, like the Garden Arena, for those high rollers, and as a show place to compete with other venues in Caesars or The Wynn. New branding opportunities, new growth, and broadening the footprint beyond their own internal venues.
 
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