Vegas NFL Update
Will the NFL finally come to Las Vegas? This is a big and growing question. As many know, the Oakland Raiders franchise is considering a move to Las Vegas. Nothing is set in stone at this point, but the drive to secure the move is in full swing.
One major player, forgive the pun, in the push to relocate the Raiders is Tim Leiweke. Leiweke is the CEO of Oak View Group. Oak View Group is an L.A.-based entertainment advisory, development and investment company. The fact that he is involved in the process raises the possibility of this move becoming a reality.
Residents have mixed feelings about a pro football team in the city. The traffic is bad enough as it is, some complain. On the positive side, millions of dollars would flow into the Las Vegas economy and it would certainly draw new visitors to the area.
According to the Las Vegas Review Journal:
In just a few months, with Leiweke in the middle of the action, the Raiders’ potential relocation from Oakland to Las Vegas has moved from an entertainment topic to serious business. If a stadium is built and the whirlwind plan becomes reality, Leiweke will play an integral role.
We have to understand the move would bring with it the need for a new stadium. Who would pay for it? Current plans break it down like this. The public would pay $750 million dollars and another $650 million dollars would come from various private sources. More funding would come from the Raiders organization, $500 million dollars, and the Las Vegas Sands/Majestic Realty would chip in yet another $150 million dollars.
Stay tuned for updates as they unfold. We know that at least Tim Leiweke is optimistic at this point, but there is a long way to go.
You can read the entire article by the Review Journal here.