Raiders, Adelson family fine-tuning stadium development details
The Oakland Raiders and the Adelson family have begun fine-tuning details of a stadium development deal they will present to the National Football League and the Las Vegas Stadium Authority.
The team also reiterated assurances that its focus is on relocating the team to Las Vegas and that a stadium proposal advanced this week by the Alameda County Board of Supervisors and the Oakland City Council isn’t economically viable.
Meeting on Thursday in Las Vegas, Raiders executives and several Adelson family members, including Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson, discussed details from stadium naming rights to parking revenue to locker-room design, said Andy Abboud, vice president of government relations and community development for Las Vegas Sands.
Clark County Commission Chairman Steve Sisolak also attended the meeting and tweeted afterward, “Had a great meeting today with the Raiders and the Adelson family. Both are working very hard to finalize a complicated deal.”
Had a great meeting today with the Raiders and the Adelson family. Both are working very hard to finalize a complicated deal.
— Steve Sisolak (@SteveSisolak) December 16, 2016
Sisolak said the meeting, attended by Raiders President Marc Badain and Dan Ventrelle, one of the team’s attorneys, was conducted in Adelson’s office at The Venetian.
Much of the discussion centered around the process that lies ahead as the Raiders prepare to file a request with the NFL to relocate the team from Oakland to Las Vegas. That request is expected to be made in January, prior to owners’ meetings preceding Super Bowl 51 in Houston.
Abboud explained that the Raiders and the Adelson family, as developers of the planned $1.9 billion domed stadium, must come to an agreement on a variety of issues. Discussions included interior and exterior stadium design concepts, pour contracts, including the types and brands of beverages to be served, concession contracts and prospective parking revenue.
They’ll also review possible stadium sponsorships and naming rights agreements.
The details of their prospective plans were not disclosed, but they will be reached to present to both the NFL and the Stadium Authority. Abboud said the NFL is interested in estimated revenue streams and could demand that it be included as a beneficiary.
Once the NFL signs off on the final agreement, it also must go to the nine-member Stadium Authority, which would call for bids and work with contractors as the owner of the stadium.
The Stadium Authority is still in the formation process, with seven voting members and one non-voting member. Noon Monday is the deadline for applications for two authority members to fill out the nine-member board. The authority also has a 3 p.m. Monday deadline for requests for qualifications for legal representation. And, on Tuesday, the Clark County Commission will consider issuing a loan to the Stadium Authority to begin business operations.
Another key decision in the authority’s hands: choosing the location of the stadium.
Abboud said the developers’ preferred site remains four parcels totaling more than 62 acres bordered by Russell Road, Hacienda Avenue, Polaris Avenue and Dean Martin Drive. It’s just west of Interstate 15 and the Mandalay Bay resort.
The Raiders have an option to acquire the land, which had a listed value of $40 million. The Raiders have not announced a purchase price.
Sisolak said he urged both sides to release updates on the stadium deal’s progress to the public more frequently.
“We’ve been getting all of this information coming out of Oakland with their attempts to keep the Raiders, and it’s not being countered or balanced with any information coming out of Las Vegas,” Sisolak said. “I thought it was important for more people to understand it’s moving forward, and it is.”
Sisolak said both sides assured him they would do more to keep the public informed on the deal’s progress.
Sisolak also discounted reports that Adelson and the Raiders are at odds.
“I was there for more than an hour and they were all very professional, very sociable and I think it was a really productive meeting,” Sisolak said.
Abboud also said there’s no truth to reports that Adelson is interested in an ownership stake in the Raiders.
“The NFL has made it very clear that that’s not going to happen,” he said.
Review-Journal reporter Michael Scott Davidson contributed to this report.
The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.
