Raiders reportedly face $378M relocation fee to Las Vegas
The relocation fee required to move the Raiders to Las Vegas was expected to cost team owner Mark Davis somewhere between $325 million and $375 million.
In actuality, the bill is slightly steeper.
Davis will pay $378 million over a 10-year span, according to an ESPN report. The sum, which widens the wallet of all 31 other NFL owners, is the latest gargantuan figure attached to the Raiders’ acceptance of $750 million in Clark County public money and a $650 million Bank of America loan toward a $1.9 billion stadium off the Strip.
The project is currently scheduled to be completed in 2020.
The Raiders will play in Oakland for at least the next two seasons. It has yet to be determined where they’ll play in 2019 after their lease expires at the Coliseum in Alameda, California.
Davis will begin incremental payouts over a 10-year span upon his club’s physical relocation to Southern Nevada.
The $378 million charge is a relative bargain. The Rams and Chargers relocated to Los Angeles in 2016 and 2017, respectively. Each franchise reportedly will be charged $645 million with neither club benefiting off the other’s relocation.
The Raiders will receive relocation money from the Rams and Chargers, softening the sting of their relocation fee.
Michael Gehlken can be reached at mgehlken@reviewjournal.com. Follow @GehlkenNFL on Twitter.
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