Nevada Passes Stadium Deal to Lure NFL’s Raiders

For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...

By William H. Carlile

Oct. 14 — The Nevada Assembly eked out the two-thirds majority needed and passed a divisive $1.4 billion financing package to build an NFL-ready domed stadium for Las Vegas that it hopes will lure the Oakland Raiders.

After a four-day special session, the Assembly voted 28-13 (with one excused) in favor of the deal (S.B. 1) to provide financing for a 65,000-seat stadium that would be funded in large part by hikes to the city’s room tax.

Later Oct. 14, the Senate passed the amended version of the package. Earlier during the special session on the proposal, the Nevada Senate voted 16-5 in favor.

Gov. Brian Sandoval (R) has said he will sign the bill and is expected to do Oct. 17.

“I would like to thank Governor Sandoval, the Southern Nevada Tourism Infrastructure Committee, and the members of the Nevada Legislature on this historic day,” Raiders owner Mark Davis said in a statement. “All parties have worked extremely hard to develop and approve this tremendous stadium project that will serve as a proud new home for the entire Raider Nation.”

Tension Over Move

The Raiders, as a condition of relocating to Las Vegas, would be required to sign a 30-year stadium lease and must commit to the city before the stadium is built. The team would be subject to a lawsuit if it were to break the lease. Team leadership has openly courted the move and said it can build a fan base in the city, which also will soon host a National Hockey League expansion team.

Total maximum investment in the stadium and convention center is $1.17 billion, or $750 million for the stadium, and $420 million for convention center.

NFL owners reportedly have the votes to approve the Raiders’ relocation, although Commissioner Roger Goodell publicly opposes the move. The city of Oakland said Oct. 14 that it will continue to push for a new stadium deal to keep the Raiders in town, where they have played for more than half a century.

To contact the reporter on this story: William H. Carlile in Phoenix at

To contact the editor responsible for this story: Ryan C. Tuck at

Copyright © 2016 The Bureau of National Affairs, Inc. All Rights Reserved.

Request Daily Tax Report