Raiders Owner Mark Davis Says Team is Moving to Las Vegas
It looks like the Raiders are headed to Las Vegas. At least, that's the plan.
Owner Mark Davis informed informed fellow owners on Wednesday (Oct. 19) that he plans to file papers in January to move his team from Oakland to Las Vegas, reports ESPN.
"Mark Davis said that he was committed to Las Vegas 100 percent, and that there were several market studies being done by the Raiders," one source said.
After failing to make progress with Oakland officials over the last few years, and losing out on a move to Los Angeles to the Rams, Las Vegas has committed $750 million in public money toward building a new stadium.
ESPN's report says that Nevada lawmakers approved a deal last week to increase hotel taxes in the Las Vegas area to raise $750 million for a stadium, as well as another $400 million+ to expand and upgrade the Las Vegas Convention Center. Billionaire casino owner Sheldon Adelson is putting $650 million toward the project, while the Raiders and the NFL will contribute $500 million.
While Davis has made up his mind, any relocation needs approval from three-fourths of the 32 NFL owners.
On another note, the Raiders could also join the Rams in Los Angeles, where a new facility is being built. They would have that option should the Chargers, who have the first option, remain in San Diego, a decision that team must make by mid-January.