Wide gap remains on financing, return options for proposed Raiders stadium

Two financing options are on the table Thursday to determine the fate of a $1.9 billion domed football stadium. A contentious point between the stadium’s developers and the Southern Nevada Tourism Infrastructure Committee has been a call to allocate $750 million in Clark County hotel room taxes to pay for the venue. The family of Las Vegas Sands Corp. Chairman Sheldon Adelson, Majestic Realty and the NFL’s Oakland Raiders haven’t wavered from that figure and last week rejected a provision that would cap the public investment at 39 percent of the total stadium cost. One of the financing options before the committee includes that 39 percent cap and would set the developers’ “preferred return” at 10 percent on up to $650 million. That option also calls for a 50-50 split of the cash flow after the 10 percent return between the developers and a capital improvement fund for the stadium project. It would not allow operating shortfalls or overruns in construction costs to be added to the preferred return calculation.

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