clock menu more-arrow no yes mobile

Filed under:

Mark Davis pledges $500 million toward proposed Raiders Las Vegas stadium

New, comments
Jared Wickerham/Getty Images

This morning Raiders owner Mark Davis, alongside soccer great David Beckham and Billionaire casino owner Sheldon Adelson appeared before the Southern Nevada Tourism and Infrastructure Committee to talk about funding a new stadium. The entire project would cost $1.33 billion, of which Davis says he would pledge to contribute $500 million.

That's a hefty amount to come out of Davis' pocket and it shows just how serious he is about moving to the team to the silver state should Oakland continue to be unable to put forth a viable plan to keep the team.

Of the $1.33 billion, Davis and Las Vegas Sands Casino Group is proposing $650 million would come from private funding (roughly half the cost), with the remaining portion coming from public funding in the amount of $50 million per year in tourism taxes.

"We know what the NFL is looking for," Davis told the committee. "I believe if we give them an offer they can't refuse and that's what we are talking about right now, I don't see a problem. We'll fight for it."

Davis expressed confidence that he could get the backing from NFL owners to approve the move to Vegas.

"We would put this on the fast track," Davis said. "We will be committed to you, if you are committed to us....I think we have support of some of the people in the NFL."

He would again need to get the vote of at least 24 NFL owners to make the move just as he was unable to get in his previous bid to move to Los Angeles last January.

"The Raiders would like to thank the Southern Nevada Tourism Infrastructure Committee and Mayor Goodman for their time today as we continue to explore options for a permanent stadium solution. We appreciate the support and passion of Raiders fans everywhere," the team said in a statement following the meeting Thursday.