With the NFL owners vote just three weeks away, Raiders owner Mark Davis and president Marc Badain have informed the NFL that they have their investor for their proposed Las Vegas stadium. That investor will be Bank of America.
B-of-A’s inclusion is to fill the $650 million gap left by the departure of Las Vegas Sands Co’s Sheldon Adelson who backed out of the deal last month when the Raiders made their proposal to the Las Vegas Stadium Authority.
Initially Davis had guaranteed that should Adelson back out, Goldman Sachs would step in. But when Adelson left, Goldman Sachs said no dice, and thus leaving the team’s hopes for relocation to Vegas on shaky ground.
Soon afterward, though Davis and the Raiders insisted there were more than one potential investor interested in taking the baton on backing their bid.
Three weeks may not be enough time for the league to make a thorough evaluation of all the details of this new arrangement, which means it’s possible an official vote will not take place on March 26 at the owners meetings in Arizona, but instead be delayed. How long that delay would be is uncertain. It could be rescheduled for May when the owners meeting again in Chicago, or it could be longer.