Raiders Propose $1 Annual Rent for New Vegas Stadium
LAS VEGAS (AP) — The Oakland Raiders are proposing a lease for a new $1.9 billion domed stadium in Las Vegas that would have the team pay $1 a year in rent.
The Las Vegas Review-Journal reports that Raiders Executive Vice President Dan Ventrelle called documents presented Thursday to the Las Vegas Stadium Authority a starting point for negotiations.
The 117-page proposal would cover the team's use of the stadium, luxury box seats, concession sales, merchandise and parking.
It also addresses stadium naming rights, advertising and broadcast rights.
A site hasn't been picked for the 65,000-seat stadium.
It would be owned by the authority, with Las Vegas hotel room tax revenues paying $750 million toward construction, the team paying $500 million, and the family of casino magnate Sheldon Adelson contributing $650 million.