Las Vegas Stadium

Las Vegas Stadium

Artist's rendering showing the front of Las Vegas Stadium with the retractable windows and planned Al Davis memorial torch.
Former names Raiders Stadium
(in early renderings)
Location Paradise, Nevada
Coordinates 36°05′26.7″N 115°11′01.4″W / 36.090750°N 115.183722°W / 36.090750; -115.183722Coordinates: 36°05′26.7″N 115°11′01.4″W / 36.090750°N 115.183722°W / 36.090750; -115.183722
Owner Las Vegas Stadium Authority
(Clark County Commission)
Operator Las Vegas Raiders
Executive suites 100[1]
Capacity 65,000–72,000 (larger events)
Surface Grass
Construction
Construction cost $1.9 billion
Architect MANICA Architecture
HNTB
Structural engineer ARUP[2]
General contractor Mortenson Construction
McCarthy Construction[3]
Tenants
Las Vegas Raiders (NFL) (2020–) planned
UNLV Rebels (NCAA) (2020–) planned
Las Vegas Bowl (NCAA) (2020–) planned
Website
lasvegasstadium.raiders.com

Las Vegas Stadium is the working name for a domed stadium planned to be built in Paradise, Nevada for the Las Vegas Raiders of the National Football League (NFL) and the UNLV Rebels football team from the University of Nevada, Las Vegas (UNLV). It will be located on about 62 acres west of Mandalay Bay at Russell Road and Hacienda Avenue and between Polaris Avenue and Dean Martin Drive, just west of Interstate 15. Construction of the $1.9 billion stadium is planned to begin in 2017 and be completed in time for the 2020 NFL season.

History

2016

In January 2016, reports emerged that Las Vegas Sands was considering developing a stadium in conjunction with Majestic Realty and UNLV, on a 42-acre site owned by UNLV.[4] Raiders owner Mark Davis visited Las Vegas on January 29 to tour the site and meet with Sands chairman Sheldon Adelson and other local figures.[5] A relocation to Las Vegas would be a long-term proposal for the Raiders, as Sam Boyd Stadium is undersized for the NFL and there are no other professional-caliber stadiums in Nevada; the Raiders plan to remain in Oakland until the stadium is complete.

On March 21, 2016, when asked about Las Vegas, Davis said, "I think the Raiders like the Las Vegas plan," and "it's a very very very intriguing and exciting plan", referring to the stadium plan in Las Vegas. Davis also met with Nevada Governor Brian Sandoval about the stadium plan. On April 1, 2016, Davis toured Sam Boyd Stadium to evaluate whether UNLV could serve as a temporary home of the team and was with UNLV football coach Tony Sanchez, athletic director Tina Kunzer-Murphy, adviser Don Snyder and school president Len Jessup to further explore the possibility of the Raiders moving to Las Vegas.

On April 28, 2016, Davis said he wanted to move the Raiders to Las Vegas and pledged $500 million toward the construction of the proposed $2.4 billion domed stadium.[6][7] "Together we can turn the Silver State into the silver and black state," Davis said.[6][8]

In the spring of 2016, the board of directors of Las Vegas Sands rejected Adelson's stadium proposal. Adelson decided to move ahead with the stadium as an individual investment, pledging $650 million of his personal wealth to the project.[9]

The viability of the Tropicana Avenue site was called into serious question in June 2016, when Southwest Airlines objected to the location because its proximity to the northern end of one of McCarran Airport's runways could have a negative impact on the safety and capacity of air traffic at the airport.[10] The list of potential locations soon expanded to nine candidates, including the sites of the Wild Wild West casino, the Wynn golf course, the Riviera casino, the Las Vegas Festival Grounds, and Cashman Center.[11] By September, the list was narrowed to two possibilities: the Bali Hai Golf Club, south of Mandalay Bay, and a vacant lot on Russell Road, just west of Interstate 15.[12]

On August 25, 2016, the Raiders filed a trademark application for "Las Vegas Raiders" on the same day renderings of a proposed stadium design were released.[13] On September 15, 2016, the Southern Nevada Tourism Infrastructure Committee unanimously voted to recommend and approve $750 million for the Las Vegas stadium plan.[14]

Majestic Realty revealed in October 2016 that it had withdrawn from the stadium project.[15]

Sandoval called a special session of the Nevada Legislature to consider the stadium and other tourism-related proposals in October 2016.[16] The funding bill for the stadium was approved by a 16–5 vote in the Senate and by 28–13 in the Assembly, and was signed into law by Sandoval on October 17.[17][18][19][20] The bill increased a hotel tax to provide the $750 million in funding.[19]

2017

2015 view of the stadium site, adjacent to Mandalay Bay and Interstate 15

The Raiders filed relocation papers on January 19 to move from Oakland to Las Vegas.[21] On January 26, 2017, the Raiders submitted a proposed lease agreement for the stadium. It was reported that the Raiders had selected the Russell Road site as the stadium location. Also that the team would pay one dollar in rent and that they could control the naming rights for both the stadium and plaza and in addition keep signage sponsorship revenue.[22]

Days after the Raiders' announced proposal, Adelson dropped out of the stadium project, pulling his proposed $650 million contribution, and shortly after this announcement Goldman Sachs (one of the backers of stadium proposal) withdrew as well.[23] ESPN reported on January 30, 2017, that the Raiders were expected to increase their contribution from $500 million to $1.15 billion.[24]

On March 6, the Raiders revealed Bank of America would be replacing the Adelson portion of the funding.[25]

NFL owners voted to approve the move by a near unanimous margin of 31 to 1 on March 27. Only Stephen M. Ross, owner of the Miami Dolphins, voted against the relocation.[26][27][28] The next day, the Raiders and the Las Vegas Stadium Authority began accepting deposits for season tickets for the new stadium.[29]

The Raiders closed the purchase of the land for the stadium at the Russell Road site on May 1. The purchase price was reported at 77.5 million dollars.[30] In a Las Vegas Stadium Authority meeting on May 11, it was announced that in a joint venture Mortenson Construction and McCarthy Construction will be the developers for the stadium. Mortenson Construction previously worked on U.S. Bank Stadium in Minneapolis for the Minnesota Vikings. The stadium authority approved a stadium lease with the Raiders on May 18.[31] The lease is for 30 years with four successive extension options of five years each.[32]

Financing

The budget for development of the stadium is estimated at $1.9 billion. Of this, an estimated $375 million is to be spent on land and infrastructure costs, $1.35 billion on construction, and $100 million on a Raiders practice facility, with the remaining $100 million as a contingency allowance for unexpected costs.[33][34][35]

The financing for the project is expected to come in the form of $750 million in public funding, $500 million from the Raiders, and $650 million lent by Bank of America.[34] The public portion of the funding will come from municipal bonds issued by Clark County, backed by the proceeds of a special tax on hotel rooms in the Las Vegas area, which was initiated in March 2017.[36] The Raiders' contribution is expected to include a $200 million loan from the NFL's stadium upgrade program, $250 million from sales of personal seat licenses at the stadium, and $50 million from cash reserves.[37]

The government cannot receive any rent or revenue sharing from the stadium, because such an arrangement would not be compatible with the tax-exempt status of the bonds.[38] Proponents instead argued that the public financing would be justified by increased economic activity and tax revenue related to the stadium.[39] Critics have argued that the economic projections were based on overly optimistic assumptions.[40][41]

Design

For the Las Vegas stadium, Mark Davis retained the same architecture firm MANICA Architecture that had designed the previous proposed Carson Stadium in Los Angeles because he liked the design of the stadium for Carson.[42] The stadium as proposed is a domed stadium with a clear roof and silver and black exterior and large retractable curtain-like side windows facing the Las Vegas Strip. There is a large torch in one end that would house a flame in honor of the late long time Raider owner Al Davis.[43]

Updated renderings released after the relocation vote passed show the stadium with a roll-in natural grass field similar to the one at University of Phoenix Stadium in Glendale, Arizona.[44]

Tenants and events

The stadium will replace Sam Boyd Stadium and will serve as the home of both the Raiders and the UNLV Rebels football program. In addition, it will host various events now held at Sam Boyd, such as the Las Vegas Bowl.[45]

Stadium backers project 20 to 25 additional events per year, with plausible possibilities including the Super Bowl, the Pro Bowl, the NFL Draft, the NCAA Final Four, the USA Sevens rugby tournament, the Monster Jam World Finals, boxing matches, Ultimate Fighting Championship events, neutral-site college football games, international soccer matches, concerts, and corporate shows.[46][47]

The stadium has also been cited as the possible home for a Major League Soccer expansion team owned by David Beckham.[48]

See also

References

  1. ↑ "Stadium Proposal" (PDF). Southern Nevada Tourism Infrastructure Committee. Retrieved January 20, 2017.
  2. ↑ https://docs.wixstatic.com/ugd/f9b6c8_5ccfe0acb3714d3ab2207f6b01788267.pdf
  3. ↑ Halter, Nick (May 12, 2017). "Report: Mortenson will build football stadium for Raiders in Las Vegas (slideshow)". Minneapolis–St. Paul Business Journal. Retrieved July 29, 2017.
  4. ↑ Stutz, Howard (January 28, 2016). "Las Vegas Sands proposes $1B domed stadium; Adelson to meet with Raiders owner". Las Vegas Review-Journal. Retrieved March 27, 2017.
  5. ↑ Bradley, Bill (February 1, 2016). "Raiders owner Mark Davis says 'brand would do well' in Las Vegas". Las Vegas Review-Journal. Retrieved March 27, 2017.
  6. 1 2 "Raiders owner willing to give $20M toward Las Vegas stadium". National Football League. Associated Press. April 28, 2016. Retrieved April 30, 2016.
  7. ↑ Gutierrez, Paul (April 28, 2016). "Raiders owner Mark Davis says he wants to move team to Las Vegas". ESPN.com. ESPN. Retrieved April 30, 2016.
  8. ↑ "Oakland Raiders owner willing to spend $500 million to move team to Vegas". Fox News Channel. Associated Press. April 28, 2016. Retrieved April 30, 2016.
  9. ↑ Velotta, Richard N. (August 28, 2016). "Adelson commits personal wealth to back stadium plan". Las Vegas Review-Journal. Retrieved March 27, 2017.
  10. ↑ Rindels, Michelle (July 1, 2016). "Southwest Airlines doesn’t want stadium next to airport". Las Vegas Sun. AP. Retrieved March 27, 2017.
  11. ↑ Morris, J.D. (July 15, 2016). "Scouting report: Examining the pros, cons of potential NFL stadium sites". Las Vegas Sun. Retrieved March 27, 2017.
  12. ↑ Valley, Jackie (September 7, 2016). "As Las Vegas’ NFL stadium marches toward reality, burning questions remain". Las Vegas Sun. Retrieved March 27, 2017.
  13. ↑ Perez, A.J. (August 25, 2016). "Oakland Raiders file to trademark 'Las Vegas Raiders' name". USA Today. Retrieved August 25, 2016.
  14. ↑ "Stadium plan to lure Raiders to Las Vegas passes vote". National Football League. Associated Press. September 15, 2016. Retrieved September 16, 2016.
  15. ↑ Velotta, Richard N. (October 6, 2016). "Majestic Realty bows out of Las Vegas stadium development team". Las Vegas Review-Journal. Retrieved March 27, 2017.
  16. ↑ "Special session kicks off to consider NFL stadium funding". Las Vegas Sun. October 10, 2016. Retrieved January 27, 2017.
  17. ↑ Chereb, Sandra; Whaley, Sean (October 11, 2016). "Raiders stadium project for Las Vegas clears Nevada Senate in 16-5 vote". Las Vegas Review-Journal. Retrieved October 13, 2016.
  18. ↑ "Las Vegas stadium plan gains approval from Nevada Legislature". National Football League. Associated Press. October 14, 2016. Retrieved October 14, 2016.
  19. 1 2 "Nevada governor signs bill to approve Las Vegas stadium plan". National Football League. Associated Press. October 17, 2016. Retrieved October 19, 2016.
  20. ↑ Spousta, Tom (October 17, 2016). "Gov. Brian Sandoval signs Raiders stadium bill — VIDEO". Las Vegas Review-Journal. Retrieved October 19, 2016.
  21. ↑ Around the NFL staff (January 19, 2017). "Oakland Raiders file Las Vegas relocation paperwork". National Football League. Retrieved January 20, 2017.
  22. ↑ Damien, Levi (January 26, 2017). "Las Vegas stadium proposal details revealed: Raiders get naming rights, one dollar rent, pick preferred site, more". Silver and Black Pride. Retrieved July 29, 2017.
  23. ↑ Velotta, Richard N. (January 30, 2017). "Adelsons withdraw investment from proposed Raiders stadium in Las Vegas". Las Vegas Review-Journal. Retrieved January 30, 2017.
  24. ↑ "Raiders boost Vegas commitment to $1.2 billion, operations, risk". espn.com. ESPN. January 30, 2017. Retrieved January 31, 2017.
  25. ↑ Saraceno, Jon (March 6, 2017). "Raiders' Las Vegas Stadium Gets Boost from Bank of America". Las Vegas Review Journal. Retrieved March 26, 2017.
  26. ↑ Rosenthal, Gregg (March 27, 2017). "NFL team owners approve Raiders' move to Las Vegas". National Football League. Retrieved March 27, 2017.
  27. ↑ Raiders Media Relations (March 27, 2017). "Raiders Receive NFL Approval For Las Vegas Relocation". Oakland Raiders. Retrieved March 28, 2017.
  28. ↑ Michael David Smith (March 27, 2017). "Raiders' move to Las Vegas approved". Profootballtalk.com. Retrieved March 27, 2017.
  29. ↑ Gutierrez, Paul (March 28, 2017). "Raiders already taking deposits for season tickets in Las Vegas". ESPN. Retrieved March 29, 2017.
  30. ↑ Velotta, Richard N. (May 1, 2017). "Raiders close purchase on 62-acre stadium site in Las Vegas". Las Vegas Review-Journal. Retrieved July 29, 2017.
  31. ↑ Polacek, Scott (May 18, 2017). "Raiders' Vegas Lease Agreement Unanimously Approved by Stadium Authority Board". Bleacher Report. Retrieved July 29, 2017.
  32. ↑ http://www.lvstadiumauthority.com/docs/2017/05/18/LVSA%20Stadium%20Operating%20Lease%205.17.2017%20(DRAFT).pdf
  33. ↑ Saraceno, Jon Mark; Graney, Ed (February 4, 2017). "How much money do Raiders really need to build Las Vegas stadium?". Las Vegas Review-Journal. Retrieved March 27, 2017.
  34. 1 2 Candee, Adam (March 8, 2017). "What’s behind the $1.9 billion price tag for NFL stadium in Las Vegas?". Las Vegas Sun. Retrieved March 27, 2017.
  35. ↑ Manley, Bridget (March 15, 2017). "New financing rejuvenates Las Vegas stadium". Venues Today. Retrieved March 27, 2017.
  36. ↑ Candee, Adam (March 17, 2017). "Room-tax money for NFL stadium starts to flow before Raiders’ move finalized". Las Vegas Sun. Retrieved March 27, 2017.
  37. ↑ Candee, Adam (March 24, 2017). "Las Vegas stadium loans could leave Raiders feeling financial squeeze". Las Vegas Sun. Retrieved March 27, 2017.
  38. ↑ Velotta, Richard N. (March 7, 2017). "Details of lease agreement between Las Vegas officials, Raiders emerging". Las Vegas Review-Journal. Retrieved March 27, 2017.
  39. ↑ Messerly, Megan; Valley, Jackie (October 5, 2016). "Digging into economic projections tied to a Raiders move to Las Vegas". Las Vegas Sun. Retrieved March 27, 2017.
  40. ↑ Hobson, Will (January 24, 2017). "To lure Raiders, Nevada officials willing to bet big — with public money". Washington Post. Retrieved March 27, 2017.
  41. ↑ Nocera, Joe (October 21, 2016). "N.F.L. Stadium in Las Vegas May Be an Ego Boost, but Not an Economic One". New York Times. Retrieved March 27, 2017.
  42. ↑ "Raiders apply for 'Las Vegas Raiders' trademark; stadium renderings". sports.yahoo.com. Retrieved October 20, 2016.
  43. ↑ "Oakland Raiders pitch a $1.9 billion Las Vegas stadium - Archpaper.com". archpaper.com. Retrieved October 20, 2016.
  44. ↑ Damien, Levi (March 27, 2017). "New video, pics of Raiders Las Vegas stadium renderings". Silver and Black Pride. Retrieved July 29, 2017.
  45. ↑ Bonagura, Kyle (March 31, 2017). "Can Las Vegas become a new destination in college football?". ESPN. Retrieved July 29, 2017.
  46. ↑ Candee, Adam (March 31, 2017). "Beyond the pigskin: What events are needed for stadium’s long-term viability". Las Vegas Sun. Retrieved April 17, 2017.
  47. ↑ Weissberg, Brad (March 29, 2017). "Raiders brand, Vegas brand unite". Venues Today. Retrieved April 17, 2017.
  48. ↑ Straus, Brian (December 12, 2016). "Time ticking on Beckham's Miami MLS team amid deadline, Las Vegas speculation". Sports Illustrated. Retrieved April 17, 2017.
Preceded by
Oakland–Alameda County Coliseum		 Home of the
Las Vegas Raiders
2020–future 		Succeeded by
none
Preceded by
Sam Boyd Stadium		 Home of
UNLV Rebels football
2020–future 		Succeeded by
none
Preceded by
Sam Boyd Stadium		 Host of
Las Vegas Bowl
2020–future 		Succeeded by
none
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