The Oakland Raiders are gearing up for a major decision from the NFL, which could vote next week on the team’s proposed relocation to Las Vegas.
Starting on Sunday, NFL owners will meet in Phoenix for a period that runs through March 29, during which they could issue a decision on the Raiders’ potential relocation. The proposal in Las Vegas call for a stadium that is constructed as part of a $1.9 billion project, with the State of Nevada contributing $750 million and the Raiders paying $500 million. Earlier this month, the Raiders revealed that they had resolved a major question about the funding puzzle, telling NFL officials that Bank of America was backing the project.
That has set the stage for the NFL to decide whether to permit the team to move. During a meeting with Clark County Commission chairman Steve Sisolak on Wednesday, Raiders president Marc Badain explained how the team is feeling as the potential vote approaches. More from The Las Vegas Review-Journal:
Marc Badain, who has led Raiders owner Mark Davis’ negotiating efforts for 14 months, met Sisolak at the commissioner’s office in the Clark County Government Center, and the two spent three hours together. Sisolak would not comment on whether he believed the franchise has enough votes from NFL owners to move the team from the Bay Area to Southern Nevada, but he said the Raiders are still lobbying for votes.
The league’s annual meeting begins Sunday in Phoenix. A vote to relocate the tradition-rich franchise could come as early as Monday or as late as Tuesday, multiple league sources said.
“I’d say they (the Raiders) are cautiously optimistic but taking nothing for granted,’’ Sisolak said.
Another important matter to be finalized for the Raiders is the relocation fee they must pay the NFL. Owners have not yet specified the amount, but an NFL executive confirmed to the Review-Journal on Wednesday that the figure is between $300 million and $375 million. That’s considerably less than the $550 million the Rams and the Chargers each must pay for their moves to Los Angeles.
In order for the relocation to be approved, 24 of the league’s 32 owners. Following this meeting, NFL owners are not scheduled to gather again until May.
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