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NFL Signs Off on Raiders’ Las Vegas Stadium Lease

New Las Vegas Stadium

NFL owners have signed off on the Oakland Raiders‘ lease agreement for a new Las Vegas stadium, allowing the project to move forward.

The Raiders and the Las Vegas Stadium Authority had been working to resolve their lease agreement, and hoped to do so before this week’s NFL spring meeting in Chicago. A draft of the lease surfaced last week, and the authority, through a unanimous vote of approval, signed off on the agreement during a meeting on Thursday.

That cleared the way for it to be evaluated by NFL owners, who signed off on the lease in a vote on Tuesday. While that action means that the stadium project has cleared a major hurdle, other steps still need to be completed as the Raiders and the authority attempt to follow a timeline that allows for the stadium to open for the 2020 NFL season. In his remarks after the lease’s approval, NFL commissioner Roger Goodell was eager to express the league’s excitement with the development of the stadium. More from the Las Vegas Review-Journal:

“Approving the lease is another positive step, obviously. We’re very excited about what Las Vegas offers. We know we have doubters and second-guessers, but that motivates us to get it right. We’re excited about the city Las Vegas is and the city it has potential to become. Our job now is to build a great stadium and do what’s necessary to make the Raiders successful there.”

Owners were satisfied enough with the lease in its present form, despite the need for agreements with UNLV over its shared use of the stadium and community benefits and securing the necessary studies and permits.

If the team can break ground by January — as [Raiders owner Mark] Davis and team president Marc Badain said Tuesday remains their goal — the 30-month construction timeline would stay on track for completion.

Badain said the next step is to work with Clark County officials on completing a high impact project report, which assesses all environmental and entitlement issues. Also, in gaining NFL approval on the lease, the Raiders can move forward with financing of the project.

The NFL approved the team’s request to relocate in a previous vote that took place in March.

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