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Raiders Wrap up Lease Discussions with Stadium Authority

New Las Vegas Stadium

It appears that the Oakland Raiders and the Las Vegas Stadium Authority are close to reaching a lease agreement, as the sides have ended discussions.

More details on the deal are expected to be revealed on Thursday, when the authority could vote to move forward with the agreement, but it has been reported that the Raiders and authority concluded their dicussions on Tuesday. That came after the two sides spent considerable time discussing the lease, one of the key documents needed to ensure that stadium plans to remain on track.

If a vote does not take place Thursday, it could happen on Monday, when the Authority is scheduled to conduct another meeting. Regardless, both the Raiders and the board are looking to have the framework in place soon, not only because NFL owners want to review the lease later this month, but also to keep the rest of the project on schedule by assuring that other stadium-related tasks can be completed. More from The Las Vegas Review-Journal:

Approval of the lease agreement requires a simple majority vote of the nine-member board. Should the board fall short of the votes needed for approval, the matter has been placed on the agenda of a previously scheduled Monday meeting, at which the board will consider the authority’s 2017-18 budget.

It’s important for the lease agreement to be approved by the authority soon. Raiders President Marc Badain said Thursday that NFL owners are meeting in Chicago on Monday and Tuesday and want to review the lease deal then. A delay could push the matter to the owners’ next meeting in October, when it would be too late to get the stadium completed in time for the start of the 2020 NFL season.

[Jeremy] Aguero said the lease agreement is a framework necessary for several other document reviews that can be worked on over the next four months. Among them: Clark County’s High-Impact Project approval, a joint-use agreement with UNLV for the Rebel football team to use the stadium, the Nevada Department of Transportation project review and a community benefits plan that will assure contracts to Nevada small businesses.

Under a recently-released timeline, construction of the new Las Vegas stadium is slated to begin in January 2018 and be completed in June 2020. That would leave months to spare between the completion of the construction process and the Raiders’ first games at the facility. In March, NFL owners approved the Raiders’ request to relocate.

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