LAS VEGAS (KXNT) – It’s 4th down and long, but the Oakland Raiders are choosing to go for it, even after losing an important financial investment partner in the deal to build an NFL stadium in Las Vegas.
A dispute over demands by the Oakland Raiders led the family of Las Vegas Sands chairman Sheldon Adelson to pull out of its deal to finance a new domed football stadium.
Sands executive Andy Abboud tells the Review-Journal both sides were close to a deal, but the Raiders were seeking more than what was agreed to.
Abboud claims Adelson was “willing to share revenues” with the NFL team, but the Raiders were “picking his pocket.” He saidthe final straw came when the team submitted a proposed lease agreement to the Las Vegas Stadium Authority Board without consulting the Adelson family first.
Raiders president Mark Badain has refused comment on the negotiations, but told the Stadium Board last week that “multiple financial institutions” are interested in picking up the slack.
The Adelson family withdrew its $650 million commitment to build the nearly $2 billion stadium, with the Raiders and a room tax hike covering the remaining cost. NFL owners could vote on relocating the team from Oakland to Vegas next month.