LAS VEGAS (AP) — The Oakland Raiders would not pay rent at the proposed stadium they want to use in Las Vegas.
A draft of a lease agreement calling for no rent was unveiled during a Thursday gathering of the public entity overseeing the proposed $1.9 billion project.
Las Vegas Stadium Authority board chairman Steve Hill has said the entity, which would own the stadium, cannot receive any revenue because it could cause bonds for the project to lose their tax-exempt status.
A previous version of the lease agreement called for a $1 annual rent.
The Raiders paid $3.5 million in rent to play at Oakland-Alameda County Coliseum in 2016, up from $925,000 for the 2015 season.
NFL league owners approved the Raiders relocation last month. Raiders president Marc Badain says the Raiders have received thousands of deposits for personal seat licenses. Guests of hotels and other lodging facilities in the Las Vegas area are covering $750 million of the $1.9 billion project through a room tax increase.
Badain also said the team will announce its third-day draft picks from the “Welcome to Las Vegas” sign next week.