The Vegas NFL stadium project that billionaire Sheldon Adelson bailed on in belated January has found a new backer in Bank of America.
The financial institution has apparently agreed to cover the hundreds of millions of dollars in outstanding financing to make sure the $1.9 billion, 65,000-seat domed stadium gets the capital to move forward.
The Oakland Raiders have one of the fan bases that are best in professional football, nevertheless the team seems most likely to Nevada after the Las Vegas NFL stadium discovered new financing.
Oakland Raiders owner Mark Davis is trying to move his expert football franchise to Sin City, but before he is able to make his situation to the NFL’s owners, which he needs three-fourths of their support, he need a satisfactory arena plan in position.
The chances of bringing professional football to the Mojave Desert experienced a significant setback when Adelson exited the venture after he felt Davis went behind their straight back in presenting a lease agreement to the city that relocated forward with or without the Las Vegas Sands tycoon.
Nevada has agreed to fund $750 million of the $1.9 billion build through hotel occupancy taxes generated in Clark County. Davis has pledged $500 million, and Adelson had originally committed $650 million in just what numerous observers called a ‘legacy project’ for the Venetian and Palazzo owner.