The 2017 NFL Betting Jackpot Takes Place In Las Vegas, Oakland Raiders Decides To Relocate. The past 12 months have bad and good in equal measure. Nevada Sands casino magnate Sheldon Adelson makes a promise. He utters words that he is not ready to fulfill. Maybe Adelson finds something better than investing in Oakland Raiders . That is bad news. Nonetheless, the team finally decides to move. Moving the team down to Nevada is not an easy thing for Mark Davis. Things become a lot bumpier when the casino magnet pulls out.
2018 NFL Betting Jackpot Takes Place In Las Vegas, And Oakland Raiders Decides Relocate
Even US online sports betting experts understand Mark needs to look for another alternative financing. In the end, the team joins Las Vegas Golden Knights at the south. It is not easy. The idea of moving down south starts when Al Davis is still alive. The year is 2009. The aim is for the team to find a new stadium. But things are not easy. Getting a new stadium is a lot more painful for the team when the founder Al Davis dies. His some Mark Davis takes over the team. It is during this time that Mark approaches Adelson. The casino magnet agrees to help. He says he will finance the team moving south.
Nothing is as easy as speaking. That is what Sheldon does. He promises the team that he will move it to the south. But that is not what he does. Davis finds himself in a hard place. He doesn’t have the luck like his father. 2013 is the year which the lease expires. Therefore, the team will no longer share a field with another team That is the reason Davis has to look for alternatives. Things are not going on well. In 2015, the team applied to NFL for relocation. But the application does not go through.
The Actual Cost Is Much More Than $150 Million
Instead, two others teams get a go ahead. The only remaining option is for the team to come to the south. Word goes around. It is even louder when Davis meets Sheldon. Above all, this is happening in January 2016. When Sheldon listens to Davis about his interest in Sin City, he is happy. Things look promising for Davis and his team. Sheldon promises to pump in $150 million. The project is to put up a 65, 000 seat stadium in Sin City. According to the proposal Davis presents, it will cost $1.4 billion.
Sheldon Adelson Pulls His $650 Million Out Of Las Vegas Raiders Project
Shortly afterward, things seem to be even better. Adelson says that he will up the contribution to $650 million. On his part, Davis is to put $500 million into the project. The remaining amount will come from a hotel tax. In the end, the project will be Davis and Sheldon. Davis’ money comes from a Goldman Sachs loan. It is not his savings. A couple of days later, Cowboys, Patriots, and Rams heads support the bid. But NFL Commissioner Roger Goodell is not happy. He hates sports betting. He makes sure that his voice in opposing the plan is loud and clear.
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Adelson finally pulls off his bid so as the Goldman Sachs. It is hard for Davis who remains with his meager funds. But he eventually gets Bank of America backing his bid. For now, the budget is $1.9 billion. As Sheldon Adelson leaves, Davis is bringing Oakland to Las Vegas.