Thread: Casino mogul Sheldon Adelson pulls out of deal for Raiders' move to Las Vegas

LAS VEGAS -- Casino mogul Sheldon Adelson has pulled out of a plan to build a $1.9 billion domed stadium for the NFL's Oakland Raiders to move to Las Vegas.

In a terse statement on Monday, Adelson declared that he had been excluded from talks before the team sent a lease proposal last week to the public board that will own the 65,000-seat stadium.

Adelson's name was not part of the Raiders relocation application, according to a source.

Adelson says his family and Las Vegas Sands "will no longer be involved in any facet" of the plan.

The Raiders issued a statement to the Adelson family after pulling out of the stadium project.

"The Raiders deeply appreciate the efforts of the Adelson family to bring the Raiders to Las Vegas. We know this project could not have advanced to this point without them. The Raiders remain steadfast in honoring Mark Davis' commitment to Governor Sandoval and the State of Nevada to pursue relocation to Las Vegas."

Adelson had pledged $650 million and the Raiders $500 million, with the stadium authority putting up $750 million in Las Vegas tax revenues.

Nevada Gov. Brian Sandoval's office says the proposal now is for the Raiders to invest $1.15 billion and accept operating responsibilities.

http://www.espn.com/nfl/story/_/id/1...move-las-vegas

interesting, looks like the Governor may have swayed Davis into a different deal. Going to be a lot of pockets being lined in Vegas with this move.

Sheldon Adelson is a terrible person and a smarmy business man - so it's unfortunate that he couldn't find a way to partner with the Raiders, who would have been a perfect match for him.

The Oakland Raiders' bid to relocate to Las Vegas has hit another financial roadblock that could put the team's planned move to the desert in jeopardy, a source told ESPN's Ramona Shelburne.

With billionaire casino mogul Sheldon Adelson angrily withdrawing from the Raiders' stadium deal on Monday, investment bank Goldman Sachs is also re-evaluating its relationship with the planned deal, a source close to the negotiations told Shelburne.

Adelson had previously committed $650 million to get the $1.9 billion project completed but announced the removal of his stake in a statement Monday.

rest - http://www.espn.com/nfl/story/_/id/1...es-involvement

lol

How does one withdraw a COMMITMENT? Aren't oral contracts binding in most states if witnessed? Presumably the governor would qualify as a witness (though whether he'd want to cross Adelson's another matter; re-election campaigns and luxury travel accommodations don't pay for themselves....)

The Raiders did it again: They broke another city’s heart.

This is what they do. This is what they always do.

Right now, it doesn’t look like the Raiders are going to be heading to Las Vegas.

And Oakland doesn’t seem to want to pony up any money to keep them.

And Los Angeles can’t take on another team.

And San Diego? It can’t afford them.

The Raiders are stuck in limbo, and it’s not surprising when you take a close look at that franchise.

The Raiders are on the fringe of the NFL. Yes, they’re technically a member, but it doesn’t feel like they have full membership privileges, does it?

The owner, Mark Davis, has no money. So he’s waiting on someone to build him a new stadium somewhere, anywhere.

rest - http://www.foxsports.com/nfl/story/t...e-to-go-020217

LOL @ Raiders

Originally Posted by weazel

LOL @ Raiders

It's perfect.

Almost brings a tear of joy to my eyes.

I hear San Diego may jump in and bring the Raiders there. The "San Diego Raiders". It just doesn't feel right.

San Antonio Raiders? I remember when Al Davis was suggesting that possibility before he passed away.

Tokyo Raiders

Reno Raiders

Originally Posted by Al Wilson 4 Mayor

Tokyo Raiders

So they would be changing their logo to a B-25?

Originally Posted by FanInAZ

San Antonio Raiders? I remember when Al Davis was suggesting that possibility before he passed away.

This still makes the most sense. It's not only the nations 2nd most populous state, but one that treats even HIGH SCHOOL football as a religion, plus they'd have the media market and stadium revenue of a major US city, with >1 million more residents only an hours drive distant. Ask the Spurs how naturally rivalries with Houston and Dallas teams develop from that.

Plus I'd no longer be annoyed by the spectacle of a football-obsessed state with 7 MILLION more people having fewer NFL teams than NY and FL.