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Report: Raiders Move to Vegas Potentially Falling Through

By George Stockburger

May 11, 2016; Las Vegas, NV, USA; General view of Oakland Raiders helmet and slot machines at the McCarran International Airport. Raiders owner Mark Davis (not pictured) has pledged $500 million toward building a 65,000-seat domed stadium in Las Vegas at a total cost of $1.4 billion. NFL commissioner Roger Goodell (not pictured) said Davis can explore his options in Las Vegas but would require 24 of 32 owners to approve the move. Mandatory Credit: Kirby Lee-USA TODAY Sports
May 11, 2016; Las Vegas, NV, USA; General view of Oakland Raiders helmet and slot machines at the McCarran International Airport. Raiders owner Mark Davis (not pictured) has pledged $500 million toward building a 65,000-seat domed stadium in Las Vegas at a total cost of $1.4 billion. NFL commissioner Roger Goodell (not pictured) said Davis can explore his options in Las Vegas but would require 24 of 32 owners to approve the move. Mandatory Credit: Kirby Lee-USA TODAY Sports /
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Major investors are pulling out of the Raiders relocation to Las Vegas, forcing ownership to make a major gamble to save the project

What was once a sure thing now appears to be on the brink of collapse. Oakland Raiders owner Mark Davis filed the official relocation paperwork mere weeks ago, but recent events have threatened the move to the Sin City.

Casino mogul Sheldon Adelson had previously agreed to contribute a reported $650 million to help fund the construction of a new stadium in Las Vegas. After late negotiations with the Raiders ownership over the final price reached a breaking point, Adelson decided to pull his money.

Adelson released the following statement after deciding to fold on the deal:

"The Oakland Raiders came before the Las Vegas Stadium Authority last week with a proposed lease agreement that has sent shockwaves through our community.It was certainly shocking to the Adelson family. We were not only excluded from the proposed agreement; we weren’t even aware of its existence.In addition to being discouraged by the surprise submission, I was deeply disappointed for the disregard the Raiders showed our community partners, particularly UNLV, through the proposed agreement.It’s clear the Raiders have decided their path for moving to Las Vegas does not include the Adelson family. So, regrettably, we will no longer be involved in any facet of the stadium discussion.While this is not the result my family was hoping for, I am very appreciative of the countless people who have given considerable time and energy to this process, especially so many of our elected officials who have made this a top priority for Southern Nevada."

Clark County Commission Chair Steve Sisolak told the Nevada Independent “This is not a wrench in the wheel, the wheel fell off. This is an enormous setback in my opinion.”

Now, the investment firm Goldman Sachs is reviewing the project and could become involved towards funding the new stadium.

With no long-term plans to stay in Oakland, the Raiders had gone all-in on Vegas after the Chargers took the option to play in Los Angeles.

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