Ring Of Sports Marketing

Finance

Nevada Approves $750M In Public Money For Las Vegas Raiders

The Nevada Oversight Committee unanimously approved a $750 million public funding plan for an NFL stadium if the Oakland Raiders were to move to Las Vegas.  Las Vegas is the largest city without a professional football team.  The public funding plan still needs approval from the Governor and go through the legislation process.  A majority of the citizens disapprove of the funding plan.

The Raiders have had two decades of history when it comes to battling cities for stadium deals.  After moving from Los Angeles the Raiders moved to Oakland and have relied heavily on public funding.  When the Rams were given the rights to move to Los Angeles the Raiders were one of the teams left out along with the Chargers.  Considering the ownership group that the Raiders have it is not a surprise that they are making an aggressive move.

Already, the Raiders have applied for the “Las Vegas Raiders” trademark with the U.S. Patent and Trademark Office in multiple classes including but not limited to: helmets, mobile apps, clothing, and entertainment services.

NFL Commissioner Roger Goodell has said that if a move to Las Vegas is approved by the league owners he would not get in the way.

Las Vegas has already been awarded an NHL franchise this year.

Ringside Analysis:

Las Vegas might be the next stalking horse for NFL teams now that Los Angeles has a team.  Los Angeles was previously more valuable to the NFL without a team than with one.  NFL owners were able to essentially hold cities hostage for better stadium deals and public funding by threatening to move to the more lucrative LA market.

Goodell making a public statement that he wouldn’t oppose to a team in LA, which is shocking given his extremely critical view of sports betting, gives more evidence to this theory.

Leave A Comment