Design For Proposed NFL Stadium In Las Vegas Released
The controversial plan to build a new 65,000-seat stadium in the southern Nevada desert in order to entice the Oakland Raiders NFL franchise to Las Vegas has taken another step forward following the release of plans for the?proposed $1.9 billion structure.
According to a report from Yahoo Finance, the new stadium from Kansas City-based designer Manica Architecture and casino magnate Sheldon Adelson would feature a retractable roof while the design is to additionally see a regulation-size field overlooked by raked seating and leisure areas.
Adelson is Chairman and Chief Executive Officer for Las Vegas Sands Corporation and has partnered with developer Majestic Realty in hopes of bringing the NFL to Las Vegas. But, the 83-year-old, who is ranked as the 15th richest man in America with assets of around $30 billion according to last year’s Forbes 400 list, wants $750 million in public funding in order to make the dream a reality.
As previously reported, Adelson has suggested raising this cash by instituting a 0.9% hotel room tax on all Clark County properties and these funds would be joined by $650 million of his own cash alongside $500 million from Oakland Raiders owner Mark Davis, which would include a $200 million loan from the NFL and the likely proceeds from the sale of the stadium’s personal seat licenses.
“This is not something that I have to do,” Adelson told Yahoo Finance. “I’m doing it because we see there could be some advantages to the whole community, not necessarily on the NFL side because it’s very difficult for us to make any money from the stadium just with the NFL team. The only opportunity for us to make money is from activities other than football.”
Adelson declared that the new stadium could also host concerts along with mixed martial arts, boxing, college football and Major League Soccer events while casino and hotel operators would be offered the opportunity to package their rooms featuring “prime seats”.
“The last fight between Mayweather and Pacquiao could have filled a football stadium [as] it was in extremely high demand,” Adelson told Yahoo Finance. “And we think we could bring in premier league soccer teams like Manchester United, Chelsea, Arsenal, Liverpool, Barcelona [and] Real Madrid. They could come in and do their friendlies and that would bring crowds. It’s a tourist attraction like conventions are a tourist attraction and all the other hotels could do that too. They could buy tickets to the events and offer to their guests. I’m not monopolizing the tickets.”
Regarding the location for the proposed stadium, two sites are reportedly under consideration including a compact plot across Interstate 15 from the Mandalay Bay Resort And Casino. A second and larger potential site includes part of the nearby Bali Hai Golf Club and would feature an exclusive surface parking area.
“The part of the year that is slow profit-wise in Las Vegas is the summer and November to December,” Adelson told Yahoo Finance. “We have an opportunity to improve that. We can fill our rooms during the slowest time of the year. In college football, that’s the busy season. So we could have a concert on a Friday night, a college game on Saturday and an NFL game on Sunday and nobody’s coming in for one day. So, each one of those will fill up all the hotels, not just mine. So I’m doing it as a community effort.”