Back in April, I expressed my dissapproval of the Raiders plan to relocate to Las Vegas. At the time, my primary objection was to the idea of building an NFL-size stadium adjacent to UNLV's campus. But as time has moved on, the plans have shifted, and the city has come up with new location proposals for the $1.9 billion stadium, as well as new financing plans. Last week, the Nevada State Legislature, on the order of Governor Brian Sandovall, convened a special session to vote on the proposed stadium financing plan. The successful vote was a win for the Raiders' plan to relocate, but was a major loss for the city of Las Vegas and state of Nevada.

Here is a video of the proposed stadium, which appears to be located near Russel Rd, west of the I-15.

The finance plan requires the city of Las Vegas to raise $750 million in funds from a hike in room taxes for its hotels. This leaves taxpayers supposedly off the hook by passing the bill onto tourists. Critics have complained that this takes money away from Las Vegas schools and other public infrastructure and services, but this criticism is a bit of a red herring, as there were no plans to collect such revenues and spend them on schools or other services to begin with. Critics are valid in pointing out, however, that this does take that money away from potentially being collected for the purposes of funding education or services in the future.

The city, tourists, and UNLV all get screwed

I would be fine with this $750 million price tag if the plan guaranteed some degree of revenue or profit-sharing for the city of Las Vegas. It would be an up-front investment with the potential of paying for itself over the long-term. No such fortune for us Vegas residents. This is a bum deal for the city of Las Vegas, however, as the plan does not allow for any revenue or profit-sharing from the proceeds that the stadium may gain. So public money is being spent on the project, but no money is going back to the public. Sheldon Adelson and Mark Davis are both billionaires. If they really wanted the Raiders to move to Las Vegas, they can afford to build their own damn stadium.

Mark Davis and Sheldon Adelson
Mark Davis and Sheldon Adelson are both billionaires. They can afford to build their own damn stadium.

What really sours this deal though is that it also presents some other "screw you"-s to the city of Las Vegas. The plan to build a new stadium started out as a plan to build a new stadium for UNLV's football program. But UNLV gets screwed by this deal, as they will actually have to pay approximately $250,000 per game to the stadium's owners in order to play their home games there! They'd have to pay $250,000 per game to "rent" this facility! "Public stadium", my ass! If Las Vegas is raising tax money to pay for this stadium (and we're paying for almost half of the entire bill), then it should belong to the City of Las Vegas or Clark County. If it belonged to Las Vegas, then our public university (UNLV) should be able to use the facility, and should get revenue from ticket sales. Not so, apparently. Make no mistake, this is not Las Vegas' stadium; this is Mark Davis and Sheldon Adelson's stadium.

We don't get the stadium; we only get the debt. NFL teams have a long, sad history of screwing cities with stadium deals...

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