The Oakland Raiders are set to pack their bags for Las Vegas, but one private investment company is hoping to convince the storied franchise to stay placed in California.
Mark Davis wants to move their Oakland Raiders to Las Vegas, but investors in the Bay Area are hoping he reconsiders.
Fortress Investment Group, a publicly traded investment management firm based in ny City, is using former NFL celebrity and Hall of Fame member Ronnie Lott to preserve the Raiders in the Bay Area. This week, the organization resubmitted plans to a develop a brand new stadium that is 55,000-seat keep owner Mark Davis in town.
The proposal is rumored to cost $1.3 billion, and you will be funded through Fortress putting up $600 million, the NFL and Raiders investing $500 million, and the City of Oakland funding $200 million. The pro football league confirmed to news outlets that it had received the submission.
The same group formerly presented a similar proposition, but the NFL rejected it on grounds that more information ended up being needed.
The local government largely seems to support the Oakland Raiders coming to the Mojave Desert while there are plenty of Las Vegas locals who are less than enthused about the possibility of an NFL team calling the town home.
Nevada has committed $750 million to building a 65,000-seat stadium that is domed steps through the Strip. The money will come with raising the hotel occupan (more…)