Las Vegas Raiders could be delayed if lease isn't done soon
LAS VEGAS (KSNV News3LV) —
The Las Vegas Stadium Authority received a revised draft of a new lease Thursday, with the added pressure that approval needs to come sooner rather than later.
The push now is to get something to the NFL a week from Monday – at the owners’ spring meeting in Chicago.
“In order to approve a lease, you need full membership of the league, and the league has four meetings a year – March, May, October, and December,” Raiders President Marc Badain explained to reporters. “So if you miss the May deadline you push to October. We would lose a year. Everybody wants to get the project going and get these guys to work so we don't want to miss that deadline.”
RELATED LINK | Raiders stadium to be built by June 2020
In other words, if a lease approval gets delayed, that planned 2020 opening could get pushed back … to 2021.
On the table today was a draft timeline that sees shovels go in the ground in December, calling for 30 months of construction.
This stadium will be the home of two teams: The Raiders – and the Rebels.
To make it pencil out, it also needs other events to make sure the place makes money ... and to make sure taxpayers are getting a good return on their $750 million investment.
The latest lease has a clause that requires the stadium operator – the Raiders – to make a good faith effort to make sure the stadium gets used – a lot. It requires the stadium operator – in this case, the Raiders – to spell out at an annual public hearing “how the stadium has been maximized during the past year and its plan to maximize the utility of the stadium going forward.”
At today's meeting, locals showed up to make sure all members of the community benefit.
“I’m coming as a small business owner, not to ask for a handout. I'm telling you we can provide value on those projects,” said businessman Shaundell Newsome.
The Community Benefits Agreement is part of the deal lawmakers approved last October that paved the way for the stadium project. The details of the Community Benefits Agreement are still being fine-tuned, says authority chair Steve Hill.
“Keeping that at the forefront of our minds is laudable and important and a benefit for us,” Hill told News 3.
It’s just one item – of many to come – to make sure opening day happens, on schedule.