Raiders brass displeased with latest stadium funding proposal - FOX5 Vegas - KVVU

Raiders brass displeased with latest stadium funding proposal

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A hopeful Oakland Raiders fan sports at "Las Vegas Raiders" hat at a committee meeting on June 23, 2016. (Source: FOX5) A hopeful Oakland Raiders fan sports at "Las Vegas Raiders" hat at a committee meeting on June 23, 2016. (Source: FOX5)
LAS VEGAS (FOX5) -

We learned Wednesday Las Vegas will be home to an NHL team, but on Thursday the focus turned back to luring a professional football team.

A committee is trying to figure out how to pay for a proposed $1.5 billion stadium that could be a future home for the Oakland Raiders.

A new plan calls for less taxpayer commitment, but the Raiders have concerns about it.

As fans tailgated outside a meeting of the Southern Nevada Infrastructure Committee, Raiders officials reacted to the new proposal.

“I’ll tell you point blank, we’re disappointed by what we saw today,” Raiders president Marc Badian said.

The plan calls for the team and private donors to fund a bigger chunk of the stadium. It calls for $550 million in taxpayer money, which is $200 million less than an earlier proposal called for.

The Oakland Raiders and the Las Vegas Sands Corp. would be on the hook for the rest, and that could be a red flag to the NFL.

“The NFL likes to see large public commitments, and not only because they want to know the community believes in it but also it was a large statement that was viewed very positively by the NFL,” Andy Abboud with the Las Vegas Sands Corp. said.

Committee members have concerns as well. They said they didn’t have time to thoroughly review the proposal prior to the meeting and that it leaves several funding questions unanswered.

“I still don’t know if that’s their contribution or the public contribution if that site is proposed. Those are the answers I’m not getting,” Clark County Commissioner Steve Sisolak said.

With a little more than a month left to finalize a plan, those involved said the biggest concern is time.

“We’re getting down to a time crunch, and by the end of July we got to get this all done,” University of Nevada, Las Vegas president Len Jessup said.

Committee members said more meetings will likely be needed to ensure the deadline is met but they remain confident a deal will be reached.

The committee is next slated to meet on July 11.

Copyright 2016 KVVU (KVVU Broadcasting Corporation). All rights reserved. 

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