Oakland lawmakers have stood firm, refusing to pay a dime in public money toward a new stadium for the Raiders. Because this is how things work now, rather than obtain private financing, or sell the team, or continue to play in the Coliseum, owner Mark Davis is waiting to be wooed by relocation options. And Las Vegas is throwing itself at him.
A proposal by 22nd-richest man in the world, casino magnate and owner of the Las Vegas Review-Journal Sheldon Adelson would fund a domed stadium in Las Vegas with $750 million in municipal bonds. According to Bloomberg, that would be a new record for public contributions to an NFL stadium, surpassing the $620 million in tax money that went to build Lucas Oil Stadium in Indianapolis.