When billionaire Hutt Sheldon Adelson pulled out of the Oakland Raiders’ proposed Las Vegas stadium deal yesterday, all eyes turned toward investment firm Goldman Sachs. That’s because the Raiders had previously assured the Stadium Authority board that Goldman would provide investment with or without Adelson’s involvement. Now it looks like that plan has also gone to shit:
The proposed stadium carries a $1.9 billion price tag; $650 million was supposed to come from Adelson and Goldman while a record $750 million would come from Las Vegas taxpayers. Now that Goldman Sachs reportedly out of the picture, the Raiders are out $650 million and seemingly out of backup plans.
Raiders owner Mark Davis has until March to get this mess figured out, otherwise it’s unlikely he will receive the 24 votes from his fellow owners needed to approve his team’s move to Las Vegas.