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Raiders secure Las Vegas financing from Bank of America

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The third time’s a charm, at least for now.

After having a pair of potential financing partners for the Raiders’ proposed Las Vegas stadium bow out, the Raiders have lined up Bank of America to provide the remaining capital, according to Vincent Bonsignore of the Los Angeles Daily News.

Previously, Sands casino owner Sheldon Adelson and investment firm Goldman Sachs had been separately lined up to kick in the $650 million needed to bridge the gap between the NFL/team contribution ($500 million) and the available taxpayer money ($750 million).

The Raiders will still need to replace the expertise that Adelson would have provided from the perspective of stadium construction and operation. And they’ll need to worry about Adelson working behind the scenes to keep the Raiders out — since he reportedly intends to try to lure another team in.

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50 Responses to “Raiders secure Las Vegas financing from Bank of America”
  1. pastabelly says: Mar 6, 2017 5:23 PM

    There are plenty of construction management companies who would love the chance to manage this for B of A and the Raiders. That shouldn’t be an issue. Adelson will never get a team or any kind of interest as long as he owns casinos with sports books. The NFL isn’t going there.

  2. oneilistheone says: Mar 6, 2017 5:32 PM

    Well,Mark said he had a few interested parties but you all kept killing the deal because? I don’t know maybe some don’t want to see Mark succeed?

    Want him to sell the team to please who’s needs?

  3. knowspinzone says: Mar 6, 2017 5:32 PM

    I see a FDIC takeover in B of A’s future.

  4. granadafan says: Mar 6, 2017 5:38 PM

    So, why couldn’t the Raiders make it work in Oakland? The NFL just bragged about bringing in 15 billion. What a joke.

  5. upperdecker19 says: Mar 6, 2017 5:41 PM

    And B of A never makes a bad loan…

    Regards,
    The 2008 housing bubble

  6. navyvandal says: Mar 6, 2017 5:41 PM

    So IIRC, resort world law Vegas (old stardust site) is also in construction. This could be HUGE for Vegas if they can secure the contract

  7. pilingon57 says: Mar 6, 2017 5:43 PM

    Good luck paying that loan off. The interest alone will be more than they can afford.

  8. therealraider says: Mar 6, 2017 5:49 PM

    “The Raiders will still need to replace the expertise that Adelson would have provided from the perspective of stadium construction and operation.”

    What stadium has Adelson ever built and operated?

  9. thegreatgabbert says: Mar 6, 2017 5:51 PM

    … after the local Mafioso money lenders turned them down.

  10. ndnation23 says: Mar 6, 2017 5:52 PM

    sheldon adelson…now theres a guy that should be a part of an NFL team. a guy who tried to bribe his way out of bribery charges.

  11. citizenstrange says: Mar 6, 2017 5:52 PM

    “And they’ll need to worry about Adelson working behind the scenes to keep the Raiders out — since he reportedly intends to try to lure another team in.”
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    OMG! OMG! OMG!

    The Las Vegas Steelers! Their revenue would be like $10 billion a year! Maybe more!!!

  12. cuzzinjoey says: Mar 6, 2017 5:56 PM

    People,

    I have said this before, this stadium is going to be a cash cow.

    Between events, concerts, etc., and all the conventions that will use the stadium, will make it one of the busiest in the country.

    No problem getting financing, when you have revenue, and they will have lots.

    nuff said.

  13. scooby7501 says: Mar 6, 2017 6:00 PM

    granadafan says:
    Mar 6, 2017 5:38 PM
    So, why couldn’t the Raiders make it work in Oakland? The NFL just bragged about bringing in 15 billion. What a joke.

    It’s a business and LAS VEGAS is putting up $750 million. Oakland is offering pretty much nothing.
    Until cities stop paying up we can’t expect owners to pass up great deals, even if they aren’t the best deals for the public.
    Merrill Davis doesn’t have the money to do what Jroenke is going in Los Angeles.

  14. atwatercrushesokoye says: Mar 6, 2017 6:01 PM

    How long before the Raiders go to a payday loan place in hope of securing financing?

  15. thegreatgabbert says: Mar 6, 2017 6:16 PM

    The facility will be known as Las Vegas Loan Shark Stadium.

  16. The Dangerous Kitchen says: Mar 6, 2017 6:17 PM

    ndnation23 says:
    Mar 6, 2017 5:52 PM
    sheldon adelson…now theres a guy that should be a part of an NFL team. a guy who tried to bribe his way out of bribery charges.

    ——————————

    Well they did imply he understood the system.

  17. raidernation37 says: Mar 6, 2017 6:25 PM

    The Raiders will still need to replace the expertise that Adelson would have provided from the perspective of stadium construction and operation.

    Why do you keep trying to make this an issue??? There are thousands of buildings being built every damn day across this country and a good percentage of them are overseen by construction management experts. Here’s a few companies that build stadiums since you don’t want to research it:

    AECOM
    Turner construction company
    Clayco
    Kokosing
    TA Loving

  18. hifive123 says: Mar 6, 2017 6:38 PM

    That gives me about 3-4 more years of being a fan. Thanks, Mark. #itsoaklandoritsnottheraiders

  19. abninf says: Mar 6, 2017 6:51 PM

    thegreatgabbert says:

    The facility will be known as Las Vegas Loan Shark Stadium.
    ===============================

    To have loan sharks you have to have humans dumb enough to be fish.

  20. 6250claimer says: Mar 6, 2017 6:53 PM

    Screw Adelson, let him work on luring a roller derby team to that stupid new arena that screws up parking at NY/NY & the rest of that entire corner.

  21. tfavrat says: Mar 6, 2017 6:58 PM

    Good luck paying that loan off. The interest alone will be more than they can afford.
    ================================

    The stadium will end up holding events ranging from NFL football to NCAA Bowl games to Stadium-type concerts to just about anything. As an earlier poster said, it’s a cash cow. Why do you think Vegas put in $750M? This will make bank…more than enough for the debt service.

  22. streetyson says: Mar 6, 2017 6:59 PM

    The Bank of America Raiders seems a fitting name for a Vegas team or stadium.

  23. immafubared says: Mar 6, 2017 7:26 PM

    ya ki d of a done deal now. finding a stadium build. in simple. Adelson cant stop this now unless he bribes owners. adelson wantex to own a chunk of the team plus parkng, concessions. hell thats were a lt of the money is

  24. thebillscouldeventuallymove says: Mar 6, 2017 7:30 PM

    hifive123 says:
    Mar 6, 2017 6:38 PM
    That gives me about 3-4 more years of being a fan. Thanks, Mark. #itsoaklandoritsnottheraiders

    Then you were never really that Diehard anyways. Don’t let the door hit you in the ass on the way out

  25. steveno9784 says: Mar 6, 2017 7:31 PM

    750 million in taxpayer money…that’s insane. For those saying that it gives back to the community, you better do some better research as that is actually a strong myth, as it has been actually proven that it can damage a community…like Cincinnati, when they had to close a hospital down to make up the budget. Taking that much in taxpayer money is just insane, when the NFL is pulling in record revenue and the owners are paying their part of the stadium with revenue streams, I applaud Oakland for standing up and declining to make their people pay that much out of their own pockets when they won’t be seeing any return other than a shiny stadium that they would have to pay a hefty price to get into

  26. dumdolt says: Mar 6, 2017 7:36 PM

    America’s Team

  27. mullman76 says: Mar 6, 2017 7:50 PM

    Ship the chargers to Vegas.

    Let the RAIDERS move to Kroenke World.

    This will lead to the RAIDERS assuming rightful ownership of Southern California.

    With the current quagmire that the 9ers are in and the rams and chargers being the rams and chargers, the RAIDERS are poised to dominate the best State in the Union.

    Get it done.

    Carry on.

    Go Raiders

  28. jimmysee says: Mar 6, 2017 7:52 PM

    Ironic to no end that Band of America started its life as Bank of Italy in San Francisco.

  29. projectshadow316 says: Mar 6, 2017 7:53 PM

    Bank of America is financing this?

    Oh man, this is going to be a trainwreck and a half.

  30. nbcwantsitsmoneyback says: Mar 6, 2017 8:11 PM

    How many stadiums has Sheldon Adelson built? Zero? How can you have experience in something without ever doing it?

  31. psubeerman21 says: Mar 6, 2017 8:22 PM

    I can’t think of anything more American than thousandaires helping millionaires become billionaires.

  32. boknowsvt says: Mar 6, 2017 8:24 PM

    I don’t care where they play…it all looks the same on tv anyway (unless it’s baseball season and the infield dirt is visible)

  33. pantherpro says: Mar 6, 2017 8:24 PM

    Hey Raider trash

    How many times can get get kicked in the teeth? Oh that’s right most of Raider nation doesn’t have teeth. Later Raiders. Leave the Bay to the Niners and take your inferiority complex to Vegas!

    Niner Empire

  34. imaduffer says: Mar 6, 2017 8:31 PM

    Oh! NO!!, now the American tax payers are going to have to bail out the Las Vegas Raiders.

  35. mdintino1420 says: Mar 6, 2017 8:44 PM

    The Raiders are moving to Las Vegas. The NFL is approving the move this month. In reality, the Raiders should have moved already. There is no point lingering in Oakland as a lame duck team. Sam Boyd stadium can be expanded to 40,000 seats. That is 10,000 more seats than the Stubhub Center. The economic opportunity in Las Vegas is too amazing to pass up. Super Bowls in Las Vegas will be a money printing convention. Southern NV residents are stoked about the Golden Knights and Raiders coming to town.

  36. rolltide510 says: Mar 6, 2017 8:48 PM

    pantherpro says:
    Mar 6, 2017 8:24 PM
    Hey Raider trash

    How many times can get get kicked in the teeth? Oh that’s right most of Raider nation doesn’t have teeth. Later Raiders. Leave the Bay to the Niners and take your inferiority complex to Vegas!

    Niner Empire
    ——————-

    hahahahah Jed York hahahahahhahah

  37. charger383 says: Mar 6, 2017 9:07 PM

    Al would have had Raiders in Vegas 4 seasons ago and gotten half ownership in a casino

  38. thethunderofgunns says: Mar 6, 2017 9:15 PM

    Uh…I’m pretty sure the Raiders org has ran a stadium at least a couple of days or so…

    P*ss off, Adelson. 🙂

  39. screwmemean says: Mar 7, 2017 5:37 AM

    With the Raiders having the greatest fan base in the history of the universe (cough, cough), why only a 65,000 seat stadium? When in Vegas, you think big! Denver has sold out all of their home games at 76,000 plus since 1971. Just sayin’ Have a good day my mighty Nahsun!

  40. droppedinagreasefire says: Mar 7, 2017 6:01 AM

    With the Raiders having the greatest fan base in the history of the universe (cough, cough), why only a 65,000 seat stadium? When in Vegas, you think big! Denver has sold out all of their home games at 76,000 plus since 1971. Just sayin’ Have a good day my mighty Nahsun!

  41. droppedinagreasefire says: Mar 7, 2017 6:03 AM

    The Raiders are moving to Las Vegas. The NFL is approving the move this month.
    _________________________________________

    You know this how? You now speak for the Raiders? Man, homerism has really gotten you. I can see it in your eyes. Get help now! Seriously.

  42. raiderspy1 says: Mar 7, 2017 7:25 AM

    Sheldon can work behind the scenes all he wants in trying to lure another team, the NFL has the last say on that. You cant move to just move.

    But I have a question, if Mark Davis got Bank of America to back the Vegas deal, I wonder if they would have backed a OAKLAND deal just as well?

  43. joetoronto says: Mar 7, 2017 9:11 AM

    “Niner Empire”, LOL!

  44. fanboyarmy says: Mar 7, 2017 11:29 AM

    B of A just bought the Raiders and Marky Mark doesn’t realize it.

  45. thejesusofcool says: Mar 7, 2017 11:35 AM

    Doubtful a 65,000 seat stadium would lure a SB to Vegas.

  46. thejesusofcool says: Mar 7, 2017 11:41 AM

    Like most tourists, the Raiders are getting played hard by Vegas. The House always wins in the end.

  47. thejesusofcool says: Mar 7, 2017 1:01 PM

    Isn’t there a double A semi pro baseball team team in Vegas the Raiders could share a dirt lot field with? They would feel right at home, yes?

    Way to lose your team twice, Raider Nation.. LOL!

  48. bandoy767 says: Mar 7, 2017 1:11 PM

    That gives me about 3-4 more years of being a fan. Thanks, Mark. #itsoaklandoritsnottheraiders

    ———————————————————

    Lol you must have been born in 95

  49. screwmemean says: Mar 7, 2017 3:17 PM

    The Raiders will never play a game in Vegas as the home team.

  50. cuzzinjoey says: Mar 7, 2017 6:32 PM

    raiderspy1 says:
    Mar 7, 2017 7:25 AM
    Sheldon can work behind the scenes all he wants in trying to lure another team, the NFL has the last say on that. You cant move to just move.
    But I have a question, if Mark Davis got Bank of America to back the Vegas deal, I wonder if they would have backed a OAKLAND deal just as well?

    *********************************************

    A Vegas stadium will be in constant use and generate large revenue. Not the same in Oakland.

    As the Raiders Brass stated before, there are others who will provide financing because everyone realizes the $$$$ this stadium will bring in.

    I also believe that Mark Davis is going to push this because of the revenue it will bring into his own pockets, allowing him to get out of “the poorest owner” category.

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