NFL not saying whether tax bill could jeopardize Las Vegas stadium

Posted by Michael David Smith on November 7, 2017, 11:54 AM EDT
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Could the Republican tax bill’s provision to eliminate tax breaks for cities and states that borrow money to build stadiums jeopardize the new Raiders stadium in Las Vegas? The NFL isn’t saying.

NFL spokesman Joe Lockhart said today that the league isn’t sure whether the tax bill could upend the plans to build a new home for the Raiders.

“That’s a hypothetical,” Lockhart said. “We’ll have to see where that goes.”

Still, the league will lobby Congress not to include that provision in the final bill. The league claims that building stadiums enhances economic development in the cities that house the stadiums, and that as a result, there should be federal tax breaks for stadium construction.

“That’s a provision we do oppose,” Lockhart said. “We will continue to make our opposition known on that.”

Construction has begun on Las Vegas Stadium, and the plan is for the Raiders to start playing there during the 2020 season.

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19 responses to “NFL not saying whether tax bill could jeopardize Las Vegas stadium”

  1. Worst case scenario, it wouldn’t apply to this stadium because everything was already finalized.

    You kids go ahead and talk out of your arse though, like it matters.

  3. More costly because they hae to provide bigger yields to the purchasers. If teams just get up and move leaving 80M in debt what are governments suppose to do?

  4. I am not opposed to a tax break for new stadiums, in theory. However, the cost to the municipality should be voted on by the people who will pay the bill….the public. Ttoo much opportunity for some dishonest money/perks to change hands to get the deal done otherwise.

  6. The only economic benefit is the immediate construction jobs for the building of it. As to the cost to the cities versus the economic benefit, past numbers have shown that the cost exceeds the benefit.

  9. xbam says:
    November 7, 2017 at 12:16 pm
    how much more enhancing “economic development” does Vegas need?? enough already!

    ——————————————————————————————-

    Las Vegas typically has an unemployment rate well above the national average. Its economy is solely dependent upon tourist dollars. If the economy dips, their economy feels it hard. I am not saying I support the use of public money to build a stadium, or that I like the idea of the Raiders moving. But a city like Las Vegas needs to constantly be finding new ways to attract people to visit.

  10. Las Vegas typically has an unemployment rate well above the national average. Its economy is solely dependent upon tourist dollars. If the economy dips, their economy feels it hard. I am not saying I support the use of public money to build a stadium, or that I like the idea of the Raiders moving. But a city like Las Vegas needs to constantly be finding new ways to attract people to visit.
    ——————————–

    Hey Buddy….This isn’t the 70 s anymore. The vegas unemployment rate is always at or below the national average. This economy is driven by tourists but makes most of its money through conventions. If the economy tanks then vegas does suffer but so does the rest of the country.

  12. “the cost to the municipality should be voted on by those who pay the bill…the public”.

    Does the public vote on every government expenditure? Of course not. That’s why we have elected officials. Elect better leaders and your problem is solved.

    Also, “the public” doesn’t pay the bill, the bond purchasers do. That’s the problem with the anti-welfare for billionaires crowd. They are clueless as to how the financing actually works.

  13. I think that the Raiders would be much better off if Son-of-Al sold the team (which he might have to if the Vegas deal explodes in his face). I’m sure that the Raiders could get a favorable stadium situation in Oakland with new & respected ownership.

  14. “Construction has begun” – really?????

    Just breaking ground is supposed to be next week, so not sure how you can have construction without breaking ground first. Also the raiders can not technically start construction until they know the costs and have have development agreements with the Las Vegas Stadium authority, and the county. So until they work things out with UNLV ,and know the actual final costs, its all about nothing. It’s all a bunch of smoke and mirrors, and the dog and pony show. Let me know when the steel and concrete shows up.

  15. The fact that these are “Federal” tax breaks means we all get to support the building of the new Stadium in Vegas…. even the folks in Oakland that they are leaving behind. The economic benefit in Vegas is offset by the economic loss in Oakland, so I say the Federal Tax code should stay out of it. The owners who hold these communities hostage should have a business plan that is not artificially propped up by taxpayers (unless locals want to pay the freight, not the feds). These tax breaks incent very bad behavior.

  16. Maybe someday the Raiders will learn how to pay their own bills and not have tax payers bail them out for move after move. Of course, this would mean having a strong fan base that buys tickets, goes to the games and doesnt sit under tarps. Not happening.

  17. I have an idea. If these billionaires want a tax break then have them sign something stating they will stay in the city at least twice as long as the length of time it takes to repay the cost of building the stadium. So if the bonds are 30-year bonds then they have to stay in the city at least 60 years. That’s fair isn’t it? I don’t think it’s fair for these teams to fleece one city after another looking for a better deal while the city suffers the economic burden of carrying a team owned by a billionaire.

  18. Whether or not this bill passes, I can guarantee you that all Vegas stadium construction has been put on hold until further notice thereby extending (greatly) the Raiders potential move time. If the bill passes, the Raiders will likely be responsible for all expenses incurred to date, including forfeiture penalties and there will be no relocation fee paid by the NFL. Back to the tarps, Raiders.

  19. joetoronto, none of the bonds have issued yet. The legislation states bonds issued after 11/8/17, nice try though. Also none of agreements, except one have been signed, still 14 more to go. The big one is with UNLV, who have absolutely no incentive to compromise or agree with Raiders because money reverts to UNLV if no agreements reached by May 2018. Read SB1, it’s all there. Sheldon Adelson wanted to build a stadium for UNLV before Raiders came along. He’s the guy who help write the law and get it approved, for his benefit as well as UNLV. Then Mark Davis tried to screw him over and Sheldon backed out. BTW, did I mention that Adelson is a major benefactor to UNLV? Stay tuned, nothing has happened yet and Raiders to Vegad is far from done. Think Irwindale 2.0

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