The new Raiders stadium will be more expensive than previously believed. But by only $40 million.
Via the Las Vegas Review-Journal, this relative drop in the bucket (given the $1.8 billion total price tag) will cover among other things the addition of 20 suites. The 20 suites are aimed at sweetening the effort to host Super Bowls at the new venue.
“The more suites you have, the better opportunity you have to bid for the Super Bowl,” Raiders president Mark Badain told the Review-Journal. “So we wanted to be responsive to the NFL, as we’re working on a bid for the 2025 Super Bowl.”
Translation: As the Raiders work with the league to secure the 2025 Super Bowl, the league has said, “Maybe it would be a good idea to add 20 suites.”
The stadium is now expected to have 128 total suites.
The Raiders will pay the full $40 million in overages, which also will cover the creation of a 26,000-square-foot field-level club area (which can hold up to 800 fans) and various upgrades to the appearance and functionality of the stadium.
Boosting the ability to pony up the extra money is the fact that nearly $290 million in PSLs have been sold for the new stadium. Any proceeds exceeding that amount will be devoted to the overall stadium project.