Today the Raiders signed a contract to build their 65,000-seat stadium in Las Vegas, designed by Manica Architecture.
Raiders President Marc Badain and Steve Hill, chairman of the Las Vegas Stadium Authority, the public agency that will build and finance the project, agreed on a deal that will allow the $ 1.8 billion project to to move forward. This will allow the Raiders to move from their current home in Oakland, California to their new dig in the Nevada desert.
To date, the team has spent $ 180 million on the stadium, a number that includes groundwork on site and the purchase of the 62-acre property last year for $ 77.5 million.
At yesterday’s Orlando meeting, the NFL owners agreed to a $ 200 million league loan to fund construction, with only one of the league’s 32 owners voting against the deal. On the public side, the Las Vegas Sun reported that Clark County (which also includes Las Vegas) will pour $ 750 million in hotel room tax revenue into the project.
In a Q&A posted on the Raiders website, owner Mark Davis explained the stadium design and compared it positively to the stadium the team almost occupied in California:
“I think it’s an iconic building, number one. It’s something that … the basic structure and everything brought back the dynamic we did with the Carson building with the chargers. I just fell in love with the architectural design. To adapt the building we made for Carson, to put a roof on it … to bring out glass, which has always been a requirement for me. To achieve this aspect, I think the building looks amazing. I’m just happy that the Raiders will have a home. The fans can be proud of that, that the league can be proud of, that the players can be proud of … “
The Las Vegas Review-Journal reported that construction is expected to be completed by August 1, 2020, about a month before the start of the regular season.