The Oakland Raiders have been working with Sheldon Adelson and Goldman Sachs to secure funding for a new football stadium in Las Vegas, but it all appears to be crumbling down. Adelson was going to contribute $650 million, to go along with $750 million from Las Vegas, and $500 million from the Raiders. On Monday, Adelson issued a statement declaring that he is no longer involved in the stadium discussion.
This is turning ugly for the Raiders. There has been some thought that the Raiders would have Goldman Sachs to replace Adelman in the deal. Now, there are numerous reports that Goldman Sachs is only in the deal if Adelman is in the deal. With Adelman out, they are out, leaving the Raiders holding the bag.
This could mark the quick end to the Raiders chances of moving to Las Vegas. A vote was expected in March, but that will likely be off the ballot. The question now is what they do next. And that is where Levi’s Stadium could enter the picture.
The Raiders will not become permanent residents of the San Francisco 49ers stadium. However, as they try and figure out their next steps, it is entirely possible the NFL gets them to move into Levi’s for the short term. Tim Kawakami broke down some of the details, as well as Mark Davis’s past comments against such a move.
A lot of 49ers fans would certainly not be pleased with the move, but as things go south in Las Vegas, I start to expect this more and more. Mark Davis will kick and scream, but it feels like something the NFL would effectively force on them at some point. They would play on alternating weeks, and it seems to me like something Raiders fans would have more reason to be pissed about. They would have to deal with traveling to the South Bay, and then of course those bright red seats throughout the stadium.
There is still time for the Raiders to figure something out with Las Vegas, but these latest developments will leave some folks pessimistic. In the meantime, Levi’s Stadium sits and waits.