Sheldon Adelson Pulls Out Of Las Vegas Stadium Project For Oakland RaidersFuture Of Project In Doubt After Billionaire's Exit |
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Casino boss Sheldon Adelson has withdrawn his proposed investment in a $1.9 billion Las Vegas stadium for the Oakland Raiders.
Adelson had committed $650 million to the project. The NFL has yet to decide if the Raiders can relocate to Las Vegas.
According to the Las Vegas Review-Journal, Adelson withdrew because of the proposed lease agreement that the Raiders submitted Thursday to the Las Vegas Stadium Authority.
“It was certainly shocking to the Adelson family," a statement read. “We were not only excluded from the proposed agreement; we weren’t even aware of its existence. It’s clear the Raiders have decided their path for moving to Las Vegas does not include the Adelson family.”
“So, regrettably, we will no longer be involved in any facet of the stadium discussion. While this is not the result my family was hoping for, I am very appreciative of the countless people who have given considerable time and energy to this process, especially so many of our elected officials who have made this a top priority for Southern Nevada.”
The rest of the $1.9 billion would come from taxpayers, the Raiders and the NFL. It’s unclear if the Raiders will be able to secure additional money for the project.
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