The Oakland Raiders are set to pack their bags for Las Vegas, but one private investment company is hoping to persuade the storied franchise to stay placed in California.
Mark Davis desires to move their Oakland Raiders to Las Vegas, but investors in the Bay Area are hoping he reconsiders.
Fortress Investment Group, a publicly exchanged investment management firm based in New York City, is dealing with former NFL celebrity and Hall of Fame user Ronnie Lott to preserve the Raiders in the Bay Area. This week, the organization resubmitted plans up to a develop a new 55,000-seat stadium to keep owner Mark Davis in town.
The proposal is rumored to cost $1.3 billion, and will also be funded through Fortress putting up $600 million, the NFL and Raiders investing $500 million, and the City of Oakland funding $200 million. The pro football league confirmed to media outlets that it had received the submission.
The exact same group previously presented a similar proposal, but the NFL rejected it on grounds that more information had been needed.
Vegas Calls Bluff
The local government largely seems to support the Oakland Raiders coming to the Mojave Desert while there are plenty of Las Vegas locals who are less than enthused about the possibility of an NFL team calling the town home.
Nevada has committed $750 million to building a 65,000-seat domed stadium simply steps from the Strip. The amount of money shall come with raising the (more…)