Raiders' President Says Adelson Withdrawal Won't Hurt Stadium Bid
The president of the Oakland Raiders says financing for the proposed Las Vegas stadium will not be an issue despite the withdrawal of an instrumental backer.
The remarks from Marc Badain before the board that oversees the proposed project came Thursday, less than two weeks after casino magnate Sheldon Adelson pulled his multi-million pledge toward the $1.9 billion stadium.
Badain told stadium authority board members that the team is in discussions with "multiple financial institutions."
Adelson and his family had pledged $650 million and the Raiders $500 million, with the stadium authority putting up $750 million in Las Vegas tax revenues.
NFL team owners must approve the Raiders move from Oakland to Las Vegas. A vote is expected during league meetings at the end of March.