football 1 week ago

The Latest: Raiders to announce some draft picks from Vegas

The Associated Press

LAS VEGAS (AP) — The Latest on plans for an NFL stadium in Las Vegas (all times local):

4:10 p.m.

Oakland Raiders president Marc Badain says the team will announce its third-day draft picks from the "Welcome to Las Vegas" sign next week.

Badain made the announcement Thursday during a gathering of the public entity overseeing the proposed 65,000-seat stadium the team wants to occupy in Las Vegas.

NFL league owners approved the Raiders relocation last month. Badain says the team has received thousands of $100 deposits for personal seat licenses.

Guests of hotels and other lodging facilities in the Las Vegas area covering $750 million of the $1.9 billion project through a room tax increase.

The Raiders won't pay any rent at the new stadium, according to the most recent draft of a lease agreement.

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1:30 p.m.

The Oakland Raiders would not pay rent at the proposed stadium they want to use in Las Vegas.

A draft of a lease agreement calling for no rent was unveiled during a Thursday gathering of the public entity overseeing the proposed $1.9 billion project.

Las Vegas Stadium Authority board chairman Steve Hill has said the entity, which would own the stadium, cannot receive any revenue because it could cause bonds for the project to lose their tax-exempt status.

A previous version of the lease agreement called for a $1 annual rent.

The Raiders paid $3.5 million in rent to play at Oakland-Alameda County Coliseum in 2016, up from $925,000 for the 2015 season.

NFL league owners approved the Raiders relocation last month. Raiders president Marc Badain says the Raiders have received thousands of deposits for personal seat licenses.

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8:53 a.m.

The entity overseeing a proposed Las Vegas NFL stadium is set to meet for the first time since league owners approved the relocation of the Oakland Raiders to the nation's gambling mecca.

Las Vegas Stadium Authority board members on Thursday are expected to discuss progress on a stadium development agreement and a lease agreement for the $1.9 billion project. Both documents must be finalized before construction could begin.

The Raiders' relocation was approved last month. The team is already allowing fans to place refundable $100 deposits to secure personal seat licenses even though a site has not been picked for the 65,000-seat domed stadium.

A draft of the lease agreement that the Raiders presented to the stadium authority board in January called for a $1 annual rent for the team.

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