Raiders wouldn’t pay rent under proposed terms of Las Vegas stadium

Posted: 30/04/2017 in NFL, Sports
Tags: , , , , , ,

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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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