raiders

Committee votes unanimously to fund Las Vegas NFL stadium

An oversight committee has voted in favor of spending $750 million in public money to help pay for a Las Vegas NFL stadium. The Southern Nevada Tourism Infrastructure Committee met today to make a decision on whether the plan should move forward on the $1.9 billion stadium. The cost of the stadium will be split between Sheldon Adelson who will pay $650 million, the Raiders who will pay $500 million and the public which will pay $750 million through a new tourism tax. There is no percentage cap on the public contribution and stadium profits will go to the developers during the lifetime of the lease.