Adelson withdraws investment for potential Raiders Las Vegas stadium


If the Raiders do move from Oakland to Las Vegas, they will do so without the financial support of casino mogul Sheldon Adelson. 

The Las Vegas billionaire withdrew his $650million pledge toward a $1.9billion stadium that would house the Raiders and the University of Nevada, Las Vegas (UNLV) football team.

Adelson is upset he and his investment group were not included in the Raiders' submission to the NFL of a proposed lease agreement to the Las Vegas Stadium Authority.

In a statement issued Monday, Adelson said the Thursday proposal "sent shockwaves through our community".

"It was certainly shocking to the Adelson family," the statement said, via the Las Vegas Review-Journal, which is owned by the Adelson family.

"We were not only excluded from the proposed agreement, we weren't even aware of its existence.

"In addition to being discouraged by the surprise submission, I was deeply disappointed for the disregard the Raiders showed our community partners, particularly UNLV, through the proposed agreement."

The Raiders issued their own statement on Monday, saying they "deeply appreciate the efforts of the Adelson family to bring the Raiders to Las Vegas" and "remain steadfast in honouring [owner] Mark Davis' commitment to Governor [Brian] Sandoval and the State of Nevada to pursue relocation to Las Vegas".

The Raiders have officially applied for relocation to Sin City, but a move likely will not come until after the 2018 season while waiting for their Vegas venue to be built.