NFL owners voted Monday to approve the franchise’s relocation from Oakland. The announcement is followed by a jaw-dropping proposal for a 65,000-seat stadium estimated at $1.9B.
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Officials in Oakland have come up with various proposals in an attempt to keep the Raiders from moving, including a last-ditch offer of a new $1.3 billion stadium on behalf of the city and Alameda County but NFL Commissioner Roger Goodell rejected the idea, citing a list of deficiencies.
The Nevada General Assembly has agreed to a hike in the Clark County, NV, hotel tax in order to fund a $750 million contribution toward stadium construction. The team will fund the remaining $500 million for the MANICA Architecture-designed venue from a $650 million loan from Bank of America.
