The Raiders, Las Vegas Sands and Majestic Realty have "zeroed in on a site" and a $1.9B budget for a proposed 65,000-seat football stadium in Las Vegas, but they if $750M in hotel room tax revenue "isn't authorized for the project, the dome ... won't be built," according to a front-page piece by Richard Velotta of the LAS VEGAS REVIEW-JOURNAL. The developers on Thursday told the Southern Nevada Tourism Infrastructure Committee that their "preferred stadium site is acreage west of Interstate 15, across from Mandalay Bay." They added that a purchase agreement "is in place." The Bali Hai Golf Club "is the developers' No. 2 choice." Under the developers' proposal, the public would put up $750M, or 39% of the cost, and private investors "would cover the remaining" 61% -- $650M from Las Vegas Sands and $500M from the Raiders. SNTIC Chair Steve Hill and Las Vegas Sands President & COO Rob Goldstein said that the public "would own the stadium." Velotta notes the stadium "would be operated by its own seven-member authority" ( LAS VEGAS REVIEW-JOURNAL, 8/26 ). In Las Vegas, Jackie Valley notes the developers "held firm that the public contribution for the project must" be $750M, or there is "no deal." Goldstein: "We are not negotiable. The numbers aren't going down. If we can't get $750 (million), we respectfully thank you and move on." Valley notes UNLV football "would also play at the stadium" ( LAS VEGAS SUN, 8/26 ). The AP's Michelle Rindels noted any NFL team relocation "needs the blessing of three-quarters of NFL owners, so developers are rushing to prepare their pitch by January, when the owners next meet" ( AP, 8/25 ).
MARK IT UP : FORBES' Darren Heitner noted the Raiders last Saturday "filed trademark applications with the U.S. Patent and Trademark Office for the mark 'Las Vegas Raiders.'" All of the filings, which "span a variety of goods and service classifications, were filed with an intent to use the mark in commerce in the future." The team "filed for 'Las Vegas Raiders' protection in multiple distinct classes" that "cover education and entertainment services, clothing, mobile applications, football helmets, trading cards, jewelry and play figures" ( FORBES.com, 8/25 ). In Philadelphia, John Smallwood writes "nothing is concrete," and the NFL BOG "ultimately would have to approve" a Raiders move. However, the trademark applications "certainly make it appear" as if Raiders Owner Mark Davis is "seriously considering Las Vegas as a potential new home" ( PHILADELPHIA DAILY NEWS, 8/26 ).
