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Vegas Stadium Under Political Fire

Friday, May 4, 2018

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The future stadium of the National Football League’s current Oakland Raiders is still set for completion in August 2020, as design elements and costs of the Las Vegas project were finalized just last month.

However, the topic of the stadium has been a point of contention to those in Nevada’s governor’s race, and one gubernatorial candidate is now saying that if he’s elected, he would pull the plug on the whole operation until the Raiders renegotiate the nearly $2 billion deal.

What’s Going On?

Dan Schwartz, the Republican state treasurer, who is running for governor, recently told the Las Vegas Review-Journal in an interview that he would essentially strand the stadium in order to get a different deal.

Manica Architecture

The future stadium of the National Football League’s current Oakland Raiders is still set for completion in August 2020, as design elements and costs of the Las Vegas project were finalized just last month.

“Assuming I’m elected, I cannot interfere with the various contracts that are out there,” Schwartz said. “But the governor does control the roads. What I will do is tell them that you can build the $2 billion stadium, but you ain’t going to have any roads.”

Schwartz takes issue with the $750 million in public money that’s helping to fund the stadium. That money is coming from a hotel tax that passed in a 2016 bill with the new stadium in mind. Schwartz wants to redo the deal to take the $750 million out of the equation and instead put the funds from that tax toward education.

Reactions

The wide consensus from officials working on the project, as well as the other gubernatorial candidates, is that the deal is too complicated to be undone. That promised public funding paved the way for a $200 million loan from the NFL. The remaining $850 million is being picked up by the Raiders organization.

Steve Hill, CEO and president of the Las Vegas Convention and Visitors Authority and chairman of the board overseeing the stadium project, told the Journal that going back on the deal now would hurt Nevada for future business deals and noted that support of that initial bill was largely bipartisan.

“I would hope that whoever our next governor is would appreciate that the state has collectively made a decision on this, and that passed through the Legislature with a supermajority in both houses,” he said. “We have created a law that was very straightforward that outlined the process, and we have followed through on the commitment that was made to the Raiders.”

The Democratic side of the race includes Clark County Commissioners Steve Sisolak, a longtime supporter of the project, and Chris Giunchigliani, who is also critical of the deal but does not believe it can be restructured.

   

Tagged categories: Commercial Construction; Government; Stadiums/Sports Facilities

Comment from john lienert, (5/4/2018, 8:54 AM)

i might vote for this new Schwartz fella'......he tells you before he's even "in power" that he is going to steal tax money from a pile set aside/voter-approved for one project and arbitrarily move it to another arena.....perfect....a "born leader"


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