Las Vegas Raiders Stadium Budget Finalized at $1.8 Billion
Posted on: March 22, 2018, 11:00h.
Last updated on: March 22, 2018, 10:45h.
The Las Vegas Raiders football stadium will cost $1.8 billion to construct. The official price tag doesn’t include a $100 million training facility.
At a Las Vegas Stadium Authority (LVSA) meeting this week, the Oakland Raiders and general contractor Mortenson Construction said the $1.8 billion total is guaranteed, meaning they will be on the hook for any financial overages.
The State of Nevada is funding $750 million of the 65,000-seat domed facility through hotel occupancy taxes incurred in Clark County. The Raiders and franchise owner Mark Davis are spending $850 million, and the remaining $200 million will come from the NFL.
Land Acquisition $77.78 million
Construction $1.33 billion
Furniture, Fixtures & Equipment $122.85 million
Design, Engineering & Soft Costs $233.85 million
Utility & Infrastructure Costs $31 million
Construction is already underway at the stadium site, which is located at I-15 between Hacienda Avenue and Russell Road. Along with the Raiders, the domed venue will play host to the UNLV Rebels football team once completed.
Raiders Hope to Improve Odds
The Raiders are coming off a 6-10 year that followed a wildly successful 2016 campaign where the team went 12-4 and seemed poised for a deep playoff run before quarterback Derek Carr suffered a season-ending injury in Week 16. In hopes of returning to 2016 form, Davis is spending $100 million to bring back coach Jon Gruden.
The 10-year deal means Gruden, who coached Oakland from 1998 through 2001 before leading the Tamp Bay Buccaneers to a Super Bowl win the following year, will likely be at the helm when the Raiders invade Sin City.
The Westgate SuperBook has Oakland at 20/1 to win Super Bowl LIII. New England is the favorite despite being upset last month by the Philadelphia Eagles. The Patriots are at 5/1, followed by the champs at 6/1. The Minnesota Vikings and Green Bay Packers are at 12/1, and the New Orleans Saints round out the top five at 16/1.
Raiders fanatics can find slightly better Super Bowl LIII futures at online sportsbook Bovada. The silver and black are longer at 22/1, meaning a $100 wager would net an extra $200 should Oakland win their first championship since 1983.
Las Vegas Success
When the Oakland Raiders become the Las Vegas Raiders ahead of the 2020 NFL season, the team will hope to enjoy similar fortunes as the first professional Big Four (NFL, MLB, NBA, NHL) sports team to call Sin City home.
The Vegas Golden Knights, an expansion team of the NHL, became Las Vegas’ first pro sports organization last fall.
On February 1, the Golden Knights set the league’s expansion team record for wins in their debut season with 34 after only 50 games. Vegas currently has the fourth-best record in the entire NHL, and holds a commanding eight-point lead in the Pacific Division.
The SuperBook lists the Golden Knights at 7/1 to win the Stanley Cup. After a few disappointing weeks, the line is a bit longer than last month when Vegas was the odds-on favorite at 5/1 to win the title.