Las Vegas stadium proposal could cost taxpayers record $750 million

[pavyracer]

https://www.yahoo.com/sports/blogs/nfl-shutdown-corner/las-vegas-stadium-proposal-could-cost-taxpayers-record--750-million-183902682.html

Billionaire Sheldon Adelson, the 15th richest person in America with an estimated net worth of $26 billion, has proposed that Las Vegas build a domed stadium to woo the Oakland Raiders to Sin City. Under Adelson's plan, the building would be funded using $750 million in municipal bonds.

The rich get richer and taxpayers pay for their toys.

[VeggieDog]

https://www.yahoo.com/sports/blogs/n...183902682.html


The rich get richer and taxpayers pay for their toys.

And they do it willingly. What a country!

[jjgold]

Lol

Going to be a bust

[packerd_00]

These rich f@ckers are the biggest cheapskates going.

[OTL]

These rich f@ckers are the biggest cheapskates going.

That's how most self made people became rich in the first place.

[jjgold]

Vegas residents do not have enough money to support it

Lower paying jobs for most part

[packerd_00]

That's how most self made people became rich in the first place.

Yeah mooching off everybody else,I know dicks like that,oh I left my wallet at home,you know those sorts of people.

[Sledge187]

Just tax the tourist some more.

[BestPlay2day]

Just charge a resort fee like the hotels. Might as well scam the users.

[TheMoneyShot]

Ask any rich person...

You have to fuk people over to continuously make gains.

No such thing as fair business.

[jjgold]

More fees
Less income
Cannot work

[pavyracer]

Just charge a resort fee like the hotels. Might as well scam the users.

The guy is worth $26 billion dollars yet he needs $0.75 billion taxpayer money to build a stadium. Do you see the irony?

I'd rather see the 750 million spent in infrastructure. Build a water treatment plant or highways. Las Vegas would run out of water by the time they build this stadium.

[BriGuy]

The residents of Las Vegas and Nevada are going to tax tourists to pay for their stadium. Can't say I blame 'em.

[Cookie Monster]

The residents of Las Vegas and Nevada are going to tax tourists to pay for their stadium. Can't say I blame 'em.

Do you understand taxes elasticity? I mean, if you can tax tourists to build an stadium, you could instead tax tourists to fund any other worthy issue (education, infrastructure, roads, etc).

Most serious studies show that stadiums do not create surplus economic activity, they just relocate disposable income from other local options (dining, shows, etc.) to stadium.

[jjgold]

Three years they move to another state

[SBR_Guest_Pro]

Just an easier way for raiders to throw games because they are betting thr spread in the sportsbook

[Thryleon]

It depends how the stadium is used. If it is kept only for athletic activities then yes it does not create revenue. But if it is also used for symposiums, exhibitions, raleighs etc.. then it does create a revenue which can depreciate the total cost within 10 years max. Afterwards its revenue is net profit. If it is funded by municipal funds then it's net profit for Las Vegas.

[goduke]

Easy way to solve these problems. Just vote it down. If non rich people continually demonstrate being stupid then why not take advantage of them. It doesn't get much dumber then a rich person begging for a handout and spinning it using the words like "new jobs", "extra money for the states economy" etc. and people just saying ok. What then makes it even worse is then they get the team and are willingly ok paying for PSLs and every other cost to go to an overpriced shitty game. Then once the glitz wears away the owners put out ashitty team that has no chance to compete and still makes a profit off idiots. Good job

[Mr KLC]

Even as the summer months pass without a stadium financing deal in place, nothing has curbed Oakland Raiders owner Mark Davis’ enthusiasm for moving his NFL franchise to Las Vegas.

Davis attended the Raiders’ practice in the Bay Area on Thursday while keeping an eye on the Southern Nevada Tourism Infrastructure Committee meeting on the UNLV campus, where the stadium project was debated in more detail.

“I’ve been through these things a number of times, and I think ‘sense of urgency’ is a strong phrase,” Davis said in a phone interview. “We’ve got to make it work and make sure all parties are happy. I think we’re getting there. Everybody is working hard on all sides.

“If Las Vegas can come through, we’re going there. I have not wavered on that one iota. I’m totally excited about it.”


The Raiders’ stadium project was first addressed publicly at the April 28 SNTIC meeting. At that time, Davis said he was not using Las Vegas to leverage a better deal in Oakland.

On Aug. 20, the Raiders filed trademark applications with the U.S. Patent and Trademark Office for “Las Vegas Raiders,” according to a Thursday report by Forbes that Davis confirmed. It does not guarantee that the NFL franchise is relocating, but it is another indication of the Raiders’ intentions.

http://www.reviewjournal.com/sports/nfl-vegas/raiders-owner-mark-davis-totally-excited-about-las-vegas-stadium-plans

[jjgold]

It would do well

Good City

[brooks85]

https://www.yahoo.com/sports/blogs/n...183902682.html


The rich get richer and taxpayers pay for their toys.

perfect place to do it, CA full of low IQ idiots who would gladly giver their money away for nothing in return. Not all of them but the vast majority. Thank the lord for the electoral college.

[DrunkHorseplayer]

Hopefully LV voters will send this down in flames.

[kfranz31]

its a room tax...Nevada residents wont pay unless they opt ti stay at a hotel and then its basically .88 for every 100 spent on a room..so not even that noticeable for the the tourist eye......yes they have to pay for parking at all mgm properties....but in atlantic city every one pays to park even the workers.....so this isn't that bad

[jjgold]

Let's get weed passed 1st

Easy cash to re sell

[Ghenghis Kahn]

[teecee]

And they do it willingly. What a country!

What a bunch of morons. Guy need to invest his money in his business. What a crock of shit.

[BuckyOne]

A fan has no rights in this - these owners perform a form of blackmail - build a new stadium for me or we will leave - we'll get a team here, etc. Lease is up - same song and dance. Meanwhile, the poor schmucks that had season tickets for 25 years have no team when they move.

[Grits n' Gravy]

Lol

Going to be a bust

Vegas residents do not have enough money to support it

Lower paying jobs for most part

More fees
Less income
Cannot work

Three years they move to another state

It would do well

Good City

Let's get weed passed 1st

Easy cash to re sell

You have like 90 personalities and every single one of them is of well below average intelligence.

[brooks85]

It is a hotel tax, people from CA and other tourist will pay for it. Smart move.

[teaserpleaser]

Vegas residents do not have enough money to support it

Lower paying jobs for most part

Vegas with raider fan is going to be nuts.

Good luck with that.

[Monitor-Tan]

You have like 90 personalities and every single one of them is of well below average intelligence.

[jjgold]

Vegas does not want it

Well upper congress does not want it

[DwightShrute]

oldie but a goodie

[Mr KLC]

The Oakland Raiders had no comment on an East Bay Times report Tuesday night that an investment group tied to Pro Football Hall of Famer Ronnie Lott wants to purchase the Oakland Coliseum and its surrounding land in hopes of keeping the team in Oakland.

The Raiders, after what they have described as eight years of failed negotiations to get a new stadium in Oakland, have their sights set on moving to Las Vegas, if the Southern Nevada gaming capital can come through with a new domed stadium. An oversight committee in Las Vegas has recommended to Nevada Gov. Brian Sandoval a $750 million hotel tax to help pay for the $1.9 billion stadium. The Raiders would contribute $500 million, which includes a loan from the NFL, while the family of Sheldon Adelson -- chairman of the Las Vegas Sands Corp., a casino and resort outfit -- has pledged another $650 million.

But before Sandoval could call a special session of the Nevada Legislature to vote on the proposal, the group hoping to keep the Raiders in Oakland sent a letter to Oakland Mayor Libby Schaaf, Alameda County Supervisor Scott Haggerty, Oakland Councilman Larry Reid and other officials stating its desire, according to the East Bay Times.

According to the report, Stadium Real Estate Partners and The Integral Group have offered to buy the Coliseum and the surrounding land for $167.3 million, with the intention of renovating the stadium or building a "state-of-the-art" facility.

http://www.espn.com/nfl/story/_/id/17600860/group-offers-buy-coliseum-keep-raiders-oakland

[Ralphie Halves]

Some of you never cease to amaze me. If there's a remedial business course online, like one they give children that are falling behind other children, go take it. I'll pay for it.

- Yes, it's a tourism tax. It's like a 57 cent add-on to your hotel room, or was. May have gone up some, but it's nominal.

- "You should be using tax money for schools and roads and other things that I like" -- retard, we already do that. An NFL team would bring MORE tax money in for these other things too. Cookie explained this already.

- Stop crying about rich people. You want to be the place that brings rich people in, not the place (California) that drives them away. You know which cities have a very low number of rich people per capita? Fresno, Detroit, Chester PA, Newark. They used to have them, now they don't. Wanna live there?

- The riff raff Oakland fans (big fat NorCal Mexicans with shaved heads and shitty mustaches, we all know what they look like) are going to be priced out for the most part. These tickets won't be cheap, especially because like the hockey team, a lot of tickets are going to high rollers.

It can't be anything but a huge net positive, mainly because locals aren't getting stuck with the bill. I'm not looking forward to the traffic, but can't wait to have a real NFL team here.