Las Vegas is positioning itself on the sporting map this year.
After the announcement of an NHL team coming to the city, it’s the NFL’s turn to make its move.
The Oakland Raiders have declared they will be moving the team to Las Vegas.
The proposal was made on Monday at an annual league meeting between owners, and the vote sat at 31-1 in favor of a relocation.
Why was this decision made?
It stemmed from Mark Davis’ attempt at setting up a stadium in Oakland. He worked hard on it for years but was unable to come up with a resolution. This meant it was time to explore external options in other viable cities around America. A few names came up such as Los Angeles (now home to the Rams) and Las Vegas. They decided to go with the latter after a stadium agreement was found. The expected stadium is going to be doomed and will nestle in at a value of $1.7 billion according to sources.
The allure of Las Vegas has to do with the amount of capital it has to offer any team that sets up shop. It is one of the largest cities in the region from a financial perspective with money pouring in from all areas. Las Vegas also happens to be the entertainment capital of America making it a legitimate marketing bonanza for any team that arrives in town. This is the reason Mark Davis is now in agreement with relocating his franchise.
What will happen between now and when the stadium is released? This is the question Mark Davis has been looking to answer in the short-term.
The answer has come in the form of staying as the Oakland Raiders for a minimum of two seasons with an option for a third season. However, Roger Goodell has mentioned they might consider another stadium in 2019, so the team doesn’t have to stay in Oakland for that season as it wants to relocate. This is a decision that will be made as they draw nearer to that season.
The team will be playing for the Oakland Raiders until 2020 regardless of where it plays.
A lot of shuffling has taken place in recent times among NFL franchises with relocations becoming a part of the business. It started with the St.Louis Rams heading back to Los Angeles, while the Chargers also followed suit as a second franchise in L.A. While, this is the third franchise that is going to relocate.
What is the reason for moving away from Oakland? Was it just the allure of setting up shop in Las Vegas and not being able to get a new stadium? According to sources, it had a lot more to do with the financial aspect of running a team in Oakland. They were not able to maximize stadium revenues, and it was eating into the league’s back pocket. It is for this reason; the NFL owners were on board with a relocation as soon as possible.
As for Oakland, they did make a last ditch attempt at salvaging this situation by stating it was a storied franchise and one that has been around for years. They proposed a $1.3 billion new stadium funded through various sources, but it didn’t get approval from Mark Davis and his team.
Roger Goodell felt the proposal was flimsy and didn’t provide enough clarity to avoid relocation. There were no dates for when the stadium would be prepared and how those initial years could be managed financially.
With 57 years under its belt, the Oakland Raiders will be missed in the area, but its new chapter in Las Vegas is bound to be one filled with intrigue moving forward.