As the possibility of the Oakland Raiders moving from California to Nevada seems more likely every day, backers of a new Sin City stadium now demand an incredible $750 million from taxpayers. They call the figure “not negotiable” in discussions with local politicians.
On the same day that the Oakland Raiders filed for trademark protection for the name “Las Vegas Raiders,” representatives from Majestic Realty and the Las Vegas Sands casino company noted that if state and local officials won’t contribute the massive amount of tax dollars to the construction project then they may walk away from the deal, the Associated Press reports.
“Not to be difficult, but we’re not negotiable,” the AP reported that Sands President Rob Goldstein said on Thursday. “If we can’t get 750, we respectfully thank you but we’re going to move on.”
If accepted by officials, the $750 million tax payout would become the single largest taxpayer contribution to a sports stadium in American history.
The public share is to be raised by a .9 percent sales tax on hotel rooms in the city–or about $1.08 per room, per night added to current hotel costs.
The next largest public share for a stadium was the $620 million the city of Indianapolis paid for Lucas Oil Stadium, followed by the $500 million paid in Minnesota for U.S. Bank Stadium.
The massive infusion of tax dollars, though, is already not sitting well with voters. A recent poll of Vegas citizens finds a lot of displeasure over the possible deal.
According to a KTNV-TV 13 Action News/Rasmussen poll, 55% of Clark County, Nevada, voters oppose coughing up $500 million in public funds to pay for a new stadium to entice the Silver and Black to relocate. The ultimate price tag may well eclipse that half-billion figure.
Others worry that the Raiders will move again after the big stadium is built leaving the taxpayers still on the hook for all the bills, the AP said.
Follow Warner Todd Huston on Twitter @warnerthuston or email the author at firstname.lastname@example.org.