The Oakland Raiders will formally file for relocation to Las Vegas within days, reports Ian Rapoport of NFL Network.
Rapoport reports that Raiders management has made a firm decision to pursue relocation after failing to secure public funding for a new stadium in the Oakland area. The Raiders made the playoffs for the first time in more than a decade this season, but they were ejected by the Texans in the wild card round.
The Raiders have $750 million in public funding committed for a new stadium in Las Vegas, via a hotel tax. That’s part of a plan that would have the rest of the financing coming from casino magnate Sheldon Adelson pitching in $650 million and the Raiders another $500 million. However, that plan is not finalized and details are still being negotiated.
Another financing plan was presented to owners by the Raiders earlier in the process. The team has options for getting a new stadium built in Nevada.
It’s important to note that this is just a step in the process of making the relocation formal. It could take approximately 4-6 weeks before relocation actually comes to NFL owners for a vote. When it does, the Raiders will need the approval of 24 out of 32 owners to get the green light.
This news came just days after the San Diego Chargers announced a move to Los Angeles. If the Raiders relocation is approved by NFL owners this spring, Rapoport says the team will continue to play in Oakland while a new stadium is built in Las Vegas.
The Rams were relocated from St. Louis to Los Angeles a year ago. The Raiders have been relocated twice before. The late Al Davis moved them from Oakland to Los Angeles in 1982 and back to Oakland in 1995. Now his son Mark Davis appears ready to leave Oakland behind permanently.