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Owners may vote next week on Oakland Raiders' proposed Vegas move

By The Sports Xchange
Owners may vote next week on Oakland Raiders' proposed Vegas move
Oakland Raiders owner Mark Davis walks on the field prior to the Raiders playing the St. Louis Rams in a pre-season game at O.co Coliseum in Oakland, California on August 14, 2015. Photo by Terry Schmitt/UPI | License Photo

NFL owners could vote next week at the league meetings on the Oakland Raiders' proposed move to Las Vegas,.

The league meetings begin Sunday in Phoenix and run through March 29. The Raiders need the approval of 24 of 32 owners to relocate to Las Vegas.

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According to CSN California and CBS Sports, relocation is on the owners' agenda and a vote could come as early as Monday. A vote also could be postponed until the owners' May meetings in Chicago.

One team owner told ESPN's Dan Graziano that a vote next week is "more probable than not." A vote would be contingent on the Raiders securing a lease and fulfilling other obligations, according to ESPN.

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Raiders owner Mark Davis filed an application with the league in January to move the team from Oakland to Las Vegas in time for the 2020 season.

The team is proposing to build a $1.9 billion domed-roof stadium in Las Vegas, near the Strip. The stadium would be financed with $750 million in public funding and a $650 million construction loan from Bank of America, with the Raiders and the NFL adding an additional $500 million mostly from the sales of personal seat licenses.

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The Raiders would still need to sign a lease with the Las Vegas Stadium Authority Board, which is not expected to review the terms again until after the Phoenix meetings.

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The proposed stadium also would become home for UNLV's football team, and Las Vegas officials expect the facility to open in 2020. The Raiders would need to play the 2019 season in a temporary facility because they have only two years remaining on their Coliseum lease.

Ronnie Lott, a former Raiders defensive back, is working with Oakland officials on a plan to build a $1.3 billion stadium near the Coliseum, but it appears to be a long shot considering the lack of interest from Davis and NFL executives.

The Raiders would pay a transfer fee in the range of $325 million to $375 million in connection to the proposed move to Las Vegas, Peter King of TheMMQB.com reported. That would be considerably less than the $650 million the St. Louis Rams and San Diego Chargers each paid to move to Los Angeles.

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