Without significant financial backing, Mark Davis just doesn't have the financial wherewithal to take care of Adelson's part of the almost $2 billion stadium project, so financing needed to be secured and with time running out the Raiders have told the NFL's finance and stadium committees they have secured it with Bank of America.
NFL Executive vice president Eric Grubman has been on record since January stating that Raiders owner Mark Davis' plan to move the team to Las Vegas was "impressive", despite have casino magnate Sheldon Adelson still on the proposal. The Raiders confidently assured the public that Goldman Sachs was planning on swooping in and replacing Adelson, but they too hightailed it away from the deal a day after Adelson.
If they land in Las Vegas, they would become only the second major sports franchise ever based there. The owners ignored a committee recommendation when they chose the St. Louis Rams and San Diego Chargers to move to Los Angeles. Of special importance are the owner's finance committee, of which Kansas City Chiefs owner Clark Hunt is a part, and the stadium committee, which includes Art Rooney II, Stephen Jones and Dan Snyder among others. However, Adelson dropped out with an angry letter that cited his dismay at several of the Raiders' proposed terms for its use of the stadium.
Meanwhile, Oakland mayor Libby Schaaf was part of a group that presented their city's stadium plan to the National Football League today.
It would be a huge surprise to see the league's 32 owners vote down a plan that involves $750 million in free money. The Silver and Black are moving to Las Vegas.
In October, Nevada Gov. Brian Sandoval signed a bill for $750 million in public funding towards the almost $2 billion stadium project.