LV Sports Biz is reporting that the Raiders will break ground on their Las Vegas stadium on Monday, November 13.
There aren’t any other details, but this does matchup with the timeline the Raiders need to meet in order to have the stadium ready for the 2020 NFL season.
Despite the ground-breaking on the roughly $2 billion stadium, the Raiders still do not have access to the public funds going towards this stadium.
Clark County is putting up $750 million to help pay for the stadium. But the Raiders can not use that money until the team signs a development agreement with the Las Vegas Stadium Authority.
Originally, the authority wanted to sign the development agreement - and all other documents to finalize this stadium’s construction and funding - this month. But the October stadium authority meeting was canceled, as there are no documents ready to be signed.
The Raiders have pegged February as the time for signing the development agreement. The Raiders also have to sign a lease agreement with UNLV, which has been punted until February as well.
According to the law passed by the Nevada legislature in the 2016 special session, the stadium authority and the Raiders must have the development agreement completed by April 17, or the tax money collected for the stadium will be funneled to UNLV for a new, university only stadium. That is dependent on UNLV raising $200 million in private funds for their own stadium.
If UNLV could not or would not build their own stadium, the money would be directed to the Las Vegas Convention and Visitors Authority.
Tyler Bischoff hosts Coaches Corner on AM 720 KDWN Monday through Friday at 6:00 pm.