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UPDATE: Las Vegas Stadium Authority signs Raiders lease

Posted: 6:01 PM, Mar 01, 2018
Updated: 2018-03-29 00:52:19Z
Raiders Vegas Stadium lease heads to NFL owners
Raiders Vegas Stadium lease heads to NFL owners

UPDATE MARCH 28: The Las Vegas Stadium Authority signed off on the Raiders development and lease agreements for the stadium Wednesday.

UPDATE MARCH 27: NFL owners approved the Raiders stadium lease on Tuesday, exactly one year after the owners approved the team's move to Las Vegas.

ORIGINAL STORY

The Las Vegas Stadium Authority approved the lease in form giving NFL owners and Clark County leaders a chance to review the deal.

After approving the deals Thursday, the stadium authority is waiting for NFL owners and the County to sign off on the more than 50 legal documents that make up the lease.

Essentially that comes down to dotting "i's" and crossing "t's."

One of those details is the final cost of the stadium.

That number has long been expected to be in the $1.8 billion range, with another $75-100 million set aside for the Henderson practice facility.

The Raiders are expected to get the final construction estimates from the contractor in 10 days, presenting it to the stadium authority and NFL owner.

"I certainly don't want to make any predictions, but we've had tremendous conversations with members of the league staff who brief the finance committee," Raiders team president Marc Badain said.

The stadium authority is already planning to sign the lease on March 29.

The Raiders also said Thursday they had identified a total of 27,000 potential parking spaces within a mile and a half of the stadium.

This as they look to meet the requirement of 16,000 spaces placed on the team by Clark County officials.

The stadium site will only accommodate about 2,500 spaces.

Badain said the team is working on deals for the spaces they identified, but would not give any specifics on the location of the parking spaces.