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Stadium Authority still working on Raiders lease

Posted at 6:41 PM, Mar 09, 2017
and last updated 2017-03-09 22:11:01-05

With NFL owners expected to vote on the Raiders move to Las Vegas later this month, the team is still working on a lease agreement for the proposed $1.9 billion stadium.

The Las Vegas Stadium Authority met Thursday to discuss key elements of the team's lease, but said it will not be completed until after the NFL's owners meeting March 26-28.

Raiders representatives did not attend the meeting, just days after telling an NFL committee Bank of America will provide the $650 million in funding originally pledged by Sheldon Adelson and Goldman Sachs.

Chairman Steve Hill said he told the team they didn't need to be at the meeting for the presentation.

The team instead sending a report saying the planned move to Las Vegas is "on pace" for a vote at the owners meeting at the end of the month.

Some were worried not having a lease in place could delay the vote, but Hill says he doesn't believe that is the case.

“My sense is the approval will come, if it comes, with some conditions around what is important to the NFL around what the content of that lease will be,” Hill said.
The Stadium Authority is not expected to approve a lease at its April meeting with Hill saying the board will not rush the process.