Stay or Go: Adelson out, NFL could delay vote on Raiders move
LAS VEGAS (KGO) -- The proposed move by the Raiders to Las Vegas is now up in the air following a dramatic change of events.
ESPN: Goldman Sach re-evaluating Raiders Vegas deal
First, business mogul Sheldon Adelson said he was out and would not invest in the new stadium. Tuesday, Goldman Sach said without Adelson, it would not be a financial backer.
There is renewed enthusiasm and hope that the Raiders will stay put in Oakland.
For weeks now the organization has claimed that Goldman Sachs would help finance the $1.9 billion stadium deal if Nevada billionaire Sheldon Adelson dropped out.
He announced Monday that he could no longer support the plan and Tuesday, multiple reports say Sachs was pulling the plug too.
Adelson complained that he had been left out of some critical talks regarding the new stadium.
"If I was going to put $650 million in someone's pocket, and knowing what he did to get the deal together, to work with the local elected officials to the deal happen, and not get a piece of the action, I'd probably be upset too," said Oakland-Alameda County Coliseum Authority Commissioner Chris Dobbins.
The stadium was going to be funded through Adelson's $650 million, he then convinced the Nevada Senate to commit $750 million, then the Raiders and NFL would be in for $500 million.
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Unlike Adelson, Goldman Sachs wasn't expected to be an investor in the deal, only a lender.
"You can borrow the money, but you have to pay it back. Davis has said they don't have the money to build the stadium by themselves.
With this latest development, some speculate the NFL could table any vote on a Raiders move.
"So I think Oakland is the right place for the Raiders," said Councilmember Noel Gallo. "It's got the fan base, the community and most importantly we want the Raiders to stay in Oakland."
RELATED: Adelson pulls $650 million investment from Raiders Vegas stadum deal
Meanwhile, Ronnie Lott and his investment group say they are ready to work with Davis to come up with funds fo the construction of a $1.2 billion stadium in Oakland, something that Davis has not wanted to discuss.
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