LAS VEGAS (KGO) -- The Oakland Raiders' bid to relocate to Las Vegas has hit another financial roadblock that could put the team's planned move in jeopardy, a source told ESPN's Ramona Shelburne.
Investment bank Goldman Sachs is re-evaluating its relationship with the planned deal, a source close to the negotiations told Shelburne.
Billionaire Sheldon Adelson announced yesterday that he was decided to not invest $650 million in a proposed $1.9 billion domed stadium in Vegas.
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Oakland city officials say they're moving forward with their effort to keep the team and maintain the East Bay was always the best option for the Raiders.
"Oakland has one of the strongest markets when it comes to the National Football League, secondly we have the land, we have the stadium complex, we have the transportation, we have the investment," said Oakland City Councilmember Noel Gallo.
The Adelson family released this statement: The Oakland Raiders came before the Las Vegas Stadium Authority last week with a proposed lease agreement that has sent shockwaves through our community.
It was certainly shocking to the Adelson family. We were not only excluded from the proposed agreement; we weren't even aware of its existence.
In addition to being discouraged by the surprise submission, I was deeply disappointed for the disregard the Raiders showed our community partners, particularly UNLV, through the proposed agreement.
It's clear the Raiders have decided their path for moving to Las Vegas does not include the Adelson family. So, regrettably, we will no longer be involved in any facet of the stadium discussion.
While this is not the result my family was hoping for, I am very appreciative of the countless people who have given considerable time and energy to this process, especially so many of our elected officials who have made this a top priority for Southern Nevada.
The Oakland Raiders responded with this statement: The Raiders deeply appreciate the efforts of the Adelson family to bring the Raiders to Las Vegas. We know this project could not have advanced to this point without them. The Raiders remain steadfast in honoring Mark Davis' commitment to Governor Sandoval and the State of Nevada to pursue relocation to Las Vegas.
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ESPN has contributed to this report
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