After months of speculation, the Oakland Raiders are preparing to file relocation papers for their move to Las Vegas, according to Ian Rapoport of NFL.com.
Sources: #Raiders WILL file relocation papers to move from Oakland to Las Vegas. Pending a vote of the owners, the @NFL enters a new world.
— Ian Rapoport (@RapSheet) January 14, 2017
Mark Davis and Co. were given a five week window to file for relocation after their loss in the Wild-Card playoff game last weekend. The next step for the Raiders is a vote from the NFL owners, three-fourths of which (24) must approve the relocation before the team can take action. The vote is likely to take place sometime in the spring.
The seeds for a move to Las Vegas were planted three months ago, when the Nevada State Assembly approved a bill to raise taxes for a new NFL stadium, something that would give the Raiders a whopping $750 million of public money for a proposed $1.9 billion stadium. The Raiders are planning on receiving an additional $650 million from Sheldon Adelson, CEO of the Las Vegas Sands Corporation. Most of the remaining $500 million will be taken care of by a loan from the NFL and new personal seat licenses, something 49ers fans know all about.
According to Rapoport, the city of Oakland has remained unable to make any progress on a stadium proposal to keep the team in the Bay Area. Davis has stated previously that should the relocation plans be approved, he plans on keeping the team in Oakland until the new stadium is finished being built.