By Alan Snel of LVSportsBiz.com
When casino tycoon/Las Vegas billionaire/local newspaper owner Sheldon Adelson bailed on the Raiders stadium and his $650 million pledge for its construction in early 2017, it left a big stadium funding gap that was filled by the Raiders with a bank loan.
But don’t shed tears for the Raiders. The NFL team, without Adelson, is already doing nicely in the stadium revenue department — and the domed, 65,000-seat venue isn’t even supposed to be ready until July 31, 2020. Not only has the Raiders piled up more than $350 million in personal seat license revenues and have $750 million in public dollars in their back pocket , the NFL team has begun compiling an impressive portfolio of founding sponsors for the stadium.
On Wednesday morning, the Raiders added a group of four Las Vegas-area Ford dealers to their list of founding stadium partners, which includes Caesars Entertainment in a deal from two years ago, stadium naming rights partner Allegiant Air under an agreement announced three months ago and San Manuel Casino, which joined the roster just last month.
Raiders President Marc Badain told LVSportsBiz.com after Tuesday’s Ford partnership announcement that he expects “more than a dozen” stadium founding partners. Here’s the Badain interview.
Gary Ackerman, owner of Gaudin Ford, said the agreement is a 10-year deal. Here’s Ackerman discussing why the stadium partnership made business sense to the local Ford dealers. “There will be a lot of signage,” Ackerman said.
Ford Motor Company has a long history with the NFL, and a regional Ford marketing executive from Arizona, Brad Jones, explained why Ford partnered with the Raiders, mentioning that the Raiders fan base and Ford customers align well.
LVSportsBiz.com even chatted with former Raiders defensive lineman Reggie Kinlaw, who played on the Raiders from 1979-84 and knows what it’s like for the Oakland franchise to move to a different city. In his case, it was the Raiders’ move from Oakland to Los Angeles. Kinlaw won two Super Bowls with the Raiders.
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