Just Sell Baby!: Raiders’ Corporate Partnership Revenues Projected to Soar From 32nd To as High as Top Three In NFL Thanks To New Stadium in Las Vegas
By Alan Snel of LVSportsBiz.com
The Las Vegas Raiders have hit the jackpot in Las Vegas.
Everybody knows about the $750 million public subsidy from Southern Nevada to help build the 65,000-seat domed palatial stadium with the Darth Vader external architecture look.
But on top of that record public subsidy for an NFL stadium the Raiders’ have scored so many new corporate partnerships that the Raiders are projected to go from 32nd in the 32-team National Football League in annual partnership commitment revenues to as high as top three. Allegiant Stadium business partners include San Manuel Casino, stadium naming rights partner Allegiant Air of Summerlin, and Las Vegas Ford Dealers.
The Raiders held press conferences throughout the past year to herald the new corporate partners in their new market.
It’s not just corporate partnership revenues. The Raiders have already informed the Las Vegas stadium board that the team sold out its personal seat licenses to the total amount of nearly $500 million, which was about a doubling of the initial PSL forecast.
The Raiders’ corporate business partnerships generated more than $100 million in business revenues, with the average founding partner multi-year deal in the $30 million ballpark. It comes to no surprise that the Dallas Cowboys lead the NFL in annual corporate revenue revenues. The Raiders’ new founding partners like Caesars Entertainment will drive the team up the corporate sponsorship revenue ladder to as high as third but certainly to the top eight of the 32-team league.
The lucrative new corporate partnerships happened because of the new $1.97 billion stadium project, which includes a $1.4 billion construction budget. Even though the hotel room tax revenues will plummet for March and April because of the hotel-casinos closing from the COVID-19 pandemic, the Las Vegas stadium authority will have enough cash to cover its bond payments.
*
The Raiders headquarters will be in Henderson, where James Swanson, principal of Screaming Images, posted wall wraps in the Raiders’ offices Saturday. Here a couple of the LinkedIn photos.
Follow LVSportsBiz.com on Twitter and Instagram. Like LVSportsBiz.com on Facebook.
