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Nevada governor signs bill raising tax to finance NFL stadium in Las Vegas

08 DEC 2013: Oakland Raiders wide receiver Jacoby Ford (12) prior to the game between the New York Jets and the Oakland Raiders played at Met Life Stadium in East Rutherford,NJ08 DEC 2013: Oakland Raiders Owner Mark Davis prior to the game between the New York Jets and the Oakland Raiders played at Met Life Stadium in East Rutherford,NJ. The New York Jets defeated the Oakland Raiders 37-27.
Rich Graessle/Icon Sportswire

Just four months ago, the NHL announced its expansion plans to place the first professional sports team in Las Vegas, NV. The city hopes the NFL will become the second professional sports league in the Sin City.

Nevada’s governor signed a bill Monday clearing the way for a Las Vegas football stadium that could be home to the Raiders.

“Las Vegas is ready for this. Nevada is ready for this,” Nevada Gov. Brian Sandoval said in an interview afterward. “The best brand on the planet is coming together with one of the best brands in professional sports. It is truly one of those situations where 1+1(equals)3.”

Although Sandoval makes it sound like a done deal, the league would still need to approve any relocation plan the Raiders have before the organization would be permitted to move to Las Vegas. In order to relocate, Raiders owner Mark Davis would need three-fourths majority of the NFL team owners to vote yes. In the past, NFL owners have been very reluctant to the idea of placing a team in Las Vegas due to the state’s legal stance on sports betting.

Nevada lawmakers narrowly approved the deal in a special session last week. The deal will increase hotel taxes in the Las Vegas area in an effort to raise $750 million for a stadium and more than $400 million to expand and upgrade the Las Vegas Convention Center. In raw dollars, it’s the largest public contribution ever toward an NFL stadium.

Billionaire casino mogul Sheldon Adelson is putting $650 million towards the project too while the Raiders and the NFL have agreed to forking over $500 million.

The initial plan is for the UNLV football team to share the stadium with the Raiders.

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