Authority Expected To Approve Delay In Raiders Stadium Agreement

The team that is expected to eventually be the Las Vegas Raiders will eventually have a finalized agreement with the Las Vegas Stadium Authority to get their stadium built. But, it won't be this Thursday.

The Raiders, still playing in their native Oakland, hope to open the 2020 season in their new home. For that to happen, however, they need to stick to a very tight schedule. And they - not necessary through anyone's fault - have been pushing the envelope.

The stadium authority had originally hoped to start considering the agreement at their meeting scheduled for Thursday.

But, it was announced last week, that won't happen before February. (For more information on the fatal punch case and other Las Vegas stories, subscribe to Patch to receive daily newsletters and breaking news alerts. If you have an iPhone, click here to get the free Patch iPhone app.)

Before the agreement with the stadium authority can be done, the team needs to finish its agreement with the two construction companies that are going to be the lead builders of the stadium.

For that agreement to be done, the financing agreement with Bank of America needs to be completed.

For that to be completed, there needs to be a guaranteed maximum price of the stadium - something BOA needs before they agree to pony up close to $1 billion in loans.

And the guaranteed maximum price won't be finalized until February.

All sides say that the delay in the development agreement should not delay construction on the stadium.

So, now. Instead of starting work on the agreement, the authority is expected to approve a six-month delay.

Image via MANICA Architecture.