Reports: Goldman Sachs leaving proposed Raiders stadium deal

 

(KRON) — A source tells the Los Angeles Times that Goldman Sachs is backing out of a deal to build a stadium in Las Vegas for the Oakland Raiders.

Goldman Sachs is reportedly only involved in financing the project if billionaire Sheldon Adelson was involved. This comes a day after Adelson decided not to fund the $1.9 billion project.

If Adelson is not involved in the deal, neither is Goldman-Sachs, according to the source.

The deal the Raiders presented to the National Football League this month focused on Goldman Sachs funding the project without Adelson.

NFL owners are expected to vote on the move to Vegas in March. With Adelson and Goldman Sachs out of the picture, it has cast a shadow of doubt on whether there will be a quick decision into the matter.

Adelson originally pledged to give $650 million toward the proposed Las Vegas stadium. The Raiders would give $500 million and the Nevada Legislature would contribute $750 million in public funds that was approved last year.

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