Casino mogul Sheldon Adelson has finally disclosed his reasons for shutting the door on financing a new $1.9 billion stadium in Las Vegas for the NFL Raiders.
According to Andy Abboud, the vice president of government relations and community affairs for Las Vegas Sands, Adelson thought the Raiders were taking advantage of him.
"(Adelson) was willing to share revenues and make it financially mutually beneficial, but they were picking his pocket," Abboud said, via the Las Vegas Review-Journal. "I think that they felt they were asking to be entitled to revenue streams and things that simply made the deal unworkable. It was never about the financial return for the Adelsons, but the Adelson family wasn't going to have their pocket picked, by the Raiders or by the NFL or anybody."
Abboud continued: "We just kept hearing conflicting stories about how we could do it and how the NFL owners felt about it. We felt it was conceivable that they were using that as a tool for manipulation. I don't know."
The Raiders will also have a difficult time securing financing from Goldman Sachs as the investment firm works closely with Adelson.
The Raiders President, Marc Badain, insists that financing will not be an issue moving forward with the relocation to Vegas.
"We're in an industry where we're used to plugging along, and we're used to having starts and stops. [Raiders owner] Mark Davis made a commitment to Gov. Sandoval, and we intend to see that through."
Adelson looms large regardless as many believe the power he wields in Vegas is too much for that team to overcome should the casino mogul believe the organization somehow double crossed him. On the surface at least, it certainly appears as if there is bad blood.
On the other end of the spectrum, NFL Commissioner Roger Goodell might be more amendable to embracing the Raiders move to Vegas as many believed he was unhappy with a casino figure owning part of the new stadium.
- Aaron Goldstein, Gambling911.com