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Sunday, July 9, 2017

In Oakland Raiders Las Vegas NFL Stadium Non-Relocation Agreement Impacts B Of A Financing

In Oakland Raiders Las Vegas NFL Stadium Non-Relocation Agreement Impacts B Of A Financing - Video

In Oakland Raiders Las Vegas NFL Stadium Non-Relocation Agreement Impacts B Of A Financing The Oakland Raiders Las Vegas NFL Stadium Financing Process has, as part of it, the much-talked about but not actually seen to-be-delivered Stadium Construction Loan or line-of-credit from Bank of America. But that agreement between Bank of America and the Las Vegas Stadium Authority and the Oakland Raiders is contingent upon the NFL team signing what is called a “non-relocation agreement”. A “non-relocation agreement” is just what it implies: a contractual promise the sports team makes that it will not pack up and move to another city. This “non-relocation agreement” assures that the 30-year-lease is solid, and even future disagreements between terms in it are not likely to lead to the team skipping town. That adds up to an assurance to a bank like Bank Of America that its long term loan, which will be equal to the legth of the lease, will be paid off over the period of years of the lease – according to what Bank Of America and other financing institutions have done since the year 2000, in my research, this is what is the case with the Raiders and B Of A. Non-relocation agreements have played a role in securing financing for The Houston Texans Stadium (2000), The Sacramento Kings New Arena (2016), both the new stadiums for the Atlanta Braves and the Atlanta Falcons (2014, the new Florida Marlins Stadium (2008), and was called for the Raiders to sign in the initial documents issued by the Southern Nevada Tourism and Infrastructure Committee (SNTIC) in 2016. And now, the Oakland Raiders have not signed the agreement as of this writing. A signed non-relocation agreement gives comfort not just to lenders like Bank of America, but potential corporate sponsors. If a company sponsor manager looks at a team like the Oakland Raiders, and wonders if they're going to threaten to leave town at the drop of a hat, that negatively impacts what the firm will spend, if it does. On the other hand, if it's the Atlanta Falcons, and their signed non-relocation agreement, that helps secure what is now over $1 billion in sponsorships for its new stadium. This is arguably as important than the UNLV Joint-Use Agreement, and those leaked details have a number of alumi of that college freaking out, but that's another story. It's a fair bet that Bank Of America is concerned that the Oakland Raiders want to be the only team in sport not to sign a “non-relocation agreement” and yet secure long term financing for a stadium in Las Vegas. Could that be the reason rumors abound that Sheldon Adelson is back in the Oakland Raiders Las Vegas NFL Stadium deal? Remember, the Southern Nevada Tourism and Improvements Act (SNTIA) states that financing details don't have to be made public. Stay tuned.


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