Raiders find new financial backing for Vegas move

Despite Sheldon Adelson pulling out of his commitment to fund the Vegas stadium, Oakland Raiders’ move to the Sin City may still be a go.

According to Bleacher Report’s Jason Cole, the Raiders have “two banks ready to loan money” that will fill the $650 million hole that Adelson left when he withdrew from his pledge to help build a new stadium that would serve as the new home of the Raiders if their plans to relocation are approved by the other NFL owners.

Steve Sisolak, chairman of the Clark County Commission, confirmed the news, telling Fox 5 that two unnamed banks have committed to help build the $1.9 billion Las Vegas stadium.

The Raiders have already submitted paperwork with the NFL to move from Oakland to Las Vegas, but their move had stalled following the Adelson debacle. The casino magnate, who had been instrumental in luring the NFL team to the desert, claimed the Raiders froze him out of negotiations with the city for revenue sharing.