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Looks like the staidum will be passed

Bullmastiff 1 said:
THIS THIS THIS THIS....
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I mentioned that UNLV would be charged to use this stadium before and was blown off. The proposal expected UNLV to pay $250,000 per game, to use the stadium. I know is rubs people the wrong way and was going to be discussed further. Not sure what changes were made and what version of the bill was voted on tonight.

 
121rowBseat3 said:
I mentioned that UNLV would be charged to use this stadium before and was blown off. The proposal expected UNLV to pay $250,000 per game, to use the stadium. I know is rubs people the wrong way and was going to be discussed further. Not sure what changes were made and what version of the bill was voted on tonight.

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Not sure why people believed UNLV would benefit from this stadium...purely a shell game by Adelson.
 
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So after SB1 vote in state senate last night... now what? Saw something about it moving forward into state assembly?
 
karaoke_jesus said:
It'll come out of the 3.4M that is owed to unlv for giving up all revenues at SBS. The university is actually coming out ahead.
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Explain to me how the University comes out ahead, when the payment they are receiving is to offset the loss of revenues?

UNLV loses events at Sam Boyd because of the new stadium. Also from the sounds of it, UNLV also loses concessions from the football games.
 
UNLV President is all for this, Coach TS is all for this. They know this is a game changer for UNLV
 
121rowBseat3 said:
Explain to me how the University comes out ahead, when the payment they are receiving is to offset the loss of revenues?

UNLV loses events at Sam Boyd because of the new stadium. Also from the sounds of it, UNLV also loses concessions from the football games.
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3.4M annual revenue owed to UNLV for SBS vs 1.5M paid annual expenditure to play in the new stadium. That's pretty simple math
 
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karaoke_jesus said:
3.4M annual revenue owed to UNLV for SBS vs 1.5M paid annual expenditure to play in the new stadium. That's pretty simple math
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Your math assumes that UNLV did not make those revenues annually from events at Sam Boyd. Considering that those events will most likely be lost with the new stadium it sure looks like a loss to me. You are viewing the annual payment as a gift to the university, not a payment to offset lost revenues. And I'm sorry if you fail to see that.
 
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karaoke_jesus said:
3.4M annual revenue owed to UNLV for SBS vs 1.5M paid annual expenditure to play in the new stadium. That's pretty simple math
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Let's look at it this way:

Say you have a job that pays you 3.5 mil per year and live your house free and clear.

Then you take a new job for the same pay but we're forced to buy a new home that costs you 1.5 mil per year... not such a good deal for you is it??
 
121rowBseat3 said:
Let's look at it this way:

Say you have a job that pays you 3.5 mil per year and live your house free and clear.

Then you take a new job for the same pay but we're forced to buy a new home that costs you 1.5 mil per year... not such a good deal for you is it??
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You think UNLV was forced into this? They could have easily stayed at SBS but that wouldn't be a step forward for the program
 
121rowBseat3 said:
Your math assumes that UNLV did not make those revenues annually from events at Sam Boyd. Considering that those events will most likely be lost with the new stadium it sure looks like a loss to me. You are viewing the annual payment as a gift to the university, not a payment to offset lost revenues. And I'm sorry if you fail to see that.
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And yet, that's what those revenues were valued at when they made the proposal.
 
Simple FACT is that UNLV did not make money off Sam Boyd when you looked at all of the upkeep expenses at the stadium.

1) They had to find alternative funding to put in the recent improvements at Sam Boyd.
2) They couldn't come up with money over the last 10+ years to make improvements to the Sam Boyd locker rooms.
3) They only finally received a decent scoreboard a couple years ago due to a donation.
4) They haven't paved the parking lot in 30 years.
5) They have not made any additional improvement to Sam Boyd since Robinson put in to tower.
5) It would cost well in excess of $100 million to bring Sam Boyd up to even decent condition and to add additional seats to breaking seat capacity up to even a decent level which would fall well short of any chance at a P5 invite..

Everyone at UNLV would not be fully behind the new stadium if this was some great money maker for the UNLV athletic department. As for increases in the cost of tickets to cover the $250,000 per game (my understanding is that they may be able to receive money from concessions during the games, but I am not sure if that is true or not as well as an amount up to 3.5 million - which I believe may include payments for up to 10 years - again not sure about this which may both help offset the cost since UNLV will no longer pay any of the cost for employees working the game). Also, UNLV already sent out a survey asking how much more season ticket holders would be willing to pay if they built their own on campus stadium, and from what I was reading, they already expected the cost of tickets would go up.
 
Does anyone know if the SBS $3.5M of annual revenue included $250K per game UNLV paid itself. It's plausible that UNLV pays SBS $250K per now which is part of the $3.5M annual revenue.

If so new agreement would be a wash.
 
The program isn't even surpassing 4000 season ticket sales right now and the Raiders Stadium doesn't fix that.
As for the Sanchez argument, his opinion is as an contracted employee that invest zero money into the process.
As for the Pac 12, the league has zero programs that rent a stadium from an NFL program.
Just because some people back an idea doesn't make it a good idea. This is a 30 year commitment from taxpayers that is dependent on economic health of the country & the energy production health of the world which will effect tourism.
This deal also depends on the Raiders staying committed to the area the entire time with hope that the stadium would remain viable if they leave.
You are also bringing an one of the NFL teams with the worst attendance to city that has a history of poor support for professional athletics.
It may be nice in the short term but beyond the first few year all the warts will pop up. Its not a good long term option, UNLV needs its own home in a college football atmosphere
https://en.wikipedia.org/wiki/List_of_National_Football_League_attendance_figures
 
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Who will actually own this stadium? The Raiders? Adelson?

I know SDSU shares Qualcomm with the Chargers...would this be similar to that arrangement?
 
Willlevi - You seem like your being a little negative again.

Comment: The program isn't even surpassing 4000 season ticket sales right now

Truth: UNLV sold 3,890 season tickets in 2013. They sold over 5,000 this season.

Comment: As for the Pac 12, the league has zero programs that rent a stadium from an NFL program.

Truth: The stadium will not be owned by the Raiders. There is a long term funding agreement, but the stadium is owned by Clark County and after a specific number of years will totally revert to the County. As for college teams playing in NFL stadiums, there are a very limited number of pro stadiums due to the limited number of franchises, so that does tend to limit the ability to play in a pro stadium since almost all of the P5 programs are not located in cities with NFL teams. Pitt (P5) does play in an NFL stadium, as well as Temple (average 45k this last season)

Comment: Just because some people back an idea doesn't make it a good idea. This is a 30 year commitment from taxpayers that is dependent on economic health of the country & the energy production health of the world which will effect tourism.

Truth: Most of the people in positions of power appear to be baking the idea of the new stadium for the Raiders, UNLV, as well as other special events that will bring tourist and new sources of taxable income. Time value of money means that by the time 30 years comes around the cost will be far lower than in the first year. The commitment cost is the highest in the first year and drops based on inflation each year after that. Based on that way of looking at things, we also shouldn't put out any bonds for new schools, sewage treatment plants, parks, libraries, LVVWD facilities, etc since these are all dependent on economic health.

Comment: This deal also depends on the Raiders staying committed to the area the entire time with hope that the stadium would remain viable if they leave.
You are also bringing an one of the NFL teams with the worst attendance to city that has a history of poor support for professional athletics.

Truth: The agreement requires the Raiders to be committed to staying in LV for 30 years from what I understand. The Raiders and Adelson are also putting out over a billion dollars which is a lot of money for them to want the stadium to fail. As for the City and its poor support for professional athletics? We have had minor league teams in Las Vegas and the only long term team the 51's attendance is within what is normal for a triple AAA club. Most minor league programs do not do well in large cities. The only types of programs that can be compared would be UFC, boxing, NASCAR, NFR, etc which have all done very well and have ticket cost in some cases that are higher than the cost of an NFL season ticket.

As for UNLV getting there own home stadium, they would need to come up with at least 200 million (with the 300 million from the hotel room tax), and likely a lot more to get even a decent 45k+ stadium on campus. This would be too small of a stadium to have any chance at all of getting into a P5 EVER! If UNLV had any chance to get 200 million in donations, they could also get just 20-30 million and cover the rental cost for the stadium in perpetuity.
 
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I'd pay to play for an invite to a power 5. From there, 3.4mil/year means nothing once conf $$$ starts rolling in. Have to look at the big picture.

...and on campus, you still have the FAA, airport and Southwest to deal with. I think the number is 30k unless you go closer to Flamingo. There is a reason site 42 is not even mentioned anymore.
 
This would be the most expensive stadium in NFL history and the public funding would be enough to build all but 3 stadiums alone.
Only 2 NFL stadiums cost more than $802 million with that being the Dalllas and New Jersey Stadiums.
Its a waste of money to use that level of tax dollars that has a 30 year shelf life with all the uncertainty that comes with a 30 year timeline.
http://www.therichest.com/sports/the-10-most-expensive-nfl-stadiums/
 
Comparing any other project to one in a city as unique as Vegas is a moot point in my opinion. Our revenue streams are vastly different than any other current NFL city.

This past year we had 45 million visitors. That number could go up with this new stadium and events coming to town.. We miss on this opportunity and this city will sit stagnate for a long time until another chance like this comes around (which is highly unlikely).
 
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People said the same about buying a house prior to the housing bubble bursting.
Its silly to build a stadium that cost most than building two high end NFL Stadium for one of the most poorly run NFL teams in the league.
When you walk in the stadium it will be a Raider branded stadium full of silver and black.
UNLV will pay their money for the privilege of playing there similiar to Gorman paying to use Sam Boyd before they built their own stadium. It won't feel like a UNLV stadium when you attend game and will be far oversized.
Its up to the legislators now but I see it as a misguided idea that is doomed to destroy the county's viability in the long term.
 
I agree a UNLV owned and operated stadium would be more ideal for the Rebels, but that's not the situation here. This opportunity is about creating not only an NFL presence in Las Vegas, but for many other mega events. Southern Nevada depends on tourism. It's the lifeblood of Las Vegas. This project propels Vegas ahead of other competitive destinations.
 
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I've read many articles on the economic impact for the Super Bowl host city and have read that it's anywhere from 500-700 million dollars have been generated for the local economy. If the stadium does go through, it's not a matter of if Vegas will host a future Super Bowl, it's when. As it stands now next to the host city, Las Vegas is the 2nd most popular destination for football fans to go go watch the game. I have to believe that if a Vegas was ever to host a Super Bowl, that's it would be one of the most financially lucrative and successful Super Bowls ever. Nobody can host a party like Vegas can.
 
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Assembly Committee amended SB1 to remove the $250k rent per game for UNLV.

UNLV will now be charged not more than the operating cost of the facility for all home games and 3 additional university events.
 
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121rowBseat3 said:
Assembly Committee amended SB1 to remove the $250k rent per game for UNLV.

UNLV will now be charged not more than the operating cost of the facility for all home games and 3 additional university events.
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So that comes out to how much $$ per game?
 
Mojo702 said:
So that comes out to how much $$ per game?
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well reasonable rent = cost + "fair" profit. they just took the stadium profit out of unlvs rent. much better deal.

I'm sure cost will vary year to year as utilities, labor costs etc. fluctuate.
 
It not only removed a fair profit, it also removed long term maintenance. We will need to wait and see, but I expect the number will be less than half. It should also be noted that the cost is based on how many employees are required for a game, so at first the cost will be lower with smaller crowds, and grow as the crowds grow.
 
willlevi said:
People said the same about buying a house prior to the housing bubble bursting.
Its silly to build a stadium that cost most than building two high end NFL Stadium for one of the most poorly run NFL teams in the league.
When you walk in the stadium it will be a Raider branded stadium full of silver and black.
UNLV will pay their money for the privilege of playing there similiar to Gorman paying to use Sam Boyd before they built their own stadium. It won't feel like a UNLV stadium when you attend game and will be far oversized.
Its up to the legislators now but I see it as a misguided idea that is doomed to destroy the county's viability in the long term.
Click to expand...

It's also silly to build multi gazillion dollar hotels instead of holiday inns but Vegas is a bit unique.
 
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