Stadium: what does this tweet mean?
- Thread starter IndianaRebel
- Start date
DIdn't Adelson state of his own money and why he chose to back $650MM plus any overages? If that is the case, does it even matter? Sand also agreed to the number on top of his, the 150 with Majestic.
Sands Corp said no to allowing Adelson to pull the money out of Sands. He is pulling the money from his personal funds.
Which is a better deal for him anyway from a tax standpoint. I get the feeling Sands did exactly what he wanted them to do.
What he should do is 'donate' it to UNLV for explicit use on the property and then write off the full amount. He will still make $ off of the $150MM stake in the Stadium via Sands Corp and Majestic. And I am pretty sure upon contracts, I can see Majestic handing some event planning over to AEG if you want my true feeling behind this.
I little birdie tells me despite popular believe and perceived relationships Sands is in bed with AEG.
Edit: From event and attraction perspective. AEG is larger than MGM, by a monumental scale.
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There is no advantage to a huge donations of money to UNLV for Sheldon. When you donate the money all you get is at best a write off of 100% of the money if you make a direct donation from a company. If you keep the money you would only pay whatever your tax rate is and keep the remainder compared to losing 100% of the money.
Use the money from his COMDEX sale in 1995! =) So, there is no 'donation' perk to a state run university? HOnest question, how does that work? Ie being a donor?
Edit: Nevermind, answered my own question re-reading your post.
Edit: Nevermind, answered my own question re-reading your post.
Being the owner of a company, they do donations for goodwill and to make them look better with the public as a sales tool, or because it is something that they believe in, but you don't get any financial reward from a donation. If you donate $1,000 to a charity, you just reduce the income of your company by $1,000. So what you have done is just reduced how much money you make by the amount you donate.
The only way some companies do use it to their financial benefit is when they donate things like old computers, furniture, etc.. to get tax right offs on things that they would have just written off. I have worked for a companies that received a much bigger tax break than the actual value of what they donated.
The only way some companies do use it to their financial benefit is when they donate things like old computers, furniture, etc.. to get tax right offs on things that they would have just written off. I have worked for a companies that received a much bigger tax break than the actual value of what they donated.
Does this sounds like if the raiders don't end up here the city will give UNLV the money for a stadium if they can come up with 200 mil?
From the new sntic proposal:
SECTION 26 transfers collected tax dollars, in the event a NFL franchise does not commit to locate or relocate to the stadium district or other conditions are not met, to a university within the stadium district where that university obtains a commitment of at least $200,000,000 in funding for a collegiate stadium on its campus.
From the new sntic proposal:
SECTION 26 transfers collected tax dollars, in the event a NFL franchise does not commit to locate or relocate to the stadium district or other conditions are not met, to a university within the stadium district where that university obtains a commitment of at least $200,000,000 in funding for a collegiate stadium on its campus.
If that's the case, I'd prefer the Raiders deal fall thru and UNLV get its own on campus stadium
From a purely monetary and business standpoint, it's better for him to put the money into a capital trust from his own pocket rather than pull any money out of Sands Corp. Then put the money from the trust into the stadium company as a capital investment to be sold a couple of years later. The money he makes, and it would be huge, would then be subject only to the capital gains tax rate.
If he did donate the money to UNLV, then he would get a charitable deduction. That's a lot better than giving Newt Gingrich a Billion Dollars because that was NOT a tax deduction.
I'm still wondering about the soil survey. Both parcels are close enough to the Luxor & Excalibur which have been sinking for years and have a sophisticated hydraulics system leveling their buildings. Maybe the land is too unstable to support the stadium.. I have heard that is why it is a golf course rather than home to a casino. Noone has brought this up. We don't needs windows popping out like what happened with the Luxor.
I was under the impression that this would be the largest hurdle in the process. I have to believe that the ease with which this passed means the rest is rubber stamp territory and it's a done deal.
I worked on the correction of both of those problems. FYI - the sinking stopped when the helical piers were installed at the Mandalay Bay in conjunction with the injection grouting & they learned how to properly build in the area when they added the new convention center.
As long as they go down deep enough to take out the band of expansive soils in the footing areas of the stadium, it should be just fine.
There is still sinking going on at the Luxor to this day. My brother was an executive with them.
That's why I only mentioned the Mandalay Bay. The helical piers and injection grouting were different fixes for the Mandalay Bay than what was done as remedial measures at the Luxur.
