Post by Logan on Feb 4, 2016 4:40:12 GMT -6
At $780 million, potential subsidy for Las Vegas stadium at front of the pack
Early figures show Las Vegas Sands's ask for tourism-based taxes for its joint project with UNLV would be among the biggest ever for an NFL-ready stadium.The size of Las Vegas Sands Corp.'s stadium subsidy ask — 65 percent of a $1.2 billion proposal — bucks current trends in the funding of football stadium construction, sports economists say.
Private developers and teams are paying more toward the cost of NFL stadiums than ever before, based on private/public cost splits for recent projects involving the Minnesota Vikings, Atlanta Falcons, San Francisco 49ers and the recently relocated Los Angeles Rams.
Early figures show Las Vegas Sands hopes to land $780 million in tourism-based taxes to fund the bulk of its joint project with UNLV. If that number holds, the stadium's public subsidy would be among the biggest ever for an NFL-ready stadium.
By comparison, 53 percent of the new Vikings stadium is privately financed; the Falcons' new stadium is 84 percent private; the 49ers' stadium in Santa Clara, Calif., was 88 percent private; and the planned Inglewood facility for the Rams will see no public subsidy at all.
Read more: www.reviewjournal.com/news/las-vegas/780-million-potential-subsidy-las-vegas-stadium-front-the-pack
Early figures show Las Vegas Sands's ask for tourism-based taxes for its joint project with UNLV would be among the biggest ever for an NFL-ready stadium.The size of Las Vegas Sands Corp.'s stadium subsidy ask — 65 percent of a $1.2 billion proposal — bucks current trends in the funding of football stadium construction, sports economists say.
Private developers and teams are paying more toward the cost of NFL stadiums than ever before, based on private/public cost splits for recent projects involving the Minnesota Vikings, Atlanta Falcons, San Francisco 49ers and the recently relocated Los Angeles Rams.
Early figures show Las Vegas Sands hopes to land $780 million in tourism-based taxes to fund the bulk of its joint project with UNLV. If that number holds, the stadium's public subsidy would be among the biggest ever for an NFL-ready stadium.
By comparison, 53 percent of the new Vikings stadium is privately financed; the Falcons' new stadium is 84 percent private; the 49ers' stadium in Santa Clara, Calif., was 88 percent private; and the planned Inglewood facility for the Rams will see no public subsidy at all.
Read more: www.reviewjournal.com/news/las-vegas/780-million-potential-subsidy-las-vegas-stadium-front-the-pack