The new Oakland Raiders stadium will cost an additional $40 million than the previously estimated $1.8 billion, according to recent media reports.
“This is good news,” Las Vegas Stadium Co. Chief Operating Officer Don Webb was quoted as saying by the Las Vegas Review-Journal. “Normally a person in my position reporting to a public body such as yours has the unenviable task of telling you why the project is over budget because costs weren’t properly accounted for… that’s not what this is about. This is good news, not bad news.”
The Review-Journal reported that the surplus fund will cover among other things the addition of 20 suites. The 20 suites are aimed at sweetening the effort to host Super Bowls at the new venue.
“The more suites you have, the better opportunity you have to bid for the Super Bowl,” Raiders president Mark Badain told the Review-Journal. “So we wanted to be responsive to the NFL, as we’re working on a bid for the 2025 Super Bowl.”
The stadium is now expected to have 128 total suites. The Raiders will pay the full $40 million in overages, which also will cover the creation of a 26,000-square-foot field-level club area (which can hold up to 800 fans) and various upgrades to the appearance and functionality of the stadium.
More details about the project will be revealed at the forthcoming Coliseum Summit US, Las Vegas, Nevada, US on August 28-29, 2019.
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