On the one side is the city of Oakland, whose current stadium proposal offers, in taxpayer money, zero dollars and zero cents. Las Vegas, on the other, has a taxpayer subsidy that makes zero sense.
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In fact, according to multiple reports, a panel meeting Thursday in Nevada pinpointed the taxpayers’ piece of the $1.4 billion stadium project at $750 million.
If accurate, that would make the proposed stadium project on the Strip the most expensive — by a long shot — in terms of public financing in NFL history, Bloomberg.com reported.
Lucas Oil Stadium in Indianapolis currently ranks No. 1 with $620 million in taxpayer money used to build the Colts’ home.
Despite the fact that Nevada plans to raise the money by taxing out-of-town visitors, the bottom line remains that Las Vegas Sands Inc. chief Sheldon Adelson — worth $23.6 billion — wants Las Vegas to subsidize the stadium by taxing hotel visitors.
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At least for public consumption, Gov. Brian Sandoval’s top economic adviser suggests trimming the public contribution to $500 million, putting $250 million more on the private sector.
You know the old saying: Half a billion here, a quarter billion there. Pretty soon you’re talking real money.
