Scribd Logo
Upload

Welcome to Scribd!

  • 257 views

    Oakland Raiders Las Vegas NFL Stadium Spreadsheet by Zennie Abraham

    Uploaded by

    Zennie Abraham
    The document is a spreadsheet analyzing the costs and funding sources for a proposed NFL stadium in Las Vegas to house the Oakland Raiders. It estimates total project costs of $2.9 billion, to be funded by $500 million from the team, $750 million in public funds, and $850 million from a Bank of America loan. However, it notes that $450 million in required offsite transportation infrastructure costs were not accounted for previously. With these added costs, the total net loss for the stadium project is estimated at $1.2 billion over 30 years.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Oakland Raiders Las Vegas NFL Stadium Spreadsheet by Zennie Abraham

    Uploaded by

    Zennie Abraham
    257 views11 pages
    The document is a spreadsheet analyzing the costs and funding sources for a proposed NFL stadium in Las Vegas to house the Oakland Raiders. It estimates total project costs of $2.9 billion, to be funded by $500 million from the team, $750 million in public funds, and $850 million from a Bank of America loan. However, it notes that $450 million in required offsite transportation infrastructure costs were not accounted for previously. With these added costs, the total net loss for the stadium project is estimated at $1.2 billion over 30 years.

    Original Description:

    Oakland Raiders Las Vegas NFL Stadium Spreadsheet by Zennie Abraham

    Original Title

    Oakland Raiders Las Vegas NFL Stadium Spreadsheet by Zennie Abraham

    Copyright

    © © All Rights Reserved

    Available Formats

    XLS, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document is a spreadsheet analyzing the costs and funding sources for a proposed NFL stadium in Las Vegas to house the Oakland Raiders. It estimates total project costs of $2.9 billion, to be funded by $500 million from the team, $750 million in public funds, and $850 million from a Bank of America loan. However, it notes that $450 million in required offsite transportation infrastructure costs were not accounted for previously. With these added costs, the total net loss for the stadium project is estimated at $1.2 billion over 30 years.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    257 views11 pages

    Oakland Raiders Las Vegas NFL Stadium Spreadsheet by Zennie Abraham

    Uploaded by

    Zennie Abraham
    The document is a spreadsheet analyzing the costs and funding sources for a proposed NFL stadium in Las Vegas to house the Oakland Raiders. It estimates total project costs of $2.9 billion, to be funded by $500 million from the team, $750 million in public funds, and $850 million from a Bank of America loan. However, it notes that $450 million in required offsite transportation infrastructure costs were not accounted for previously. With these added costs, the total net loss for the stadium project is estimated at $1.2 billion over 30 years.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    of 11

    Sheet1

    Oakland Raiders Las Vegas NFLStadium Proposal Spreadsheet Zennie Abraham


    With Bank Of America Loan / Offsite Transit Infrastructure Cost At $450 million
    No Additional Debt Other than SNTIC Projection
    March 19th 2017

    Total Project Costs (Note2)


    Construction Costs $1,325,000,000.00
    Land, Infrastructure, On-Site Costs $375,000,000.00
    Offsite Transportation Infrastructure Costs Per SB1 / NDOT (Note 3) $450,000,000.00
    Offsite Non-Transportation Infrastructure Costs Per Clark County $195,000,000.00
    NFL Relocation Fee $370,000,000.00
    Practice Facility $100,000,000.00
    Contingency $100,000,000.00
    Total Project Cost $2,915,000,000.00

    Funding Sources (Note 2)


    Team Investment $500,000,000.00
    Public Investment (LVSA / Clark County Bond Issue) $750,000,000.00
    Private Investment (B of A Commercial Loan 30 yr) $850,000,000.00
    Total Funding Sources $2,100,000,000.00

    Total Net NFL Stadium Project Revenue -$815,000,000.00

    SNTIC Model 30 Year Est


    Est. Stadium Revenues (From SNTIC Docs Note 4)
    Total Annual Event Revenue $934,323,450.00
    Total Annual Non-Event Revenue $309,632,820.00
    Total Stadium Revenue $1,243,956,270.00

    Est.Stadium Operating Expenses (From SNTIC Docs Note 4) $646,119,390.00

    Stadium Net Operating Income (From SNTIC Docs Note 4) $597,836,880.00

    Debt Service And Capital


    Debt Service (From SNTIC Model times 30 yrs) $0.00
    Bank Of America Dev Loan Debt (Loan + LIBOR) $885,190,000.00
    Capital Expenditure $75,000,000.00
    Total Debt Service And Capital $960,190,000.00

    Free Stadium Operating Cash Flow -$362,353,120.00

    Total Project Operating Cash Flow (TPOCF) -$1,177,353,120.00

    Return on Investment -40.39%

    Note 1: Two Problems: 1) NDOT / RTC Transportation Infrastructure Off-Site Not Accounted For, 2) New Bank Of America De
    $650 million plus LIBOR of .414 basis points (not including fees) added to SNTIC MODEL annual debt service of $12 million t

    Page 1
    Sheet1
    Note 2: From SNTIC Stadium Model Presentation FINAL doc page 4 of 32 and taking annual estmates and multipliying by 30
    Note 3: Offsite Transportation Cost of $450 million based on Southern Nevada Tourism Infrastructure Act (http://www.lvstadium
    Note 4: SNTIC Stadium Model Presentation FINAL doc page 18 of 32 and taking annual estmates and multipliying by 30 year
    Note 5: NDOT Las Vegas NFL Stadium Sites Transportation Assessment Report is here: https://www.nevadadot.com/uploade
    Note 6: Overalll, this spreadsheet shows the impact of Las Vegas Sands / Sheldon Adelson's depature from the Raiders NFL

    Page 2
    Sheet1

    SNTIC Model Annual Est

    $31,144,115.00
    $10,321,094.00
    $41,465,209.00

    $21,537,313.00

    $19,927,896.00

    $12,000,000.00
    $32,500,000.00
    $2,500,000.00
    $47,000,000.00

    -$27,072,104.00

    or, 2) New Bank Of America Debt Service of


    nual debt service of $12 million times 30 year lease term creates two negative results: -$450 million for project and -$514 million for stadium

    Page 3
    Sheet1
    estmates and multipliying by 30 year lease term: http://sntic.org/meeting/10/stadium%20/aguero/SNTIC%20Stadium%20Model%20Present

    ates and multipliying by 30 year lease term: http://sntic.org/meeting/10/stadium%20/aguero/SNTIC%20Stadium%20Model%20Presentation


    ://www.nevadadot.com/uploadedFiles/NDOT/Projects_and_Programs/Programs_and_Studies/Las%20Vegas%20Stadium%20Traffic%20A
    depature from the Raiders NFL Stadium Project. Mr. Adelson took away what was a $650 million angel investment, and Las Vegas Sands p

    Page 4
    Sheet1

    project and -$514 million for stadium operations, following SNTIC format.

    Page 5
    Sheet1
    C%20Stadium%20Model%20Presentation%20FINAL.pdf

    0Stadium%20Model%20Presentation%20FINAL.pdf
    Vegas%20Stadium%20Traffic%20Assessment.pdf
    l investment, and Las Vegas Sands pledged to pay for any off-site costs and cost overruns, which would have taken care of the NDOT cost

    Page 6
    Sheet1

    uld have taken care of the NDOT cost now Adelson and his company are gone. Additionally, the provision that ties the developer to paym

    Page 7
    Sheet1

    ovision that ties the developer to payment of some level of offsite transportation infrastructure and binding that cost to whatever NDOT estim

    Page 8
    Sheet1

    ding that cost to whatever NDOT estimates was left in the Southern Nevada Tourism Infrastructure Act. This, even as the provision for a tax

    Page 9
    Sheet1

    . This, even as the provision for a tax increment revenue district was removed, and Las Vegas Sands, which planned to pay for that cost, le

    Page 10
    Sheet1

    , which planned to pay for that cost, left the project.

    Page 11

    You might also like