Sheldon Adelson no longer part of Raiders’ Las Vegas stadium plan

Casino mogul Sheldon Adelson removed himself from a plan to build a $1.9 billion domed stadium that would become the Raiders’ home in Las Vegas, after he had pledged $650 million to the project.

The Raiders remain steadfast in honoring Mark Davis’ commitment to Governor Sandoval and the State of Nevada to pursue relocation to Las Vegas.

At a Stadium Authority meeting last week, Chairman Steve Hill said Goldman Sachs has agreed to provide financing for the Raiders.

Adelson said the lease proposal, which called for terms including a $1 yearly rent, control over field scheduling and exclusive naming rights for the team, sent “shock waves” through the community and was a surprise to his family.

The Raiders filed paperwork to move to Las Vegas this month, a proposal that needs to be ratified by 24 of the NFL’s 32 owners, after failing to come to terms on a deal for a new stadium in Oakland.

There had been speculation that Adelson would attempt to purchase a piece of the Raiders, but Rooney cited rules and policies that would prohibit a casino owner from owning a franchise.