Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson has pulled out of his role in the relocation of the Oakland Raiders to Sin City, according to the Las Vegas Journal-Review.
Adelson, who was to contribute $650 million toward the construction of a $1.9 billion stadium in Las Vegas, released a statement Monday night saying his family “will no longer be involved in any facet of the stadium discussion.”
However, the Raiders have told NFL officials that they have commitments from Goldman Sachs to take Adelson’s place in the proposed stadium project. The Raiders will commit $500 million and Clark County will contribute $750 million in bonds, funded by an increase in hotel room taxes.