Las Vegas Stadium Authority officials scrambled Friday to explain the significance of a proposed lease agreement in which the Raiders would pay a $1 annual rent fee as part of their relocation to southern Nevada.
The $1 rent was part of a 107-page document submitted to the board Thursday during a meeting in which Raiders president Marc Badain and executive vice president Dan Ventrelle gave an update on relocation plans.
Board liaison Jeremy Aguero said Friday the proposed $1 annual rent was irrelevant.
“The reality is the board can’t receive any of that money because it would jeopardize the tax status of the bonds that we would be issuing,” he said.