Raiders' future is once again up in the air on Las Vegas stadium deal

The Oakland Raiders potential relocation to Las Vegas hit a major snag on Monday night when the billionaire casino mogul Sheldon Adelson backed out of his agreement to help finance the stadium.

Adelson, the CEO of Las Vegas Sands Corporation, had agreed to contribute $650 million to the $1.9 billion stadium in Las Vegas, set to be shared by the Raiders and the UNLV football team.

The Raiders, with the help of the NFL, were set to pay about $500 million, and the state of Nevada would add the remaining $750 million.

But even after the terms of the deal were set, Adelson and Raiders owner Mark Davis reportedly disagreed over the specific arrangements. On Monday, Adelson announced he had walked away entirely.

So, regrettably, we will no longer be involved in any facet of the stadium discussion."

The Raiders have claimed to have a backup investor ready in case Adelson walked. They told the Las Vegas Stadium authority earlier this month that Goldman Sachs would finance the stadium regardless of Adelson's involvement.

That said, Davis will still need 23 other NFL owners to vote in favor of his relocation bid to successfully move his team. No longer having Adelson's power — or checkbook — likely won't help his cause.

As the Las Vegas situation grows more precarious, a group led by former NFL player Ronnie Lott has continued to work with Oakland city officials to finance a new stadium to keep the team in the Bay Area.

Here's Adelson's full statement:

"The Oakland Raiders came before the Las Vegas Stadium Authority last week with a proposed lease agreement that has sent shockwaves through our community.

"It was certainly shocking to the Adelson family. We were not only excluded from the proposed agreement; we weren't even aware of its existence.

"In addition to being discouraged by the surprise submission, I was deeply disappointed for the disregard the Raiders showed our community partners, particularly UNLV, through the proposed agreement.

"It's clear the Raiders have decided their path for moving to Las Vegas does not include the Adelson family. So, regrettably, we will no longer be involved in any facet of the stadium discussion.

"While this is not the result my family was hoping for, I am very appreciative of the countless people who have given considerable time and energy to this process, especially so many of our elected officials who have made this a top priority for Southern Nevada."

Raiders' future is once again up in the air on Las Vegas stadium deal

The Oakland Raiders potential relocation to Las Vegas hit a major snag on Monday night when the billionaire casino mogul Sheldon Adelson backed out of his agreement to help finance the stadium.

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