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Raiders find new financing for Las Vegas stadium

FILE - In this April 28, 2016, file photo, Oakland Raiders owner Mark Davis, center, meets with Raiders fans after speaking at a meeting of the Southern Nevada Tourism Infrastructure Committee in Las Vegas. The Raiders have filed paperwork to move to Las Vegas. Clark County Commission Chairman Steve Sisolak told The Associated Press on Thursday, Jan. 19, 2017, that he spoke with the Raiders. (AP Photo/John Locher, File) ORG XMIT: NY169 (John Locher / AP)
Josh Dubow

APNewsNow. Will be updated

ALAMEDA, Calif.– The Oakland Raiders have told the NFL they have found a new partner to finance their proposed stadium in Las Vegas: Bank of America.

A person familiar with the Raiders’ plans said Monday the team presented the new proposal with financing backed by Bank of America to the NFL’s stadium and finance committees. The person spoke on condition of anonymity because the plan was not made public.

The Raiders had been seeking a new partner for the proposed $1.9 billion, 65,000-seat domed stadium after casino magnate Sheldon Adelson withdrew a $650 million pledge last month.

The state of Nevada has committed $750 million to the project, while the Raiders and NFL would pay the remaining $500 million if three-quarters of the league’s owners approve a move. A vote could come at the owners meetings later this month.