Raiders stadium in Las Vegas is now just one step away from approval

A Nevada oversight committee has approved a $750 million public funding plan for a Las Vegas Raiders stadium, according to CBS News' Mark Albert.

Clark County Commission chair Steve Sisolak confirmed to CBS News via text message that the Southern Nevada Tourism Infrastructure Committee voted "unanimously" Thursday to approve $750 million in public money to bring the Oakland Raiders to Vegas.

But this doesn't mean the team that currently resides in Oakland is on the move -- at least not yet. The plan, while a major victory for the committee, still needs approval from the Governor and legislature.

The stadium venue's estimated cost is $1.9 billion, and state lawmakers would have to approve the $1.4 billion stadium's public funding package.

Proponents of the plan, which include the Las Vegas Sands, want to increase the hotel tax to raise the $750 million that was approved Thursday, while the Raiders and the Sands would cover $1.25 billion. Of that total, the Raiders would chip in $500 million.

Ongoing expenses would be paid for by "about $35 million per year in taxes generated" on stadium grounds, Sisolak told CBS News, adding: "This is a great day for Las Vegas for UNLV and for the Raiders."

Meanwhile, the legislature has not yet set a date for the vote on the stadium. Proponents also want state lawmakers to meet and greenlight the deal as soon as possible. The next step would be to pitch the deal to NFL owners, 75 percent of whom must approve any team relocation. The owners are expected to next meet in January.

In January 2016, NFL commissioner Roger Goodell said that if the Raiders want to move to Las Vegas and the owners are willing to approve it, then he likely wouldn't get in the way.

"Ultimately, it's the ownership's decision," Goodell said at the time, during an appearance on the "Rich Eisen Show." "It requires 24 of the 32 owners to approve any relocation to any market."

And just last month, the Raiders released renderings of the $1.9 billion stadium. Here's what CBSSports.com's John Breech wrote at the time: "During the presentation, the Raiders -- and their partner, the Sands Casino Group -- made one thing absolutely clear: If the state of Nevada is willing to commit $750 million in public funding towards a new NFL stadium, then the stadium will get built and the Raiders will move to Vegas."

And now we're one step closer to that reality.

CBS Sports Writer

Ryan Wilson has been an NFL writer for CBS Sports since June 2011, and he's covered five Super Bowls in that time. Ryan previously worked at AOL's FanHouse from start to finish, and Football Outsiders... Full Bio

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