Majestic Realty announced Thursday evening that they will no longer be participating as part of the development team for the proposed $1.9 billion Las Vegas stadium that would house the NFL’s Raiders. That announcement included some interesting news for UNLV.
Majestic’s executive vice president, Craig Cavileer, confirmed that the Southern Nevada stadium project will be the vision of Sands Chairman and CEO Sheldon Adelson.
“The project has evolved and it’s no longer a Sands and Majestic deal,” Cavileer said. “It’s really personalized and it’s something that Sheldon wants to do as a legacy for his family, and we’re respectful of that, and we’re looking forward to seeing the project move forward.”
The Las Vegas stadium would also likely become the new home of the UNLV Rebels football team. If the Raiders move to Nevada is something that does not come to fruition, a new UNLV stadium could still happen. While Majestic has no equity in the NFL stadium plan they have been a part of UNLV Now, an on campus stadium proposal project, since 2011.
Richard Velotta of the Las Vegas Review-Journal writes that Cavileer has said he would still be interested in helping UNLV with a new stadium project if the Raiders do not move to Las Vegas. Under this proposal, UNLV would have two years to raise $200 million for the smaller facility.
The Rebels have played at Sam Boyd Stadium since 1971.