Nevada panel approves $750M public funding plan for Raiders stadium in Vegas

The Southern Nevada Tourism Infrastructure Committee (SNTIC) voted unanimously Thursday to approve a $750-million public funding plan for a stadium development that could bring the Oakland Raiders to Las Vegas.

While there are still a number of steps to be taken before an agreement is in place to have the Raiders relocate, the significant public contribution was long thought to be the main hurdle in that process.

Thursday's vote serves as an official recommendation from the SNTIC to Nevada Governor Brian Sandoval.

The approved plan includes neither a 39 percent cap on the $750 million in public contributions nor any sort of required profit sharing from the developers, according to Megan Messerly of The Las Vegas Sun. Both key points had been up for debate prior to Thursday.

Reports surfaced earlier this offseason indicating that owner Mark Davis would commit to relocation if the stadium financing plan, added to the expected $650 million contribution from private investors and $500 million from the team, were approved.

Renderings for a potential stadium were released in August, and the Raiders have also filed for a number of Las Vegas trademarks.