Though Las Vegas may yield a bigger market, it’ll come at a price for the (for now) Oakland Raiders.
Per ESPN.com’s Darren Rovell, the Oakland Raiders will have to cough up $378 million over 10 years, beginning in the year the franchise makes the move to Las Vegas. Meanwhile, the Los Angeles Chargers and the Los Angeles Rams, who relocated from San Diego and St. Louis respectively, will have to pay $645 million over a period of 10 years from 2019 to 2028.
The amount due to the league is derived from the projected increase in each franchise’s value due to the new market. All the money paid out by the three franchises will be dispersed back evenly amongst the NFL’s other 29 teams at an amount of about $55.2 million each.
A 31-1 vote by the league’s owners approved the Raiders relocation to Vegas back in March, however, it could still be some time before we see the silver and black in Sin City. Though the franchise had hoped to make the move as early as 2019, a report by the Associated Press in May noted a lease issue could delay the relocation until 2021.