Originally Posted by
RAIDERMAN818
The Raiders have sold their Henderson headquarters for $191 million and leased it back, a rapid sale of a project that is still being built by a team that has not yet played a game in Las Vegas.
Chicago-based Mesirow Financial purchased the under-construction football facility across from Henderson Executive Airport and leased it back to the NFL team for 29 years, with seven 10-year extension options, filings with the Clark County recorder’s office show.
The sale closed Friday. Public records obtained by the Review-Journal do not show the Raiders’ annual rent.
The transaction shows how the NFL team has turned a once-discounted plot of city-owned property into lucrative real estate. It also comes on the heels of other leasebacks involving high-profile Las Vegas buildings.
The Raiders bought 55.6 acres of land from the city of Henderson in 2018 for a little over $6 million, half the appraised value, and sold its unfinished facility there for more than 30 times that.
Public records show the Raiders entered into a ground lease at the site and subleased it right back, indicating the team still owns, but is now renting, the land underneath the complex.
Raiders President Marc Badain declined to comment on the transaction.
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Bowl Cut ain't as dumb as he looks.