Raiders Sell Headquarters and Practice Facility for 30 Times What They Paid for It

Raiders Fans in Stadium, NFL Raiders Game
The Raiders Henderson, Nev. Headquarters and practice facility, which is still in the process of being completed, was purchased for $6 million two years ago. They purchased the 55.6 acres of land on a sweet deal, at a cut rate of half of what the property was worth at the time.

Fast forward two years, and the Raiders are making out with an even bigger deal. They just sold their unfinished facility for 30 times the amount they originally paid for it, for $191 million, turning an astonishing $185 million profit.

Chicago-based company, Mesirow Financial, reportedly purchased the headquarters last Friday. The team signed a 29-year contract to lease the space, with the possibility of seven 10-year extensions. With the extensions available, it could potentially become a 99-year ground lease agreement.

As of now, it’s unknown the amount of rent the Raiders will pay Mesirow Financial for leasing the space.

Business is booming in the valley for the Las Vegas Raiders, who have the new $2 billion Allegiant Stadium to call home, and this is all before even playing their first game. On the other hand, however, some Nevadans are arguing that it’s at the expense of Las Vegas residents, saying that taxpayers are the ones officially losing out in the Raiders latest deal.

Can the Raiders Boost an Economy Centered Around Tourism?

For a long time, the Las Vegas economy was purely built on gambling and tourism. There’s been a recent shift in more family-focused tourism however, and more surprisingly, tourism centered around professional sports.

Prior to the Raiders, the unalloyed success of the Vegas Golden Knights stood on its own as a magnet for sports tourism, as well as its heavy hard in building a sizable revenue from a loyal, local fan base.

But, with the popularity of the NFL, the Raiders are gearing up to be the city’s biggest catch yet.

Local businesses, like Maverick Helicopters, say the team will be great for bringing in new out-of-town business.

“That’s where the N.F.L. is great for us because it’s going to bring Packers fans, Patriots fans, Steelers fans,” said Bryan Kroten, the vice president of marketing of Maverick Helicopters. “Whatever it takes to get new people to Vegas.”

The M Resorts, which lie adjacent to the Raiders headquarter and practice facility, are reporting increased bookings since becoming the team’s official hotel. The jump in business is only expected to grow once the team starts this season.

For home games, the Raiders will rent out a block of around 300 rooms at M Resort for the nights before they play.

The resort will also be launching a Raiders Bar & Grill and include a team-themed retail shop on-site.

About the Raiders Headquarters

The Raiders reached an agreement with Intermountain Healthcare in December that allowed them to become the naming rights partner for the Performance Center and Corporate Headquarters. The facility is three-stories high, includes 135,000 square footage of office space, and features one-and-a-half indoor football fields.

The partnership is expected to generate around 250 jobs in order to run team operations, according to the press release.

The Intermountain Healthcare Performance Center and Raiders Headquarters is expected to open its doors this summer.

Henderson Will Host Community Meeting on Proposed AHL Arena

People on Hockey Arena Playing Hockey
Next month, the city of Henderson plans to host a community meeting to discuss residents’ concerns and questions regarding the proposal of a minor league hockey arena in the city.

Plans for a 6,000-seat arena were announced earlier this month by city officials. They advised that the current Henderson Pavilion will serve as the building site for the new arena. The Henderson Pavilion, located on 200 S. Green Valley Pkwy, is the largest open-air amphitheater in Nevada and has been used primarily for music performances.

The Pavilion is known for its 40,000-square-foot canopy style roof, which has been severely damaged in weather-related incidents in recent years, naming wind damage. Due to the damage, city officials already began evaluating how to repair and modernize the facility to optimize even greater entertainment opportunities, while preventing further damage to the useable infrastructure.

The City had talks of turning the Pavilion into an enclosed venue, so that events could be held yearlong and not be restricted to months with milder temperatures. However, the announcement of the Vegas Golden Knight’s acquisition of an American Hockey League (AHL) presented an exciting new opportunity during the Pavilion’s phase of reimaging its future use.

According to the City of Henderson website:

“While the City was envisioning the future of the Pavilion as an enclosed venue, the February 6, 2020 announcement by the Vegas Golden Knights (VGK) of their acquisition of an American Hockey League (AHL) team and intention to relocate it to southern Nevada made it clear that there was an opportunity to build upon the successful public-private partnership the City had established with the VGK.

This expanded partnership presents an exciting new opportunity to enhance the current Henderson Pavilion site by creating a 6000-seat family-friendly entertainment venue where the City can host concerts, cultural arts performances, high school and college graduations, youth and club hockey activities, meetings, and other community events in addition to hosting Henderson’s hometown professional hockey team.”

Community Meeting Details

Henderson residents are being encouraged to send over any questions and comments they want addressed to the city through an online submission form.

Community Meeting Details:

Date: Monday, March 9

Start Time: 4 p.m.

Location: Sun City MacDonald Ranch Clubhouse

2020 W Horizon Ridge Pkwy, Henderson, NV 89012

Additional presentations are also set to take place at 5 and 6 p.m.

Vegas New Professional Hockey Team

The Golden Knights announced in the beginning of this month their purchase of the San Antonio Rampage, an AHL affiliate of the St. Louis Blues, and revealed their plans to relocate the team to the Henderson/Las Vegas area.

Pending approval from the AHL Board of Governors, the San Antonio Rampage will begin their first season at the Orleans Arena before moving to their new home arena.

What is the American Hockey League?

Outside of the National Hockey League, the American Hockey League is the top-level of professional hockey in the US.

One of the big drawing points to having an AHL franchise in the Vegas valley is the chance for fans to see Golden Knights’ top prospects up close.

Prior to the San Antonio Rampage, Las Vegas had two other minor league hockey teams: the Las Vegas Thunder, which played six seasons from 1993 to 1999, and the Las Vegas Wranglers, who played at the Orleans Arena between 2003 o 2014.

Vegas Golden Knights Announce Purchase of AHL Franchise

Golden Knights Logo and AHL Logo
In an official announcement made on Thursday, the Las Vegas Golden Knights have purchased an American Hockey League (AHL) franchise membership from Spurs Sports & Entertainment. Since Spurs Sports & Entertainment currently operates the San Antonio Rampage in San Antonio, TX, the Knights have applied to relocate the franchise in its entirety to the Henderson/Las Vegas area.

“Since our initial season ticket drive began five years ago in February 2015, we have witnessed first-hand the incredible passion and enthusiasm our community has for hockey,” said Vegas Golden Knights Chairman and CEO Bill Foley. By every relevant metric, the growth of the game here the last few years at all levels has been remarkable. We could not be more proud to bring a second professional hockey club to the Valley to accelerate this growth even further.”

George McPhee, Vegas Golden Knights President of Hockey Operations, says having an AHL located in our market has been a long-time goal of the Vegas Golden Knights since their inception.

Dependent upon the AHL Board of Governors approval, the Rampage will finish out their 2019-20 regular season and playoffs in San Antonio and relocate to the Henderson/Las Vegas area to kick off the 2020-21 AHL season.

Purchase Will Help Streamline Hockey Operations in Vegas

According to McPhee, 87% of all NHL players were graduates of the AHL. This will effectively help enable local Las Vegas fans to track Golden Knights prospects as they progress through the system. Prospects’ advancement to the AHL, which signals NHL playing potential, will be easier to follow with the franchise moving to Las Vegas.

“This move will effectively centralize our hockey operations and streamline our processes in terms of player development, scouting, transfers and staffing.” says McPhee.

“By bringing an AHL franchise to the desert, our fans will have more opportunities to experience the sport they love in the place we call home,” said Vegas Golden Knights President Kerry Bubolz. “With our new community ice center under construction at Lifeguard Arena in Henderson, the club will have a world class practice facility as their team headquarters. We would like to especially thank our colleagues at Spurs Sports & Entertainment and the American Hockey League Board of Governors for their consideration and effort in continuing this process.”

Additional Details to Be Confirmed at Later Date

Pending purchase and relocation approval from the AHL Board of Governors, additional details will be confirmed at a later date, including team name, logo, ticket pricing, home arena etc.

Currently, Golden Knights Fans can place a $50 per seat season ticket deposit at VGK Members who put down a deposit will be granted priority access once seat selections start. Note: Season ticket deposits are refundable.

About the AHL

AHL Logo
The American Hockey League (AHL) is a US and Canadian based professional ice hockey league that serves as the primary developmental league for the National Hockey League (NHL). It’s also considered the “farm league” of the NFL. The minor professional hockey league has been in operation since 1936.

Currently, the oldest team in the AHL are Pennsylvania’s Hershey Bears, who first started playing in 1938.

The AHL major championship involves the two winning teams from their conferences that play for a chance to win the Calder Cup.

About Spurs Sports & Entertainment

Spurs Sports & Entertainment is an American sports and entertainment organization that’s based in San Antonio, Texas. Several sporting franchises are owned and operated by the organization, including the 5-time National Basketball Association (NBA) champions, the San Antonio Spurs, the AHL’s San Antonio Rampage, NBA G League’s Austin Spurs, and the USL Championship club San Antonio FC.

The organization also operates Bexar County’s multi-purpose indoor arena, the AT&T Center.