The Las Vegas Raiders continue to be one of the most affected sports entities in terms of economic impact on the ongoing COVID-19 pandemic.
Raiders have already announced that they will not receive enthusiasts at Allegiant Stadium, $1.860 million from The Coast of Vegas for their inaugural desert campaign. Now comes another major success.
The Raiders came close to reaching an agreement on a 10-year, $30 million advertising partnership with the Southern Nevada Water Authority before the season. Possibly that would no longer be the case.
“We don’t have any sponsorship agreements with the Raiders, and lately we have no plans to do so at this time,” Scott Huntley, senior director of utilities at the Southern Nevada Water Authority, told LVSportsBiz.com. “Both [the duration and the agreement] were problematic, especially now that we are gently cutting budgets in the face of the pandemic situation.”
The $3 million in annual revenue this would have brought the Raiders seems to be minor in the grand scheme of things. Though, it’s just the latest indication that owner Mark Davis and Co. are going to be dealing with wide-ranging ramifications due to the current economic downturn.
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Previously, he noted in the week that the Raiders are expected to lose $571 million in NFL earnings for the 2020 season alone due to the inability to receive enthusiasts in their new place in Las Vegas. These are just two recent examples of how much your computer has been affected.
Since Davis himself is worth only $500 million, any loss of profit after the structure of a stadium of approximately $2 billion will have an effect on its backline.