About an hour after billionaire casino magnate Sheldon Adelson announced that he was withdrawing his investment in the Raiders' proposed stadium in Las Vegas, the team issued a statement:
"The Raiders deeply appreciate the efforts of the Adelson family to bring the Raiders to Las Vegas. We know this project could not have advanced to this point without them. The Raiders remain steadfast in honoring Mark Davis’ commitment to Governor Sandoval and the State of Nevada to pursue relocation to Las Vegas," the team said.
Adelson had committed to invest $650 million of his family's personal wealth in the project.
The filed for relocation to Las Vegas earlier this month. The team has told the NFL that it has the ability to continue without the involvement of Adelson.
The public has committed $750 million to the project, while the Raiders have pledged $500 million. Goldman Sachs is also involved in the financing of the proposed stadium.
“It’s clear the Raiders have decided their path for moving to Las Vegas does not include the Adelson family,” Adelson said Monday in a statement, via the Las Vegas Review Journal. “So, regrettably, we will no longer be involved in any facet of the stadium discussion.”