Developers offering the Raiders $50 million to...
Developers offering the Raiders $50 million to move to Sacramento want public financing to pay for most of the deal, it was reported by the Sacramento Bee.
The Sacramento Sports Assn. is asking the city and county of Sacramento to cover $40 million of the costs, the newspaper reported. The Sports Assn. would pay the other $10 million.
The group has proposed a $1-per-ticket tax on events at both Arco Arena and a new football and baseball stadium to raise an estimated $3 million a year. But the city and county would have to raise another $1.7 million annually, for a total of $4.7 million a year, for 20 years to pay the $40 million debt.
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