Raiders Earn $549M in PSL Sales at Allegiant Stadium Ahead of Las Vegas Debut

Mike Chiari@mikechiariFeatured ColumnistMay 23, 2020

LAS VEGAS, NEVADA - MAY 21:  An aerial view shows construction continuing at Allegiant Stadium, the USD 2 billion, glass-domed home of the Las Vegas Raiders on May 21, 2020 in Las Vegas, Nevada. The Raiders are scheduled to play their first preseason game at the 65,000-seat facility on August 27 against the Arizona Cardinals.  (Photo by Ethan Miller/Getty Images)
Ethan Miller/Getty Images

Raiders fans are excited about the team's upcoming Las Vegas debut, and they have proved it in the form of personal seat license payments.

According to Mick Akers of the Las Vegas Review-Journal, the Raiders have generated $549 million in PSL money, which is more than double the original projection of $250 million. All of the PSL money is being put back into the construction cost of Allegiant Stadium, which is scheduled to open for the 2020 season.

The Raiders spent the past 25 years in Oakland, but when they were unable to reach an agreement to get a new stadium built, owner Mark Davis made the decision to move to Vegas. Sin City now has its second major professional sports team, as the Vegas Golden Knights joined the NHL two seasons ago.

Akers noted that the influx of cash due to PSL's will allow the Raiders to add more features to the stadium, including more suites, a 26,000-square-foot field-level club, upgraded fixtures and enhanced internet connection.

The PSL fee is a one-time-only payment that locks a person into their seat and gives them first rights to buy a ticket for that seat at any Raiders home game. Holders of the PSL must purchase tickets each season to maintain it.

Of those who bought a PSL, 60 percent are from Nevada and 40 percent are from outside the state. Per Akers, roughly 7,000 fans who had Raiders season tickets in Oakland purchased a PSL for Allegiant Stadium in Las Vegas.

It is unclear how the PSL system may be impacted in 2020 by the coronavirus pandemic. It is possible that no fans will be permitted to attend games for some or all of the season. The NFL could also open up only a percentage of seats for each team in an effort to lessen the likelihood of COVID-19 spreading.

Despite the uncertainty, there is a great deal of excitement surrounding the Raiders' move, especially after they performed beyond expectations last season with a 7-9 record.

The Raiders are returning a number of promising players from last year's team, including running back Josh Jacobs, tight end Darren Waller and defensive ends Clelin Ferrell and Maxx Crosby.

Las Vegas also selected Alabama wide receiver Henry Ruggs and Ohio State cornerback Damon Arnette in the first round of the 2020 NFL draft to add to their growing core of young talent.

The biggest question mark surrounding the Raiders may be focused on veteran quarterback Derek Carr and whether he can be the guy for a team that wins and makes the playoffs consistently. Because of that, 2020 could be a make-or-break year for him.