The Las Vegas Raiders have absolutely nailed their personal seat license sales for Allegiant Stadium. The new facility, which is set to open for the 2020 season, has generated $549.2 million in PSL sales. Those numbers are incredible.
While their Los Angeles-based rivals failed to reach projected PSL revenue targets, the Raiders have been raking in cash. The Rams and Chargers each projected to make around $400 million from PSL sales, but have reportedly fallen far short of those targets. The Chargers in particular have been a disaster, falling $300 million short of that $400 million target. We'll likely never see the raw numbers but you know if they were good, both franchises would be crowing about it.
On top of those failures for the LA teams, the cost of SoFi Stadium has gone through the roof and the facility may wind up with a $6 billion price tag. That's almost $4 billion more than projected. Meanwhile, the Raiders got locked out of LA by the combined Rams/Chargers project and are rolling in cash in Las Vegas.
The NFL was hell-bent on bringing football back in Los Angeles and it looks like the league overestimated the market. Frankly, the Las Vegas product is showing that plenty of cities could have been great relocation destinations.