The Nevada System of Higher Education Board of Regents unanimously approved Clark County’s acquisition of Sam Boyd Stadium from University of Nevada Las Vegas.
Clark County is acquiring the 69-acre site for $5M. Next, Clark County Commission must approve the deal for the transaction to be finalized. The Commission will most likely hear the matter at its Dec. 17h meeting or its first January meeting.
The County and the University each commissioned third-party appraisals of the land. UNLV’s 2023 appraisal valued the land at $10.4M, and the County’s February 2023 appraisal reportedly valued the land at $0.
The $5M total factored in both appraisals and UNLV’s total investments of more than $20M into the facility. Just last year, UNLV spent $500K on the operation and maintenance costs of the stadium. Contributors to the expenses included copper wire theft and homeless people using the house for shelter, which caused the University to hire security.
Due to UNLV’s joint-agreement with the Raiders, the University has been unable to host events at Sam Boyd since the Rebels began playing at Allegiant Stadium in 2020.
The land was owned by the County but was transferred to UNLV for no cost in 1985. The Bureau of Land Management owned the site prior to the County. BLM also owns most of the nearby land.
The land has a public clause, which would make it difficult to transfer the land to an entity that isn’t Clark County.
Reportedly, the land transfer includes language that prohibits the County from using Sam Boyd for competing events to those held at Allegiant. The County reportedly does not currently have specific plans for the area.
UNLV reportedly plans to use the $5M in a “quasi endowment,” ensuring its flexibility. Some of the potential destinations of the funding would be women’s sports, infrastructure, financial aid and support programs. (Source)
