Bank of America: Giving back by taking care of hometown Oakland Raiders and Carolina Panthers
Much like going for a job interview, it’s not what you know, but who you know that may get you in the door. This had to be the case for the Oakland Raiders and their plan to move to Las Vegas. At first, the Raiders move were to be funded by casino mogul Sheldon Adelson and Goldman Sachs but both backed out after agreeing to $1.9 billion domed stadium in the heart of Vegas.
As each deal fell through it was becoming clear that the Raiders were destined to stay home in California. However, according to reports from NFL.com and The Los Angeles Daily News, California started Bank of America has agreed to fund the new stadium for the Raiders highly-anticipated move. It may sound like small news but at a closer look, this is amazing considering BOA has their hands in another NFL team as well.
Currently, Bank of America is also the name of the stadium in Charlotte, North Carolina where the Carolina Panthers call home. It’s big news as BOA has managed to be the person giving the interview for your dream job who also happens to be your next door neighbor or childhood friend. Bank of America was started in San Francisco (Bank of Italy) and later merged with Bank of America in Los Angeles in 1928. Now, as business started to blossom, BOA began to expand outside of California.
Two of their prime locations has plenty do to with the agreement to fund the new stadium. One of their acquisitions was the buyout of Valley Bank in Nevada. Now, BOA will have their name attached to two stadiums with two of the largest fan bases in the NFL. The Panthers and the Raiders and while BOA was not founded in either of these respective cities this is still looked upon as home field advantage. BOA’s home state Raiders were in need of help and came to their rescue. It was the same with the Panthers when BOA bought the stadium in 2014. What makes that as significant as the Raiders deal is that Bank of America headquarters is located in Charlotte, NC.
It’s the little details that often go unnoticed and why many never understand why some deals are done. Los Angeles was home to BOA, Charlotte is home to BOA, and so is Nevada. What better way to award the fans of those cities than offering them a brand new stadium? As for the state of Nevada, their very own NFL team.
Of course, the deal was done in efforts to make money but I would like to believe that it had something to do with Bank of America wanted to pay it forward to the three cities that helped them make their mark in the banking world.