Los Angeles Partners to Bring a CFL Franchise to Las Vegas
Three Los Angeles investors have been granted a Canadian Football League expansion franchise for Las Vegas, with entrepreneur Nick Mileti heading the successful bid.
“I see Las Vegas as an opportunity to make Canadians and the league proud,” Mileti told a news conference after a meeting of CFL governors. “It’s an action game in an action city.”
Mileti, 62, is one of three equal partners in the venture. The other partners are merchant bankers Marshall Geller and Glenn Golenberg. Geller is a former partner in the NBA’s Chicago Bulls.
Mileti is a former lawyer, housing developer, boxing promoter, radio-station owner and motion picture investor. He has been involved with major league baseball’s Cleveland Indians, the NHL’s Cleveland Barons and the NBA’s Cleveland Cavaliers.
CFL Commissioner Larry Smith said terms for expansion included a $1-million down payment, with lines of credit of $1 million on Jan. 1, 1995, and $1 million on Jan. 1, 1996.
The as-yet unnamed Las Vegas team will play in the 32,000-seat Silver Bowl.
Go beyond the scoreboard
Get the latest on L.A.'s teams in the daily Sports Report newsletter.
You may occasionally receive promotional content from the Los Angeles Times.
