Raiders facing “very big” tax implications for not reporting income

Reportedly, the organization could be in hot water with the IRS

Just before the start of training camp, former Las Vegas Raiders president Marc Badain retired. The announcement came as a surprise, given the timing and that Badain had been with the Raiders for 30 years. Then, the situation became even more interesting as a handful of other high-ranking front office members stepped away from the organization.

Naturally, rumors started to swirl that the Raiders might be in hot water, and Mike Ozanian, managing editor at Forbes Media and co-host of Forbes SportsMoney, tweeted five days ago that the resignations were tied to accounting issues related to the new stadium.

Ozanian followed up today with the tweet below, stating the organization is facing some tax implications for not properly reporting income.

Except for thanking the former employees for their service, the Raiders and team owner Mark Davis haven’t released much information on the matter. A couple of weeks ago, long-time NFL Insider Jason Cole reported the organization has hired an outside law firm to deal with whatever issue led to the resignations, which might explain the silence.

Given Ozanian’s and Cole’s reports, things could get ugly for Las Vegas. However, there is still very little information on the matter so the severity of the issue is still in question.

Silver and Black Pride will continue to monitor the situation and provide updates as they become available.

UPDATE [8/19/2021 3:54 pm]: Daniel Kaplan, sports business reporter for The Athletic, is now reporting that the issue that led to the Raiders’ executives resigning is because of overpaid taxes.

Again, we will continue to monitor the situation and provide updates as more information is provided.